Tata Consultancy Services Ltd (TCS) signed an agreement to acquire 100 per cent equity shares of Darshita Southern India Happy Homes Private Limited for Rs 2,250 crore. The acquisition aims to secure land and a commercial building to serve as a new delivery centre for the IT services giant.
Darshita Southern India Happy Homes is engaged in developing commercial real estate. The entity has not generated revenue in the past three years as the property is still under development. The acquisition will be executed through a cash transaction, with TCS holding a call option to complete the deal after two years.
According to the company, "Incorporated in September 2004, the entity is engaged in developing a commercial property, which would be let on lease to prospective industrial consumers. Since the property is still under development, revenue generation is yet to commence; hence, the last three years' turnover is nil."
TCS has a call option to acquire 100 per cent equity shares in the entity after two years. In January 2025, TCS announced the acquisition of two wholly owned subsidiaries of Tata Realty and Infrastructure Limited, TRIL Bengaluru Real Estate Five Limited and TRIL Bengaluru Real Estate Six Limited, for Rs 1,625 crore.
The deal was concluded towards the end of January 2025. In a regulatory filing, the company said, "We wish to inform you that the Share Purchase and Securities Purchase Agreement (SSPA) has been executed today between Tata Consultancy Services Limited (Company), Tata Realty and Infrastructure Limited (TRIL), and Entities for the acquisition of 100 per cent of (i) equity shares and (ii) optionally redeemable convertible debentures of Entities held by TRIL, in two tranches."
Upon execution of the SSPA, 65 per cent of (i) equity shares and (ii) optionally redeemable convertible debentures have been transferred to the company in the first tranche, making these entities subsidiaries.
