INRnews - Indian Real Estate News

Through the expanded program, which includes the expenditure of over $200 million through the end of 2008 on land acquisition, facilities construction and furnishing, the company expects to build new fully owned techno-complexes that will significantly increase Cognizant’s existing campus footprint in India with the addition of over three million square feet and capacity for over 30,000 new employees.

The campuses are planned to be built in regions designated as Special Economic Zones. Construction is expected to begin in the first quarter of 2007 and continue through the end of 2008. In addition to the construction of owned facilities, Cognizant will continue to lease additional new facilities throughout India as required to meet its headcount growth requirements.

“Cognizant has grown faster than our competition over the last several years, and our strong pipeline reinforces our confidence in our future growth plans,” said Gordon Coburn, Chief Financial Officer of Cognizant. “Our strategy of making ahead-of-the-curve investments in our people and infrastructure has established Cognizant among the top tier companies in the offshore outsourcing industry. As we plan for the next phase of Cognizant’s growth, we are focused on building the scale to address the needs of our businesses around the world. Building larger Cognizant-owned facilities in India is a key part of our strategy. We expect our new construction program will enable us to meet growing customer demand in North America, Europe, South America and Asia and continue to attract the industry’s most talented and best people.”

About Cognizant

Cognizant (NASDAQ: CTSH) is a leading provider of IT services. Focused on delivering strategic information technology solutions that address the complex business needs of its clients, Cognizant uses its own on-site/offshore outsourcing model to provide applications management, development, integration, and reengineering; infrastructure management; business process outsourcing; and numerous related services, such as enterprise consulting, technology architecture, program management, and change management.

Cognizant's more than 35,000 employees are committed to partnerships that sustain long-term, proven value for customers by delivering high-quality, cost-effective solutions through its development centers in India and on-site client teams. Cognizant maintains P-CMM and SEI-CMM Level 5 assessments from an independent third-party assessor, was recently named one of Forbes' Best Small Companies in America for the fourth consecutive year, and ranked among the top information technology companies in BusinessWeek's Hot Growth Companies. Cognizant is a member of the NASDAQ-100 Index.