Tech behemoth Cognizant is embarking on a significant real estate reshuffle, putting its historic Chennai headquarters on the market for a potential windfall of ₹800 crore. This sprawling 15-acre campus, encompassing a substantial 4 lakh square feet of office space, has been the company’s anchor in Chennai for over two decades.
The sale, brokered by real estate consultancy JLL, signifies a strategic shift for Cognizant in India. The company plans to relocate its India headquarters to its existing MEPZ campus located near Tambaram on GST Road. This move aligns with Cognizant’s efforts to streamline operations and centralize its presence in Chennai. The company currently operates out of three of its own buildings across the city – MEPZ, Sholinganallur, and Siruseri. Furthermore, Cognizant has been shedding leased office spaces across various locations in Chennai.
Market experts anticipate the sale to be finalized by December 2024, with potential buyers likely to include prominent local developers like Baashyaam Group and Casagrand. This strategic divestment signifies Cognizant’s commitment to operational efficiency and potentially opens the door for a new chapter for its India headquarters in a more centralized location. While the reasons behind the specific relocation haven’t been officially disclosed, the move to a self-owned campus could offer Cognizant greater control over infrastructure and potentially lead to cost savings in the long run.
