TCS,Signs,the,Contract,taking, business, insurance TCS Signs the Contract of taking Indias Largest Office Spac
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Over several years, India has earned a name for itself in the outsourcing market, and it has been the first choice for most of the companies to outsource their operations. According to a recent research conducted in US, almost 82% of the US based companies have voted for India as the most preferred choice to outsource their operations. This being the condition, the demand for office spaces in India has constantly been rising and number of multi-national companies have started acquiring their space in India.Recently, the deal of India’s largest office space has been concluded in Thane, and it’s said that, the software major Tata Consultancy Services has signed the deal to acquire the space of about 19 lakh square feet for its biggest office under single roof at Hiranandani Estate in Thane. Once the property is delivered, TCS will be able to accommodate over 30,000 of its employees under a single roof. Hiranandani Constructions has promised TCS to deliver the space in the next year and a half.Reset Clause for every three yearsHiranandani Constructions and TCS have signed a contract of 15 years with an option of reset clause for every three years. The monthly lease rental for the office space is Rs 50 to Rs. 55 per sq. ft. whereas the annual lease rental will be in the range of Rs 120-130 cr. Niranjan Hiranandani, the Managing Director of Hiranandani Groups, has confirmed the deal to Mumbai Mirror, and has said that it will create more job opportunities in Thane.More than 25,000 jobs to be created in Thane Talking to Mumbai Mirror, Niranjan Hiranandani has said “the company has given out the space of 19 lakh sq. ft. to TCS on a long lease (15 years) to set up a single beam IT Park. This will be the largest space in the country owned by a single company. It’s expected that, more than 25,000 employees will get job in Thane, where many people had lost their jobs when the industries were closed. The work has already been started and it would take one and a half years to be completed, as we have promised to provide the best architecture”.The grand project to consolidate TCS’s growth plans Sanjeev Jaiswal, the Municipal Commissioner has also confirmed the reports and has said that, TCS campus coming to Thane is definitely a matter of pride, and they are working to words this grand project to complete it as soon as possible. It’s being said that the Thane lease project will surely help India’s largest software service exporter to consolidate its growth plans.The revenue of TCS was standing at RS 24,220 cr. in 2015 with the head count of 3.2 lakhs. And now, Chandrasekaran, the CEO of TCS has said that they have laid a strong foundation for growth in the year 2016. With TCS already having 19 offices in Mumbai and surrounding areas, the new lease deal signals a great revival in commercial real estate market in Mumbai.
TCS,Signs,the,Contract,taking,