According to TOI report, Cognizant is planning to sell its prime property in Chennai, which has served as its India headquarters for over two decades.
The property, a 15-acre land parcel with a four lakh sq ft office space, is situated on Chennai’s IT Corridor at Okkiyam Thoraipakkam on Old Mahabalipuram Road (OMR). The international property advisory firm JLL has been appointed to oversee the sale, which is expected to conclude by December 2024.
Potential buyers, including local developers Baashyaam Group and Casagrand, are currently in discussions, although no agreements have been finalized yet.
Consolidation Strategy and Future Plans
Cognizant’s decision to sell this property is part of a broader strategy to consolidate its operations within three self-owned campuses located at MEPZ, Sholinganallur, and Siruseri.
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In line with this consolidation effort, Cognizant has been gradually relinquishing leased spaces across Chennai, including offices at Ramanujan IT Park, DLF, and St Mary’s Road in R A Puram. The company aims to complete the sale and vacate the Thoraipakkam campus by December 2024.
Cognizant is likely to shift its India headquarters to its MEPZ campus near Tambaram on GST Road as part of this transition.
Historical Significance of the Thoraipakkam Campus
The Thoraipakkam office holds significant historical value for Cognizant. It has been the epicenter of the company’s operations in India, playing a crucial role in its growth and development over the past 20 years.
The site has witnessed key milestones, including Cognizant remotely ringing the Nasdaq opening bell. Additionally, it served as the base for Cognizant’s professional co-founders, Lakshmi Narayanan and Chandrasekaran.
The sale of this iconic campus marks a major shift in Cognizant’s presence in Chennai.
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