[sbinews] Cignizant expands

  • From: sbistcbangalore@xxxxxxxx
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Tue, 23 Dec 2003 07:22:45 +0500

Cognizant plans $40-mn expansion

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CHENNAI: In what could probably be the largest investment plan unveiled by any 
IT company in India in the recent times, Cognizant Technology Solutions is 
expanding its operations in the country by setting up three development centres 
totalling six lakh sq ft of space for 6,500 employees in Chennai, Bangalore and 

Work on these facilities is expected to begin in early 2004. This plan is 
expected to cost about $40 million over the next two years for the company. 
Once fully occupied, these additional facilities   are expected to generate 
annual operating expense savings of close to $10 million, compared to expanded 
use of leased facilities. In terms of number of people, the company will be 
adding 4,000 on board to the existing 9,000 people. 

“Cognizant has grown faster than the competition this year and demand, 
including the pipeline, continues to be at an historically high level,” said 
Lakshmi Narayanan, the new CEO and president of the company. (Has Cognizant 
entered the league of Infosys and TCS?) 

Overall, Cognizant now has five facilities in Chennai, two in Bangalore, one 
each in Pune, Hyderabad and Calcutta. The size of own facilities of the company 
is 6.5 lakh sq ft, while it has leased about three lakh sq ft overall. 
With the proposed projects for six lakh, the company’s own space would increase 
to 12.5 lakh by the end of next two years. 

“Clients are ramping up their large scale offshore programmes, including 
application development and maintenance projects. 

An increasing number of large organisations are choosing Cognizant because of 
our industry leading fourth generation onsite/offshore model, which is focused 
on delivering not just technology but measurable business results. 

Our anticipated high growth rate in revenue and headcount provides an 
opportunity for us to build and own additional facilities,” he said. “Last 
month we completed the first phase of facility construction which was launched 
in 2001,” said Gordon Coburn, CFO, Cognizant. “That initial programme provided 
space for close to 6,000 employees. It was completed on-time and on-budget and 
has reduced our real estate costs.” 
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