Nagpur: At a time when IT companies are sticking with work from home model,
Persistent Systems Ltd has taken up land for a new campus at Mihan-SEZ.
The company, which is presently at the IT Park near VNIT, was on Thursday allotted 13.5 acres in the Mihan-SEZ being developed by Maharashtra Airport Development Company (MADC), a state government agency. MADC will be charging Rs70 lakh per acre for the land.
This is the first allotment at Mihan-SEZ after the Covid outbreak. However, Persistent Systems is late for availing the income tax benefit available to an SEZ unit. The benefit was withdrawn in March 2020 and only units operational before that will get it. The company will continue to get exemption on customs and GST, apart from other services at lower rates including power.
A new foreign trade policy is under process and it is hoped some benefit may be introduced in place of income tax.
Issuing allotment letter is the first step towards leasing land in SEZ area. Sources said Persistent had paid the initial cost towards the land. MADC, which held its board meeting on Thursday night, approved the allotment.
Persistent has 1,500 techies at its current centre and plans to at least triple the number when the Mihan campus becomes fully operational.
Sameer Bendre, the chief people’s officer of Persistent at Nagpur, said the decision on acquiring the land in Mihan was taken before the pandemic but was delayed due to the outbreak.
“The company was always upbeat about developing the Nagpur centre for which a bigger campus was planned. The present capacity is already full and the company will be needing space to house more techies,” said Bendre.
He said it may take at least two years for the new building to be ready. By that time they may begin with 3,000 techies. The final projections are to take the number to 4,500. All its centres clubbed, Persistent is a 12,000 strong company, he said.
Bendre said in the coming days IT companies are expected to work on a hybrid model that involves working from both campus and from home depending on the need. Moreover, the pandemic may be over in next six to eight month and the scene may change.
Persistent vice-chairman-cum-managing director Deepak Kapoor also tweeted about the development.
A majority of the industries in Mihan are from the IT sector. Sources said at present work from home continues largely and only a couple of small units have restarted their offices.