Infy cancels 20,000-seat project, cites infra lacunae

Infy cancels 20,000-seat project, cites infra lacunae

Infosys confirmed on Monday that it has pulled out of a project to set up a software development facility at the Devanahalli IT Park near Bangalore. It has shelved plans for the project due to lack of infrastructure.

“The company has conveyed its intention to surrender the land citing lack of infrastructure,” Infosys said in a regulatory filing on Monday.

Infosys has also asked the Karnataka Industrial Areas Development Board (KIADB) to refund the deposit for land it has paid. Infosys has taken the step citing lack of infrastructure at the 1,000-acre IT park to pursue its business plans.

The Bangalore-based firm had plans to build a development centre on 100 acres at the Devanahalli IT Park. Its main campus at Electronic City has 26,000 seats.
The company reiterated that backing out the project did not in any way affect its operations or performance.

Infosys had proposed to set up a 20,000-seat facility at the new campus, according to its original proposal to the government. In June 2010, KIADB allotted 40 acres to Infosys, which then requested an additional 60 acres.

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