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TCS continues strategy to consolidate workspaces despite work-from-home plans

TCS seeks nod to build IT parks in Noida & Pune, leases more space in Thane

Even after making an announcement of letting 75% of its employees work from home by 2025, TCS has continued with its strategy to consolidate workspaces as the company sought approval to build two new large IT parks with over 5 million sq ft space and lease additional 1 million sq ft in Thane. The IT major has taken approval to sup an over 4 million sq. ft. IT park spread over a 50-acre plot in Noida and is in the process of constructing its own 1-million sq ft park in Pune's Hinjawadi.

Interestingly, the IT bellwether has also entered into an agreement to pick up 1 million sq ft office space in Thane just last week, said multiple persons with direct knowledge of the development.

"The approval for IT/ITeS Special Economic Zone in Noida's sector 157 was secured in late March. One of the two land parcels is owned by TCS and will be developed by the company through construction contractors," said one of the persons quoted above.

Of these proposed facilities, the land parcel in Pune is owned by the company and has been converted into a Special Economic Zone (SEZ) with approvals, while Noida land parcel has been allotted by the government.

"The commitments were made in the last fiscal and we have taken these future developments into consideration when we articulated our 25/25 vision and the Secure Borderless Work Spaces (SBWS) work norm. The phased development of these facilities will serve as modern day workplaces for our associates as also house our laboratories and Research & Development facilities while rationalising our presence across multiple offices in the respective regions," a TCS spokesperson said.

However, top officials close to the development say that cost savings during lockdown led work-from-home and travel restrictions have led TCS to reconsider its real estate strategy.

"Much of their IT Park plans had commenced earlier and had to be completed. Nothing is cast in stone's either way. Costs will play a big decision going ahead," an official said seeking anonymity.

Source: https://tech.economictimes.indiatimes.com/news/corporate/tcs-continues-strategy-to-consolidate-workspaces/75686819

May 12, 2020

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