IT services company Mindtree has pre-leased 600,000 square feet office space in parent Larsen & Toubro’s upcoming IT park in Chennai.
The over 10-year lease deal is for L&T Innovation Campus, a mixed-use development sprawling over 40 acres. “The deal was signed in the first quarter of 2021. The facility is scheduled to be delivered and be operational by the end of 2022, and can seat over 5,000 employees,” one of them said.
When completed, the 5.5 million-sq ft Innovation Campus will be one of the biggest IT parks in Chennai. It is coming up in the IT hub on Mount Poonamallee Road, Manapakkam. The site was earlier a manufacturing facility for L&T Valves.
“L&T’s Chennai project has received good response from various IT companies in India, US and Europe,” said one of the people cited above. “We are working on some pre-commitments, and we are headed in that direction.”
L&T, an over $21-billion infrastructure-to-technology conglomerate, had acquired Mindtree in 2019. It holds a 61.03% stake in the Bengaluru-based IT company that runs independently and employs over 35,000 people in India.
