Nasdaq-listed IT consulting services company Cognizant Technology Solutions Private Limited is expanding its operations in Hyderabad with a plan to add more than 8,000 people to its existing workforce.
Cognizant figured prominently in a list of 18 companies, whose investment proposals were cleared through TS-iPASS, a single window mechanism created last year by the Telangana government.
“18 industries have been issued with approvals while the biggest among them is Cognizant with an investment of Rs 655 crore and would create an employment of around 8,500 personnel,” the industry department said.
The combined investment of all the 18 proposals stood at Rs 2,167 crore. The other prominent names in the list include ITC Limited and Sify Technologies Limited who have proposed an investment of Rs 450 crore and Rs 250 crore respectively.
The American IT service company, which has a 2.21 lakh global work force operating out of 100 development centers across the globe, owns a 11-acre campus apart from using 4 leased facilities in Hyderabad city. The new investment would be utilised in creating additional office space in the self-owned campus.
“We thank the Telangana government for their support and swift clearance of our project through TS-iPASS. As part of this project, Cognizant will invest over Rs 500 crore to add a built-up area of 1.5 million square feet on its 11-acre Gachibowli campus. The expanded facility will have a capacity to accommodate around 8,000 professionals,” a Cognizant spokesperson said.
The company has an existing 2.25 lakh square feet of facility on the campus while over 18,000 people are working from different facilities in the city. Besides Hyderabad it has operations in Chennai, Bengaluru, Gurgaon, Kochi, Kolkata, Mangalore, Mumbai and Pune.
“Hyderabad center is an important part of our integrated global delivery capability and represents our continued success in hiring the best talent to support our ever expanding range of services, industry, and geographies. We look forward to bringing the benefits of our global experience and industry-leading growth to the region by way of high-value carer and learning opportunities,” the company spokesperson added.