One of the company's top locations is apparently offered for sale, according to tech giant Cognizant. The business hopes to profit from the transaction for at least Rs 750 crore to Rs 800 crore.
The Cognizant property in question is the one that has functioned as its India headquarters for more than 20 years, according to the report. The 4 lakh square foot office building and 15 acres of land are located in Chennai's IT Corridor.
The report further mentioned that JLL, global real estate advisers, has been brought in to handle the sale of the prestigious Okkiyam Thoraipakkam property on OMR. The OMR office has served as the organization's headquarters for more than 20 years, and Lakshmi Narayanan and Chandrasekaran conducted business out of it.
According to the source, the company has already held discussions with a number of potential purchasers, including Casagrand, Baashyaam Group, and local developers. But everything hasn't been decided upon yet. The daily was informed by sources that the process of leaving the site might be completed by December 2024.
Cognizant is anticipated to relocate its India headquarters to the GST Road MEPZ campus, which is close to Tambaram.
The software giant plans to give up rented locations in Chennai in order to centralize its operations into three of its own buildings at MEPZ, Sholinganallur, and Siruseri. It has forfeited a number of leased premises, including those in DLF, RA Puram's St Mary's Road offices, and Ramanujan IT Park.
