TCS to set up Rs 600 cr Nagpur campus; will create 8,200 jobs

Mumbai: The country’s largest software exporter Tata Consultancy Services today said it will build a new software development unit in Maharashtra at an initial investment of Rs 600 crore, creating jobs for over 8,200 professionals.

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The campus will be located at Nagpur, Maharashtra, in the Mihan Special Economic Zone (SEZ), Tata Consultancy Services (TCS) said in a filing to the BSE.

“Nagpur has the potential to become the next big hub for knowledge-based industries like IT and engineering with its strong eco-system of universities, talented people and infrastructure,” TCS CEO and MD N Chandrasekaran said.

The TCS Nagpur campus will be built in two phases, the first of which will contain 8,200 seats for IT services and BPO services. The second phase will be of similar scope, it said.

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Once the project is completed, the campus will accommodate 16,000 associates, the filing added.

Shares of TCS were trading at Rs 1,120.25 apiece on the BSE today, down 2.03 percent from their previous close.

Standard Chartered Research has recommended ‘In-Line’ on Tata Consultancy Services with a price target of Rs 1,100 as against the current market price (CMP) of Rs 1,172 as the company’s strond geal pipeline should sustain its volume leadership over the medium term. However, the research house is cautious on core margin as the company’s growth has been relatively weak in the last four quarters when compared with Infosys.

Agencies