This Thread is about the updates,news... Of IT Park/IT SEZ Project's @Hyderabad
Both(Upcoming & Present)
Both(Upcoming & Present)
HYDERABAD: Minister for Information Technology Ponnala Lakshmaiah on Thursday stated that Andhra Pradesh was likely to get nine IT-enabled projects worth about Rs. 2,000 crore from the Centre by March-end.
Speaking after releasing a brochure of ‘Advantage Andhra Pradesh-2011' conference and exhibition being organised here on March 1 and 2, the Minister said the State and Central governments would fund the projects in 20:80 ratio. The projects pertained to legislature, municipalities, treasury and e-panchayat.
The fact that the State government had declared IT and ITES as essential services indicated the importance given to the sector, he claimed. “The smooth run of the IT sector in spite of the noisy situation in the State is the proof of the government's commitment,” the Minister told representatives of IT and ITES companies gathered there.
Mr. Lakshmaiah said the State government would soon enter into MoUs with Mauritius, Poland and Sri Lanka for technology transfer and training of personnel on IT services catering to their needs. Another agreement would be signed to facilitate Israel to lend marketing and venture capital support to SMEs and start-ups in the State.
Principal Secretary of IT K. Ratna Prabha said the government was focusing on development of IT hubs in tier II and III cities by planning construction of IT towers in Warangal, Tirupati and Visakhapatnam.
A couple of IT companies would soon be set up in Warangal.
She announced revival of Best IT Company annual awards from this year.
President of ITsAP L. Suresh, Director of STPI (Hyderabad) P. Venugopal and others also spoke.
AppLabs, the world’s largest software testing and quality management company today announced that it has taken a new 2000 seat facility at DLF, SEZ in Hyderabad.
AppLabs focuses solely on the software testing market. Some of its key verticals are airlines, retail, banking, capital markets, technology, and healthcare. In these verticals the company continues to be the dominant player in testing and is serving many of the largest global companies as their exclusive testing partner. The company serves over 150 customers currently. The new facility represents a significant investment by AppLabs and re-affirms its status as a global center of excellence for software testing and quality management.
Sashi Reddi, Founder and CEO of AppLabs said, “We now have a seating capacity of 2,000 at DLF. This will primarily house our enterprise customers and provide the secure facilities that they expect from their vendors. With our new facilities we continue to build our credibility as a profitable, growing, and world-class software testing and quality management services provider”
Recently NelsonHall, the leading analyst and advisory firm, in its latest report covering more than 18 third-party testing firms across the globe, based on criteria that include people management, domain expertise and ability to innovate, has recognized AppLabs as the largest Software Testing Services (STS) pure-play for a second year in a row.
Ascendas Property Fund Trustee Private Limited, the Trustee-Manager of Ascendas India Trust ("a-iTrust"), today announced that it reached agreement with Phoenix Infocity Private Limited ("Phoenix") to acquire its portfolio of 5 buildings in Hitec City 2 Special Economic Zone, Hyderabad ("the Properties").
2 of the buildings are completed and 100% occupied, while the other 3 buildings are expected to be completed over the next 4 to 5 years.
a-iTrust will immediately acquire the 2 completed buildings, with a total Super Built-up Area1 ("SBA") of 0.4 million sq ft, for Rs 1,739 million (S$ 50.4 million2). The remaining 3 buildings, with a total SBA of 1.8 million sq ft, will be acquired as and when each building is completed and leased. The pricing of the 3 buildings will be based on the net property income achieved at the time of acquisition, and is presently estimated at Rs 6,808 million (S$ 197.4 million).
This transaction is expected to be accretive to Distribution per Unit ("DPU"), with immediate accretion from the 2 completed buildings, and further accretion as the trust acquires the other 3 buildings.
a-iTrust’s presence in Hyderabad will also grow significantly, from the current 1.7 million sq ft owned to 3.9 million sq ft when all of the 5 buildings are acquired. The acquisition will strengthen a-iTrust’s position to capture the opportunities provided by the rapid growth of India’s Information Technology ("IT") industry.
Proposed Transaction
The 2 Completed Buildings – total SBA of 0.4 million sq ft 2
1. Super Built-up Area includes areas within the walls, areas covered by the walls and common areas like lift lobbies and toilets. It is the area for which rent is payable.
2 Based on the exchange rate of S$ 1 : Rs 34.5. The same exchange rate applies across the press release.
The purchase consideration for the 2 completed and 100% occupied buildings is Rs 1,739 million (S$ 50.4 million). Including the transaction costs, the total purchase cost is Rs 1,765 million (S$ 51.2 million).
The 3 To-be-Completed Buildings – total SBA of 1.8 million sq ft
Phoenix will develop the 3 buildings, and a-iTrust will acquire as and when each of them is completed and 100% leased. The purchase consideration will be determined based on the net property income achieved, on the same yield basis as that of the 2 completed buildings. The purchase consideration is presently estimated at Rs 6,808 million (S$ 197.4 million).
a-iTrust has the flexibility to acquire the buildings even when they are partially leased, by paying first for what has been leased, and paying for the balance space as and when it is leased.
a-iTrust will invest in the construction of the buildings, by subscribing to interest bearing convertible debentures during the construction of the buildings, subject to conditions of pre-leasing of the buildings and the trust’s ability to borrow within specified limits.
The Trustee-Manager will be actively involved in the development of the 3 buildings. The buildings’ design and specifications, as well as leases to be entered into, will be reviewed by the Trustee-Manager.
Funding
At its current gearing of 19%, a-iTrust has the financial flexibility to fund this transaction. If the acquisition is funded fully by debt, the trust’s gearing will be 22% after buying the 2 completed buildings, and 33% after buying all 5 buildings over the next few years. The Trustee-Manager has secured debt commitment from banks and will adopt a plan with the long-term objective of maximising Unitholders’ returns while maintaining a strong balance sheet.
The state is facing a problem of plenty in the Information Technology sector, according to the Chief Minister, Mr N. Kiran Kumar Reddy.
Buoyed by MoUs worth Rs 25,000 crore that he signed with 25 units on Wednesday, a beaming Chief Minister quipped that there was hardly any room for new IT companies in the state. The need of the moment was for existing companies to try and consolidate themselves, said Mr Kiran Reddy while briefing the media on the much-touted ‘Advantage AP’ to be held on March 1 and 2.
Interestingly, the Chief Minister said there was actually no need for events such as Advantage AP as the state had already established itself as a major force in the IT sector in the country.
“Every major company, including Facebook and others, have offices in Hyderabad,” he pointed out.
“In the last five years the investment in IT sector in the state was Rs 45,000 crore, and we had Rs 25,000 crore of investment in a single day (Wednesday),” said the Chief Minister, while launching the website for Advantage AP. “This in itself is a big confidence booster.”
He also lauded the phalanx of IT professionals attending the event and said their presence inspired the young engineers and would boost their morale. Earlier, the minister for IT, Mr Ponnala Lakshmaiah, said that more than 1,000 participants from across the country and the world would take part in the event, for which all the 200 stalls have been booked well in advance.
The event, which is being jointly organised by the state government, ITs AP, and Software Technology Park of India (STPI), will also have a number of speakers from various fields.
“End users, including representatives from railways and defence too have been invited,” he added. Meanwhile, the Software Technology Park of India director, Mr P. Venugopal, said the park had written a letter to the state government seeking 2,000 acres of land for the ‘IT Cluster Concept’
QuisLex, Inc., a premier legal support services provider, today announced the opening of a new delivery center in Hyderabad, India. This new 350-seat facility will complement QuisLex's existing facilities, bringing the total operating capacity to 800 seats.
"We are extremely pleased to nearly double our capacity again," said Sirisha Gummaregula, COO of QuisLex. "Our new facility will help us meet the growing demand for our services and strategically position QuisLex to continue scaling up our onshore-offshore model, when our US document review center becomes operational later this year."
"Our new facility will also host all the security controls and advanced technological infrastructure as well as multi-tiered physical and electronic security measures, including biometric access controls standard in all QuisLex facilities. This new facility will be fully compliant with our rigorous ISO/IEC 27001:2005 certified controls," said Michel Sahyoun, CTO of QuisLex.
All of QuisLex's execution centers are highly secure, state-of-the-art Class A facilities in the prestigious HITEC City area of Hyderabad, India. "The new facility expands our ability to provide high-quality, secure, cost-effective, process-driven solutions and reinforces our commitment to our Clients" added Gummaregula. QuisLex's clients include global technology corporations, global financial institutions, major telecommunications companies, Fortune 100 corporations, Am Law and Magic Circle law firms.
Thanks for the info.Note that tcs is currently constructing buildings of size more than 7 lakh square feet in synergy park sez in gachibowli.this will complete the synergy park development post which tcs proposes to start the adibatla sez.This is common as no corporate wants to invest first in a remote locations when they have land in a bustling location like gachibowli .their plan is to complete this facility as it is in established location with good infrastructure.Note that adibatla did not even have proper connecting roads until the orr phase 2 got opened and aerospace park started.They never backed off even when there was recession.I'm sure they will start off once they complete development here like infosys went to pocharam after completing IT park in gachibowli.
TCS is commited to hyderabad as of now.We can say this because it expanded rapidly by taking space of 3,50,000 sft in waverock,nanakramguda and 1 lakh square feet in q city,nanakramguda according to reports published by cbre,dtz and cushman wakefield in the past five quarters.
As far as cognizant is considered it too started off excavating the large hillock present in the hmda sez in kokapet where it has land.It started first with this sez and not adibatla because of the its proximity to nanakramguda and orr junction.However building construction may start only in next year.note that this land was in legal wrangles until last year and cbay infotech started construction first in this sez.It has got the permission to set up unit in the sez and is co-developer of the sez.
As far as adibatla SEZ is considered it may get delayed but not scrapped.Poor connectivity,distant location is one of the reasons for this.To indicate the commitment of cognizant in hyderabad we can consider the company leasing 3,30,000 square feet in dlf sez,gachibowli and going for a Built to suit traansaction of 7,50,000 with mindspace over past 5 quarters.
Thanks for the info.