Tata Consultancy Services (TCS), India's largest IT services company, will pay Rs 2,250 crore for a 100% equity stake in Darshita Southern India Happy Homes.
The acquisition focuses on acquiring land and building Darshita to expand TCS's delivery center.
In a regulatory filing, the company stated: "Incorporated in September 2004, the entity is engaged in the development of a commercial property that will be leased to prospective industrial consumers. Because the property is still in development, revenue generation has yet to begin; therefore, the last three years' turnover is zero.
TCS has a two-year call option to acquire 100% equity in the entity.
TCS announced in January of this year that it would acquire two wholly owned Tata Realty and Infrastructure Limited subsidiaries—TRIL Bengaluru Real Estate Five Limited and TRIL Bengaluru Real Estate Six Limited—for Rs 1,625 crore.
The deal was completed near the end of January 2025. According to the company's regulatory filing, "We wish to inform you that the Share Purchase and Securities Purchase Agreement (SSPA) has been executed today between Tata Consultancy Services Limited (Company), Tata Realty and Infrastructure Limited (TRIL), and Entities for the acquisition of 100% of (i) equity shares and (ii) optionally redeemable convertible debentures of Entities held by TRIL, in two tranches."
Upon the execution of the SSPA, the company received 65 percent of (i) equity shares and (ii) optionally redeemable convertible debentures in the first tranche, converting these entities into subsidiaries.
