Mumbai: Thinksoft Global Services Ltd. (“Thinksoft” or “Company”) today announced that it has acquired its own modern facility in Chennai on the Old Mahabalipuram Road (OMR), the main IT corridor in Chennai.
The facility can accommodate 450 personnel and has a super built-up area of a little over 38,000 sq. ft. The office space is expected to be ready for occupation after the interiors and fitouts are done by end of this calendar year.
Commenting on the transaction, Asvini Kumar, Managing Director, Thinksoft, said “The key reason for the purchase of the property is to consolidate our delivery centers in Chennai, which would ensure benefits by way of reducing operating costs as well as providing administrative efficiency.”
The new facility is being developed to meet client requirements and is in conformity with international security and confidentiality standards.
With this addition, Thinksoft will now have a second delivery centre in Chennai, on an ownership basis , the other being its centre at MEPZ, Tambaram, with a combined capacity to accommodate more than 700 employees.
The total cost of the facility including interiors will be around Rs. 24 crore, which will be part funded through Term Loan from banks to the extent of Rs. 15 Crore while the balance will be met out of internal accruals of the company.