Infosys signs lease deed for 142 acres of land in MIHAN, Nagpur

IT major Infosys Limited  has signed the lease deed with Maharashtra Airport Development Company (MADC) for 142 acres of land in the MIHAN-SEZ at Nagpur. The company also paid the entire cost of the land at Rs 60 lakh an acre.

As reported, the move is expected to give a major boost to the Mihan project that was starved of investor activity so far. Recently, Infosys has been granted co-developer status in the SEZ, which means that it can develop the infrastructure to let it out to other units. 

MADC's vice-chairman-cum-managing director UPS Madan said the company was expected to start the work soon. Work from MADC's side was complete and now it was up to Infosys to get the lease deed registered and start work, added Senior Marketing Manager in MADC S Sittarsu.

TCS Nagpur campus work begins in MIHAN: 

THE leading IT service Company of the Country – Tata Consultancy Services (TCS) started construction of its facility in MIHAN-SEZ on Monday. Chief Minister Prithviraj Chavan liad the foundation stone of TCS Nagpur campus in presence of Social Justice Minister Shivajirao Moghe, N Chandrasekaran, Chief Executive Officer & Managing Director of the company, S Mahalingam, Chief financial Officer & Executive Director, & Ajoy Mukherjee, Global Head-HR.

U P S Madan, vice Chairman & Managing Director – MADC; Pravin Darade, Joint Managing Director – MADC, & other Senior officers were also present on the occasion .

The IT arm of the Tata
Group intends to completed the first phase of the campus in Nagpur with an investment of Rs 600 crore within a span of 24 months. The second phase are competed, the stated-of- the art campus will house 16, 000 associates in the facility built with a strong environment –friendly design. Apart from world-class offices, the TCS campus will have customer collaboration centers, cafeterias, gymnasiums & outdoor sports facilities to offer a holistic environment to knowledge professional. The facility will be set up on a 54 acre land in the MIHAN – SEZ at Khapri on wardha Road.

The first phase will employ about 8, 200 IT professional in Nagpur.

Addressing the gathering, Chavan said that the ambitious concept of MIHAN failed to achieved desired goal & thus nothing concrete could be materialized to boost the economy of Vidarbha. “When the idea of MINHAN was conceived, everything was moving in right direction & it was widely anticipated that MIHAN would create wonders in the region, “he said.

However, the wishes to the TCS official, Moghe expressed happiness over the arrivals of the Tata Group company in the region & praised the officials for showing faith in the huge potential of the Orange City.

In his introductory remarks, Chandrasekaran said, “Nagpur has the potential to becomes the next big hub for knowledge – based industries like IT & engineering with its strong eco-system of university, talented people & infrastructure. After Mumbai & Pune where we employ over 40, 000 people, we are delighted to be part of the IT revolution in Nagpur. Our growing presence in Maharashtra continues to be strategic importance for our overall business growth & we remain committed to working in close collaboration with all stakeholders of local talent & provide our customers with world –class IT solution from his location.”

The TCS Nagpur campus will be built in two phase I containing 8, 200 seats IT services & BPO services. Phase II will be of a similar size.

Tata Consultancy Services is an IT services, Consulting & business, solution organization that delivers real result to global business ensuring level of certainty no other firm can each match.

The company offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering & assurance services.

This is delivered through its unique Global Network Delivered Model, recognized as the benchmark of excellences in software development.

A part of the Tata Group, India’s largest industrial congulomerate, TCS has over 2, 14, 000 of the world’s best trained consultants in 42 countries. The company generated consolidated revenues of US $ 8.2 billion for the ended 31 march, 2011, & is listed on the National Stock Exchange & Bombay Stock Exchange in India.

Source- Business Bureau 

Mahindra Life Space Development enters Nagpur:

The real estate and infrastructure development arm of the Mahindra Life Space Development has announced their branch in Nagpur.

This project is spread across 25.25 acres of land, and it is in the residential zone of 4,354 hectare Mihan (multi-modal international cargo hub and airport, Nagpur). Mahindra Life Spaces will also offer one, two and three BHK flats, besides row houses and duplex homes.

Anita Arjundas, Managing Director and Chief Executive Officer, Mahindra Life Space id, “The focus of our Strategy being sustainable urbanization, we wish to carry this development approach to the cities that are contributing to urban growth. Nagpur is poised for speeding up growth both in terms of infrastructure and the general economy.”

The project will be developed by Mahindra Bebanco Developers, a joint venture between Mahindra Life Space (70%) and construction contractor, BE Billimoria, & Co. (30%).

Source-openmarkets.in