This Thread is about the updates,news... Of IT Park/IT SEZ Project's @Hyderabad
Both(Upcoming & Present)
Both(Upcoming & Present)
Social networking major Facebook has firmed up expansion plans for its India support centre in Hyderabad. It has sought an additional 1,00,000 square feet office space at Raheja Mindspace SEZ here.
At present, it has about 30,000 sft and its headcount stands at 100. According to industry officials, 1,00,000 square feet will imply a direct employment to 1,000 people.
“Facebook has sought additional space in the same premises. The agreement was finalised only last month,” confirmed an official of the IT department of the AP government. However, no time frame has been fixed to reach to this capacity, he said.
The expansion plans coincide with one year celebration of Facebook in India. The Hyderabad centre now supplements its global operations and support teams located in Palo Alto, Dublin and Austin.
In the latest sign that India's tech sector has ambitions beyond everyday software maintenance and development work, Swedish aerospace giant Saab said it plans to open a technology center on the subcontinent where engineers will focus on new product development and critical systems design for military and civilian aircraft.
The Saab India Technology Center will be operated by outsourcer Mahindra Satyam, which also handles some systems design work for European aircraft manufacturer Airbus. Satyam will locate the tech center at one of its existing facilities in Hyderabad later this year.
Engineers at the 300-seat center will work on new product development and product sustenance engineering, which focuses on keeping existing systems up to date. "India presents a huge opportunity for Saab across their business areas in aeronautics, dynamics, electronic defense systems, and security and defense solutions," Saab officials said in a statement.
Beyond its significance as a sign that India's outsourcing market is diversifying, the deal represents the latest step in Satyam's revival following an accounting scandal that nearly brought the company down.
1 million( is equal to 10 lakh sq ft) is the total absorbtion of space in Hyderabad how come 80 lakh sq ft space (8 million sq ft) is mopped by IT/ITes sector alone in Hyderabad just in one quarter?NCR 64 lakhs sq ft (6.4 million sq ft) Chennai 54 lakhs sq ft (5.4 million sq ft) pune 48 lakhs sq ft (4.8 million sq ft) are all higher than Bangaluru 2.96 million sq ft (29.6 lakhs sq ft) This news appears to be distorted.Kindly post accurate news and brush up your mathamatics before denoting cheers symbol.:nuts:http://timesofindia.indiatimes.com/...sector-a-booster-dose/articleshow/9364427.cms
IT gives city realty sector a booster dose
TNN | Jul 26, 2011, 12.52AM IST
HYDERABAD: The Telangana issue may have kept Andhra Pradesh on the boil, but Hyderabad continues to beat the T-heat by reigning as a hot and happening destination for IT/ITeS :bananainformation technology and IT enabled services) sector, according to the latest report of real estate consultancy major Cushman & Wakefield.
In fact, with the exception of Bangalore, Hyderabad beat other key IT/ITeS destinations like Chennai, NCR and Pune when it comes to luring IT/ITeS players to mop up office space during the April-June 2011 quarter.
According to Cushman & Wakefield, of the total 1 million sq ft space that was lapped up by companies in Hyderabad during the quarter, nearly 80 lakh sq ft space was mopped up by the IT/ITeS sector, with the remaining being picked up by sectors like BFSI (banking, financial services and insurance), engineering and consulting.:cheers:
In comparision, NCR saw 64 lakh sq ft space being picked up by IT/ITeS players, Chennai 54 lakh sq ft and Pune 48 lakh sq ft space. Bangalore saw a whopping 2.96 million sq ft space being lapped up by IT players during the quarter.
The quarter saw social networking giant Facebook expand its presence in the city by leasing another 1.2 lakh sq ft space at the Raheja Mindspace, where it had made its debut in the middle of last year.:righton:
Interestingly, the total 1 million square ft space absorption during the April-June quarter this year marks a 13% jump over total office space absorption in the city during the January-March 2011 quarter, putting to rest the fears that the T-stir was taking its toll on the city's growth prospects.
"Hyderabad, which has been under the scanner due to its current political conditions, has put up an impressive growth which has shown promise over the last few quarters," said Arvind Nandan, executive director (consultancy services) Cushman & Wakefield. In fact, "Hyderabad remains dependent on the growth of IT/ITeS and is expected to remain so," Nandan added.
The reason for the healthy demand for space from the IT/ITeS sector is largely driven by the fact that IT/ITeS companies have long ago discounted the T-factor, explained Naveen Nandwani, office director (Hyderabad and Bangalore) at Cushman & Wakefield.
According to Cushman & Wakefield, IT/ITeS would continue to drive demand for office space in the city in the coming quarters as well despite the fact that a supply of around 1.5 lakh sq ft was expected to be added during the July-September 2011 quarter as several large projects get completed.
The trend of increasing absorption, the report added, was likely to continue during the second half of the year because the second half of the year usually sees a larger absorption of space going by previous yearly trends. "The demand for office space in Hyderabad is outstripping supply and putting pressure on rentals especially in the IT district. Rentals which were in the Rs 34-38 per sq ft range in areas like Madhapur are expected to go up in the coming quarters," Nandwani explained.
According to Cushman & Wakefield, of the total 1 million sq ft space that was lapped up by companies in Hyderabad during the quarter, nearly 80 lakh sq ft space was mopped up by the IT/ITeS sector, with the remaining being picked up by BFSI (banking, financial services and insurance), engineering and consulting.
:cheers:
It may be 10 Million for Hyderabad & 29.6 Million sqft for Bangaluru.1 million( is equal to 10 lakh sq ft) is the total absorbtion of space in Hyderabad how come 80 lakh sq ft space (8 million sq ft) is mopped by IT/ITes sector alone in Hyderabad just in one quarter?NCR 64 lakhs sq ft (6.4 million sq ft) Chennai 54 lakhs sq ft (5.4 million sq ft) pune 48 lakhs sq ft (4.8 million sq ft) are all higher than Bangaluru 2.96 million sq ft (29.6 lakhs sq ft) This news appears to be distorted.Kindly post accurate news and brush up your mathamatics before denoting cheers symbol.:nuts:
It may be 10 Million for Hyderabad and 29.6 Million sqft for Bangaluru.1 million( is equal to 10 lakh sq ft) is the total absorbtion of space in Hyderabad how come 80 lakh sq ft space (8 million sq ft) is mopped by IT/ITes sector alone in Hyderabad just in one quarter?NCR 64 lakhs sq ft (6.4 million sq ft) Chennai 54 lakhs sq ft (5.4 million sq ft) pune 48 lakhs sq ft (4.8 million sq ft) are all higher than Bangaluru 2.96 million sq ft (29.6 lakhs sq ft) This news appears to be distorted.Kindly post accurate news and brush up your mathamatics before denoting cheers symbol.:nuts: