Financial Daily from THE HINDU group of publications
Tuesday, Jul 26, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jul 26, 2005 |
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Info-Tech
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Software Cognizant expanding Chennai facility Raja Simhan T.E.
Mr. R. Rajagopalan
Chennai , July 25 COGNIZANT Technology Solutions, the US-based information technology solutions provider, is expanding its Chennai facility by leasing a ready-to-occupy private information technology park near the IT corridor on Old Mahabalipuram road and constructing its own facilities, according to a senior official in Cognizant. According to Mr R. Rajagopalan, Vice-President, Finance and Administration, Cognizant, the Nasdaq-listed company would lease the entire building of about 1.50 lakh sq. ft. spread over ground and seven floors to accommodate about 1,500 professionals. Employees would move into the new facility by end of this year, he said in an e-mail communication to Business Line. The expansion is in line with Cognizant's real estate policy of having a mix of fully owned and leased facilities. The company plans to own about 70 per cent of its facilities and lease the remaining, as that plays well into Cognizant's financial model, he said. It may be recalled that in March, Cognizant announced a $25.4-million (Rs 115 crore) construction programme in Chennai. In line with this announcement, the techno-complex in Siruseri is under construction and would be ready for occupation in a phased manner from December 2005. Phase one of the new facility will have a development centre spread over two lakh sq. ft. of built-up space and accommodate 2,000 professionals. In addition, Cognizant has taken six acres of land adjacent to its existing techno-complex in Thoraipakkam, on the IT Corridor, for constructing another Software Development Block. This will have a built-up space of 1.5 lakh sq. ft. and accommodate approximately 1,500 professionals when completed in December. Cognizant is also constructing a dedicated training facility, Cognizant Academy, at its Siruseri facility. This will have a built space of one lakh sq. ft. and 75 classrooms to train about 1,800 professionals simultaneously, said Mr Rajagopalan. The company has six development centres in Chennai and 9,000 professionals. The expansion would provide an additional space of five lakh sq. ft. to accommodate 5,000 more employees in the city, he said.
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