Real Estate developer DLF has said that the office space in the third Phase of its IT SEZ, DLF Cybercity Chennai, is likely to be be ready for handing over from September this year. The company also hopes to complete construction of the entire phase in a year from that month. The company expects about 70 corporate firms to occupy the space once the phase, the last of the project, is completed.
Amit Grover, director, DLF Offices, said that construction work for the three-block phase has already commenced and that the company would invest around Rs 500 crore for developing a total of 1.6 million square feet.
"We are very delighted that DLF today provides infrastructure, operational excellence and experience for 55 global and Indian companies operating their software, R&D, design and BPO centres and 65,000 tenant associates. It is also part of the success story to help our tenant companies to contribute to export to the tune of 42,000 crore," he said. He added that Chennai is the second largest city in terms of the company's office space development after Gurgaon.
"The Phase III development will add 1.6 million sq ft of premium office space and contribute around Rs 134 crore annually in earnings to DLF," Grover said. Once completed the campus will be the largest operational IT project in Chennai, with a total area of 7.2 mn sqft.
The facility will have Cyberhub, Gurgaon, a 1,200-seater food hall-cum-multi-cuisine food court, with a new sports hub, creche, daycare, banking & financial service and convenience facilities among others.
DLF has reported a total revenue earning of Rs 1,970 crore in FY 15-16 and projected earnings of Rs 2,131 crore in FY 16-17. The DLF SEZ Campus has been supportive to provide direct employment to about 62,729 people and has generated approximately 5,523 indirect employment opportunities.The total revenue earnings from its clientele is worth Rs 42,405 crore, it said.
