Cognizant raises investment in real estate infra by $200 million

Cognizant Technology Solutions has increased its real estate infrastructure expansion in India by nearly $200 million. The US-based company, which has large offshore presence in India, has revised its investment plan to a total of $700 million in real estate from 2011 through 2015. This is to expand its campuses in India by an additional 10.5 million square feet, reports Business Line. This expanded programme includes expenditure on land acquisition, facilities construction and furnishings to build new company-owned IT development and delivery centres in regions primarily designated as Special Economic Zones in India, the report added. In February 2011, the company announced $500 million of investment in its India infrastructure expansion through the end of 2014. However, at the beginning of calendar 2012, the company decided to expand its planning horizon for the India real estate programme to 2015 and beyond, a company spokesperson was quoted as saying in the report.

source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=20267&cat_id=1