10,142.15113.05
Stock Analysis, IPO, Mutual Funds, Bonds & More

Cognizant arm rents 3.5 lakh sqf at DLF IT park in Kolkata

Cognizant has leased the office space for nine years and the facility would underpin its expansion in India, said multiple people with direct knowledge of the development. Rentals for the lease have been set at ?35 per sq ft a month, with the agreement carrying a rental reset clause every three years.

, ET Bureau|
Last Updated: Mar 04, 2020, 07.50 AM IST
0Comments
Getty Images
1
Representative Image
MUMBAI: The local arm of US-based Cognizant Technology Solutions has picked up a 3.5-lakh sq ft office space on a long-term lease in DLF’s information technology park at Kolkata’s Rajarhat locality, which is emerging as the eastern city’s belated answer to the IT hubs of Bengaluru, Gurugram and Noida.

Cognizant has leased the office space for nine years and the facility would underpin its expansion in India, said multiple people with direct knowledge of the development. Rentals for the lease have been set at ?35 per sq ft a month, with the agreement carrying a rental reset clause every three years.

“The deal had been signed and concluded a few weeks ago. The new office can accommodate up to 4,000 employees,” said one of the persons mentioned above.

ET’s mailed query to Cognizant India remained unanswered till press time on Sunday. DLF declined to comment.

Cognizant will be able to avail the tax benefits before the expiry of the SEZ Sunset Clause on March 31.

With no extension to the Sunset Clause in the Budget, the rush seen among corporate tenants to operate out of the special economic zone to avail tax benefits is likely to abate.
(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Also Read

Cognizant to retain digital talent in slowdown, anticipating recovery

Cognizant hit by 'Maze' ransomware attack

Cognizant will ask 400 more executives to leave

Cognizant COO Srinivasan Veeraraghavachary to step down

Different metric for digital: Cognizant

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service