Tata Realty to develop property for TCS

Tata Consultancy Services (TCS) and Tata Realty And Infrastructure (TRIL) have entered into a memorandum of understanding (MoU) to develop properties on land owned/to be owned by TCS.

According to a release issued by TCS to the BSE today, the MoU covers eight properties located in Pune, Trivandrum, Kochi, Ahmedabad, Hyderabad, Kolkata, Nagpur and Mangalore totaling approximately 380 acre.

"The properties will be developed in a phased manner over the next few years for the company. The buildings will be constructed and owned by TRIL (or by special purpose vehicles set up by TRIL) and will be leased to the company," the release added.