Prospects of Indian IT increases with the increase of the leased office spaces by companies
While the office spaces are really scarce in the country, the graded companies like Infosys and Cognizant are blocking more space than they require and they are not hiring so many people who can make use of the space utilized by them. As per the property counselor Cushman and Wakefield it was observed that a year ago these offices conserved more than 20% of the requisite space.
As India is becoming an aspiring spot for the business, the metropolis of the country are attracting the foreign companies and that shows the increase in the office space absorption. Companies like Wipro and Oracle are leasing enormous office spaces in the cities for their business.
Bengaluru, which is called the IT hub of India headquarters many multinational and domestic companies and that saw a gigantic 500% amplification in absorption rate in 2014. They learned about the field of statistics and marketing comment that Bengaluru and Pune offer retainable man power and infrastructural support to the companies and that is in turn increasing the viability of the residential spaces in the cities. The companies want to book as much as space for themselves and thus there is a constant run for the space to be required for building up the office.
There are some important real estate investors who are thus in the run to make the new and fashionable office spaces in the cities. There are the paranjape schemes and the Ascendas India trust who is in the work of buying and selling of the property to these companies. There are some companies who are buying large plots to avoid the extra surcharges that are generally levied by the real estate groups. In short the race for the acquiring the lands and making the office spaces is in the full swing.
As the statistics of Cushman and Wakefield reports, 13.36 million sq ft profitable rooms were postponed at the last part of 2014 in Mumbai, Delhi-NCR, Pune, Chennai and Hyderabad. Google is sitting one of its largest facilities internationally in Hyderabad with a built up space of about 2 million sqft. This new inclusion shall make the company appoint double headcounts in the offices in Hyderabad and their employee number shall reach to the figure of 13,000 employees over the next four years.
The same expansion has been made by Infosys where they have added 21500 seats in Bengaluru at the 80 acre campus of the Electronics City software hub. If this plan comes to be successful, then Bengaluru shall become the biggest center of the company in India and it shall then surpass Pune because the employment of the employees were 34,431 in Bengaluru as compared to 37,115 in Pune as of March 2015.
A similar increase in the headcount has been done by the Cognizant and the TCS. All these companies are heading in increasing the office space and increasing the headcounts in the places which shall provide them with easy infrastructure and social help. The plans for the hiring of the candidates are increasing in the companies. It has been reported by various anonymous persons of these companies that Infosys alone devices to appoint amid 25,000-30,000 graduates from India’s top engineering colleges this monetary year. So do Wipro and other companies.