Tech Mahindra to invest Rs 1,000cr

Mumbai-based IT services vendor Tech Mahindra will invest Rs 1,000 crore to set up three development centres in Chandigarh, Jaipur and Noida.

The company will invest Rs 200 crore in a software development centre in Chandigarh to be developed in two phases while investing Rs 800 crore in the other two centres.

The Chandigarh campus will seat 2,500 professionals in the first phase, and 5,000 when fully completed.

The integrated campus at the Rajiv Gandhi Technology Park will be built on 15 acres of land and offer video conferencing facilities, training centres, food courts, an amphitheatre, recreation facilities, a swimming pool, a gymnasium and a sports complex for employees.

Vineet Nayyar, vice-chairman and managing director, said: "The organisation has been on a continuous journey of transformation, addressing new players in the telecom ecosystem and expanding service lines. Once completed, Chandigarh will be integral to the expansion of the company's service offerings and delivery capabilities."