Cognizant plans massive expansion

By siliconindia staff writer   |   Tuesday, 30 March 2004, 08:00 Hrs
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CHENNAI: Close on the heels of completing the development of its campus facility (four lakh sq ft over nine acres) at Chennai’s IT Corridor, Cognizant Technology Solutions is expanding its operations further by setting up another technocomplex with a built-up space of four lakh sq ft.

“The expansion will require an investment of around Rs 115 crore. We are currently in the process of acquiring nine acres of land for the expansion. The construction will commence during the second quarter of 2004 and complete by the fourth quarter of 2005,” said R Rajagopalan, vice-president (Administration & Finance), Cognizant.

Apart from Chennai, Cognizant has own facilities in Kolkata (1.15 lakh sq ft) and Pune (1.35 lakh sq ft). Overall, it has invested about Rs 200 crore in creating these facilities.

The company is also planning to set up its own development centre (one lakh sq ft) in Bangalore in the next one year.

In Chennai, Cognizant employs about 4,000 people, occupying a total of six lakh sq ft, including two lakh sq ft of leased space. During this year, the company hopes to add 2,000 more people in Chennai.

The 10-year-old Nasdaq-listed software services company leveraging India reported a growth of 60 per cent in the year 2003 with revenues of $368.2 million. For the current year, it has projected a growth of 41 per cent to achieve revenues of $520 million.

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