Infosys has opened a new Sydney branch office to keep pace with business growth of more than 500 per cent in New South Wales (NSW) over the past five years, the company said in a statement.

It expects to hire 85 new employees in NSW alone to keep up with client demand in the coming financial year, it added. Infosys currently employs about 2,600 people based across Australia and New Zealand.

"Australia is the third largest market for Infosys globally and one of our fastest growing markets. We are seeing healthy growth across the region. The New South Wales financial services and communications work in particular is driving a lot of our hiring," Infosys Senior Vice-President and Country Head for Australia and New Zealand, Jackie Korhonen, said.

The 140-seat office will accommodate both new local staff to be hired and specialists who come to Australia for short-term projects throughout the year, it said.

A majority of Infosys staff in NSW will continue to work on client sites across the greater Sydney area. "The growth of Infosys in Sydney reinforces that India is a key priority in our international engagement. Companies like Infosys are helping grow our knowledge economy through investment and partnerships, which accelerate global competitiveness for Australian companies," Premier of New South Wales Barry O'Farrell PM said.

Recently, Infosys chief, N.R. Narayana Murthy, had told analysts at Barclays recently that the company is looking at reducing the number of top officials and subcontractors at onsite locations in a bid to reduce operational costs.

PTI