Cognizant puts up headquarters in Chennai for sale; expected to make up to Rs 800 cr: Report
Tech major Cognizant has reportedly put up one of its prime properties for sale. The sale is expected to make at least Rs 750 crore to Rs 800 crore for the company.
According to a report in Times of India, the Cognizant property in question is the one that has served as its India headquarters for more than two decades. The 15-acre land parcel, and 4 lakh sq ft office space is in Chennai’s IT Corridor.
The report added that international property advisors JLL has been roped in to sell the prime property located at Okkiyam Thoraipakkam on OMR. The OMR office which has been its headquarters for over 20 years is where co-founders Lakshmi Narayanan and Chandrasekaran operated from.
The firm has already been talking to several prospective buyers, including local developers, Baashyaam Group and Casagrand, the report added. However, things are yet to be finalised. According to sources who told the daily, the process to vacate the campus could wrap up by December 2024.
Cognizant is expected to move its India headquarters to MEPZ campus near Tambaram on GST Road.
The tech major aims to consolidate its operations in three of its own buildings at MEPZ, Sholinganallur and Siruseri, giving up leased spaces across Chennai. Some of the leased spaces it has given up include Ramanujan IT Park, DLF, and St Mary’s Road offices in RA Puram.
