Infosys, the country's second largest software exporter, has signed two large office leasing deals in Pune and Bengaluru in the last quarter.
The company has taken 620,000 sq ft office space on lease in Juniper Tower in International Tech Park Pune (ITPP) run by Singapore developer Ascendas in Hinjewadi Phase III. This is the biggest office leasing deal in the city this year. Office rents in the Hinjewadi area hover around Rs 40-52 per sq ft.
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Infosys set up its first office in Pune in 1981 and has its second largest campus in the city. Infosys was looking for another 100 acres in Pune for expansion and was awaiting government approval. The Information Technology bellwether has also taken 150,200 sq ft space in the Confident Octans project in Electronics City in Bengaluru. Electronics City commands rents of Rs 28-32 per sq ft.
|THE INFOSYS ARCHITECTURE|
An Infosys spokesperson said the company would not comment on the developments because it was in a silent period ahead of its results on Friday.
The company has plans to expand to cities like Indore, Mohali, Belgaum, Hubli and Nagpur. In Nagpur, it is developing a campus to accommodate over 4,500 people and it will be operational in 18 months. Other centres have a capacity of accommodating 5,000 people.
Infosys has beaten market expectations for three consecutive quarters and has raised its full-year forecast for 2015-16. For the December quarter, its revenue grew 1.7 per cent sequentially to Rs 15,902 crore, beating Bloomberg's estimates of Rs 15,758 crore. Net profit grew two per cent sequentially to Rs 3,465 crore and was ahead of the Bloomberg consensus estimate of Rs 3,351 crore.
As of March 31, 2015, Infosys had more than 193,000 employees. It has 85 sales and marketing offices and 100 development centres overseas.