IBM backs India bet with realty leases in Kolkata
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IBM backs India bet with realty leases in Kolkata

By siliconindia staff writer   |   Wednesday, 19 November 2003, 08:00 Hrs
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KOLKATA: Kolkata seems to figure prominently in IBM's future plan of action if commercial space being taken up by the company is any indication. IBM Global Services India has taken on lease about 1,15,000 sq ft of office space in the city. The company has taken up some 70,000 sq ft space in Millennium City Informational Technology Park and another 45,000 sq ft space on the eight-storied Lansdowne Towers on Sarat Bose Road. It intends to expand its export service activities in these new premises.

Confirming the development, IBM Global Services India (export services) chief, Amitava Ray, said, “The export services wing is doing exceptionally well in the city. We are on a hiring mode to support our expansion programme. Naturally, we need additional space to accommodate the increased manpower.” “We have entered into an agreement with IBM for taking up on lease a large part of Lansdowne Towers , as well as Tower I of Millennium City ,” said real estate developer, Santosh Rungta.

IBM Global Services is in the process of introducing 'on-demand innovation services' from its research lab in Kolkata, which will give customers access to a dedicated team of researchers, specialising in high-end business transformation and technology consulting. This activity will also require additional space.

Global IT business including software-hardware and services is estimated to grow to $800bn in '05 and $1 trillion in '07. "A sizeable part of this will be outsourced and developed off-shore in cost effective countries like India and the export services wing of IBM is keen to cash in on the opportunity. As and when these projects come, IBM will require more space and manpower," Ray said.

Incidentally, the Millennium City with twin towers at Salt Lake (sector V) is being developed by the Rungtas and designed by architect JP Agarwal. While Tower I has about 1,25,000 sq ft spread over eight floors including space set aside for car parking, retail showrooms and offices, Tower II will be a 15-storied building.

(Source: Economic Times)


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