Thinksoft Global Services will spend Rs 24 crore on a new facility in Chennai’s IT corridor to accommodate 450 employees.
The facility located on the Old Mahabalipuram Road has a built-up area of around 38,000 sq ft and the office space is expected to be ready for occupation by this year-end, says a company press release.
This new facility, which is into software testing, will be its second delivery centre in the city. The other centre is located inside the Madras Export Processing Zone with a combined capacity to accommodate over 700 employees.
The total cost of the new facility 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, the release says.