Bangalore-based, mid-sized IT solution provider, MindTree Limited, is planning to hire 4,000 fresh graduates in the next financial year.

“Last year, we have hired 1,800 graduates. We have a strong hiring plan to recruit 4,000 freshers for the coming year," Subroto Bagchi, vice-chairman and gardener, told mediapersons here on Thursday.

The company has added 846 people in the third quarter of the current financial year, taking its total employee strength to 10,934.

Unveiling the company’s new centre in Hyderabad, Bagchi said, “The company has adopted a new model, called CPP (comparative pay package), for the employee appraisal. Under the new model, the right employee will get remuneration based on its job and performance comparing across other companies in the market."

“According to Nasscom estimates, the IT industry is going to be doubled in size by 2020 from the current $100 billion. We are preparing ourselves by expanding our employee-base to meet the demand," he said.

The Hyderabad centre, spread across 43,250 sft, employees 500 professionals, said Siva Vajjhala, vice-president (data and analytics solutions) and location head (Hyderabad).

The company has reported a two-fold jump in net profit to Rs 60.6 crore for the third quarter ended December 31, 2011, as compared with Rs 30.5 crore in the corresponding quarter last year. Revenues grew 35 per cent to Rs 519.7 crore during the reporting quarter from Rs 384.8 crore in the same period a year ago.