Cognizant to invest over $500 million in India infrastructure expansion
Cognizant (NASDAQ: CTSH), a provider of information technology, consulting, and business process outsourcing services, today announced plans to further expand its real estate construction program in India. The company said it will invest more than $500 million through the end of 2014 to expand its owned campus footprint with the addition of over 8 million square feet, which will have the capacity to house over 55,000 employees.
“This current real estate expansion program is part of our ongoing strategy of investing in our people, processes, systems, and infrastructure to support our long-term growth,” explained Gordon Coburn, CFO and COO, Cognizant. “We will continue to evaluate opportunities for further construction expansion over the coming years,” he added.
The company further informed that, real estate development program will create additional software development and training facilities in regions designated as Special Economic Zones in four cities, namely Chennai, Pune, Coimbatore, and Kolkata. In addition to the construction of owned facilities, company will continue to actively lease additional facilities throughout India to meet its future staffing requirements.
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