Cognizant to expand Hyderabad campus, invest Rs140 crore
By Our Corporate Bureau | 08 Dec 2006
Mumbai: Leading IT services provider Cognizant is planning to invest over Rs140 crore to expand its Hyderabad campus. The expansion will involve acquisition of land, construction and furnishing, adding 5,00,000 sq feet and over 5,000 employees.
The investment is a part of Cognizant's larger programme to spend over $200 million the by end-2008 on fully-owned complexes in Chennai, Coimbatore, Hyderabad, Kolkata and Pune with over three million square feet housing over 30,000 new employees.
The Hyderabad campus will be built in a special economic zone.
"The Hyderabad centre's focus on three key segments - financial services, healthcare, information, media and entertainment - and high quality execution have enabled us to build stronger customer businesses," said Shankar Srinivasan, vice president and head - Hyderabad operations.
"From about 200 professionals in 2002, Cognizant has scaled up to approximately 2,000 today," he said.
Cognizant will simultaneously be taking on lease new facilities to meet its growth requirements, Lakshmi Narayanan, president and chief executive officer of the company, said.
"Cognizant has grown faster than its competition over the last several years, and our strong pipeline reinforces our confidence in our future growth plans," he said, adding, "As we plan for the next phase of growth, we are focused on building-up the scale to address the needs of our businesses around the world."
Narayanan said he expected the new construction to enable Cognizant to meet growing customer demand in North America, Europe, South America and Asia.
