Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Cognizant is reportedly considering selling its Chennai headquarters, located on a 15-acre parcel in Okkiyam Thoraipakkam within Chennai's IT Corridor. The 400,000 square-foot property, expected to fetch INR 750-800 crore, has been listed with international property consultant JLL. The company aims to vacate the premises by year-end, consolidating operations into other city campuses. This move follows Cognizant's strategy to streamline operations and reduce non-core real estate holdings, as seen in their recent sales of offices in Hyderabad and Chennai's Siruseri. Meanwhile, Cognizant faces a legal probe in Maharashtra over allegations of bribery involving L&T and environmental permits for their Pune campus, stemming from a 2013-14 incident.
According to recent reports, tech giant Cognizant is contemplating the sale of its office building in Chennai. The property which held the company's headquarters for over two decades is located on a 15-acre land parcel in Okkiyam Thoraipakkam, OMR in Chennai's IT Corridor. Approximately 4,00,000 square feet is up for sale, with the company anticipating a sale price of around INR 750-800 crore. Advertisement
First reported by Times of India (TOI), the company is said to have enlisted the services of international property consultant JLL to complete the deal. While several prominent builders have shown a serious interest, no official statement has been released by either entity regarding the same. Sources say the company intends to vacate the premises by the end of this calendar year and consolidate its operations within their other office campuses in the city.
This move aligns with a message put forth late last year by the company on wanting to streamline operations and reduce non-core real estate holdings. In December 2023, the company announced it was selling its Hyderabad office in Gachibowli. The 2.5 lakh square foot office was built on a 10-acre land parcel, originally allotted by the local government. Around the same time, the company also sold its Chennai office in Siruseri which was leased from the State Industries Promotion Corporation of Tamil Nadu and comprised 6 lakh square feet of office space spread across 14 acres. Notably, the company also scaled back leasing activities in Hyderabad from 1.5 million square feet to 1 million square feet with revised rental terms.
Cognizant is a multi-national IT solutions service provider that offers information technology consulting and business process outsourcing (BPO) services. It is a modern BPO that offers services support for both critical and non-critical processes using IoT, Data and AI, Cloud services, SaaS and more. In India, the company has offices across 11 cities including Bengaluru, Mumbai, Kochi, Hyderabad and Gurugram.
In the beginning of this year, Cognizant became embroiled in a legal tussle when a Sessions Court directed the Anti Corruption Bureau (ACB) in Maharashtra to open an investigation into an allegation of bribery involving the company officials and construction conglomerate L&T. Both entities were accused of bribing officials to the tune of USD 7,70,000 back in 2013-14 to obtain necessary permits and environmental clearances for its campus in Hinjewadi, Pune.
Judge S B Hedaoo of the Session Court passed the directive while addressing a petition filed by Delhi-based environment activist and retired police officer Prit Pal Singh against Manikandan Rammurthy, the former Vice President of Cognizant India and L&T. According to court documents, the complaint relied on proceedings from a case by the Securities Exchange Commission (SEC) of the USA against Cognizant Technology Private Limited's parent company Cognizant Technology Solutions Corporation USA regarding alleged bribing and violation of the Foreign Corrupt Practices Act (FCPA).
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
