Cognizant Technology Solutions, a leader in IT services provider, would invest Rs 140 crores to develop a new campus at the Special Economic Zone at Hyderabad. The new facility, which would be completed by end of 2008, would provide five lakh square feet of space and will have capacity for over 5000 employees, Lakshmi Narayanan, President and CEO of Cognizant stated in Hyderabad on Friday.
Stating that Cognizant had grown faster than competition, he said that in addition to the proposed full owned facility, the company would continue to lease additional facilities at Hyderabad to meet headcount growth requirements.
Currently Cognizant has 2000 people working at Hyderabad. “We have far exceeded our original plans for Hyderabad in the past four years. From about 200 professionals in the last quarter of calender 2002, Cognizant has scaled up to approximately 2000 professional today,” said Shankar Srinivasan ,Vice President.
The company plans to invest $200 million in the next two years to develop fully owned campuses in other cities to create 3 million square feet of space and accommodate 30000 new employees.