Development program will bring additional software development and training facilities in Special Economic Zones in cities
Cognizant, a provider of information technology, consulting, and business process outsourcing services, has revealed its plan to invest in real estate construction program in India.
Cognizant said it will invest more than $500m through the end of 2014 as part of the expansion program.
It will expand its owned campus footprint with the addition of over 8 million square feet, which will have the capacity to house over 55,000 employees.
According to the company the development program will create additional software development and training facilities in regions designated as Special Economic Zones in cities such as Chennai, Pune, Coimbatore, and Kolkata.
In addition to the construction of owned facilities, Cognizant said it will continue to actively lease additional facilities throughout India to meet its future staffing requirements.
Cognizant chief financial and operating officer Gordon Coburn said this current real estate expansion program is part of their ongoing strategy of investing in their people, processes, systems, and infrastructure to support our long-term growth.
"We will continue to evaluate opportunities for further construction expansion over the coming years," Coburn said.