Infosys buys 3 acres in Bengaluru’s Electronic City for Rs 33 crore

By | January 4, 2017

Infosys has acquired about 3 acres of land in Electronics City for Rs 32.5 crore from Pradot Technologies, according to people familiar with the matter.

India’s second largest IT services provider has paid about Rs 2,500 per sqft for the land parcel, the sources said. Ramadas Kamath, head of infrastructure and sustainability at Infosys, confirmed the deal.

Kamath said for the time being the land will be used as a barrack for CISF (Central Industrial Security Force) personnel. Infosys has about 300 CISF people in its campuses in Electronics City. The longer-term plans for the land have not yet been finalized.

City-based Pradot Technologies says on its website that it works with more than 3,000 physicians and 1,000 health plans in the US and says it’s a leader in healthcare revenue cycle management. It’s not clear why it sold the land.

For years, Infosys campuses were built by property developer Sobha, which has till date developed about 35 million sqft of office space for them.

But recently, Infosys has also handed some of its projects to KEF Infra, which ships precast material to customer locations and assemble them.

It is also building the world’s tallest clock tower for Infosys at its Mysuru campus.

Property consultancy CBRE that advised the land deal was not available for comment.

Source: Economic Times