Having received an overwhelming response to its Cyber Towers, Cyber Gateway and Cyber Pearl, which together have acquired 17 lakh sq ft area during the last three years, the IT infrastructure major has decided to take up another project of 2.5 lakh sq ft area adjacent to Cyber Pearl with an estimated investment of Rs 80 crore.
Speaking to FE, R Sridaran, chief operating officer, L&T Infocity said, ITES and business process outsourcing (BPO) companies of multinational origin, frequently call us for enquiries.
In order to cash in on the frequent enquiries from overseas customers as well as to meet the demands arising out of ramping up of domestic ITS and ITES companies, L&T Infocity has decided to add another 2.5 lakh sq ft area in the next one year. We propose to invest Rs 80 crore on the new project, which is expected to be completed in the next one year, said Mr Sridaran. The company has so far invested over Rs 600 crore in Hitech City.
Out of the total 151 acres of land nearly 70 per cent of the space has been developed with quality infrastructure. The remaining 30 acres of area has been acquired by individual companies like Satyam (Nipuna too), Oracle, Reliance, Hindustan Petroleum Corporation Ltd, Convergys, and Computer Associates, for their own construction. Apart from our own project, L&T Infocity will also bid for individual projects of these companies and some of them have shown interest in us, he said.
The company is on the verge of handing over 200,000 sq ft of the Visakhapatnam project, constructed exclusively for HSBC. HSBC and L&T Infocity together invested close to Rs 45 crore on the project for the financial majors back-office call centre expansion in the state. The project will have a seating capacity of 2500, Mr Sridaran said.
The company is also constructing another project for HSBC at Colombo in Sri Lanka with an estimated investment of Rs 55 crore being shared by both the companies. The project will be ready by January next as per HSBCs requirement, Mr Sridaran informed further.
Following the encouraging Return on Investments (RoI), the company is seriously looking at expanding its presence in other states and major cities.
We are looking at Mohali and Kolkata to spread our wings further in due course of time, apart from expanding our operations in Vizag beyond the HSBC project, he said.