» Business » DLF to build three more tech parks

DLF to build three more tech parks

August 08, 2006 11:33 IST

Realty company DLF Ltd's stake in information technology parks just got bigger. After announcing 12 IT parks, the company is looking at setting up three more such parks in Noida, Nagpur and Bhubneswar.

The company issued the first letter of intent for an IT Park in Nagpur in July. The company had filed the letter of intent for another one in Bhubneshwar in the first quarter of 2006.

The company will be investing Rs 150 crore (Rs 1.5 billion) for 10 acre IT park in Noida. It will be built to suit Computer Science Corporation, the world's largest software services company.

Therefore, DLF will develop the park as per CSC's specifications and then make money from leasing it to the ITTES company.

Previously, DLF has followed a similar model of built to suit in Gurgaon with companies such as Convergys, Nestle, Ericcson amd Genpact.

The company had acquired this land in the first quarter of this calendar year.

CSC will be using this development as its campus. It will comprise four office blocks, cafeterias, food court and amenities such as ATM machines and a bank.

The first phase is expected to be completed by next April. The entire campus should be operational by mid 2008.
Nayantara Rai in New Delhi
Source: source