Expansion reflects Genpact’s continued investment in IT talent and growth in East Hyderabad
Hyderabad, February 14, 2022: Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, today announced it is investing in East Hyderabad via a co-development agreement with Ramky Estates, a leading real estate developer with more than 26 years of experience in developing commercial and residential properties across all the major cities in south India.
Genpact and Ramky Estates aim to develop approximately 2 million sq ft of commercial office space through the project “Genext Square”.
This is an extension of Genpact’s ongoing commitment to support the growth of the IT industry in the eastern corridor of Hyderabad, under the LEAP (Look East Policy) and GRID (Growth in Dispersion) policy of the Telangana government. The policies aim to drive dispersed growth across the IT sector in Hyderabad, which has largely been concentrated in the western regions of the city.
“The focus of the state government to grow Hyderabad’s eastern IT corridor will be a catalyst to further India’s position as a global technology and digital hub,” said Vidya Srinivasan, global Infrastructure and Logistics leader, Genpact. “At Genpact, our strategic infrastructure and campus investments over the years have positioned us well to attract a diverse, skilled workforce. With this expansion, we are proud to partner with the Government of Telangana to boost employment opportunities, and diversify growth in an important, underpenetrated region. Two decades ago, before coming to Hyderabad, we were looking for our second site outside of Gurugram. Hyderabad was a sleepy city, but we had faith. Since then, the city and the company have transformed, Hyderabad became a megapolis, it’s got all the talent we need. We started as a small company with two hundred people and are today listed on New York stock exchange and are over 23000 people. We saw all our service lines and verticals grow and it’s a big testimony to the talent. While we started in Cybercity area, we, very quickly moved to the Uppal side, where we set up our campus. We continue to believe we are close to where the talent is and that’s why we have our focus on second phase of this building in Uppal and it is our commitment to the Eastern corridor. We had several ups and few downs, but the one thing that stood out for us is the constant support we got from you team sir and the administration. The last two years in particular have been really tough for all of us and the whole ecosystem and it is all the support that’s extended by the government that helped us to make sure that we focus on our commitment to our employees and our clients and so we don’t have to worry about the rest of the things, we leave them in your hand, and you become our sounding board. We are grateful to you. We are planning 15000 seats, this is our continued commitment to the eastern corridor of Hyderabad, we already have a large presence in Uppal phase one and in Pocharam and we will continue to grow in this place closer to the talent.”
Genpact was among the first companies to set up a campus in Hyderabad’s Uppal area, and recently set up a technology center in Warangal.
“Hyderabad is a city with no geographical constraints and has the scope to develop across all corners,” said Mr. Nanda Kishore, Managing Director, Ramky Estates. “With the high saturation of the western corridor, there is a huge opportunity to develop the east, which is abundant in space, infrastructural facilities, and talent. With this project, we are excited to work with the Government of Telangana to strengthen Hyderabad’s dispersion agenda.”
Minister for Information Technology and Industry, Shri K.T. Rama Rao attended the event to initiate construction on February 13th, organized by Genpact and Ramky Estates. The ceremony was also attended by officials of the Government of Telangana and Genpact leadership.
Shri K.T. Rama Rao, speaking on the occasion said, this is a wonderful new addition, another 2 mn. sft. of space being constructed on the eastern part of Hyderabad, out of which of course 50% is towards the expansion of the office space, is an achievement in itself. Since the formation of the Telangana state and our party coming to power, we, under the leadership of Hon’ble Chief Minister, ensured IT corridors are not limited to Hyderabad or certain pockets of the city and pursued aggressively its spread to other parts of the state. As part of it we brought Growth in Dispersion policy and are sincerely working to spread it to all corners of the city, not just to Western Hyderabad, but take it to East, North and South Hyderabad. Genpact had come forward and wanted to expand their office by almost 20 lakh sft. We wanted to encourage them whole heartedly and everyone involved from Government ensured all the arrangements for them. We are creating residential infrastructure in this East part of Hyderabad, the Uppal area, to accommodate a lakh IT employees. Besides that, we intend to establish a Security Council on the lines of Western Hyderabad’s Cyberabad Security Council in the Rachakonda area under Mr Mahesh Baghwat’s leadership. This Security Council ensures police, TSIIC and IT companies here too work closely and enable better living standards for the employees. As you are aware this area is relatively inexpensive compared to the Western part of Hyderabad and to enhance the standard of living here, we want to take some more measures, we established a Shilparamam in Nagole area and are making significant improvements in the infrastructure too in this area. A skyway is being built from Uppal to Narapally, constructing a skywalk at the Uppal Junction and completed Metro connectivity. I am confident that this region will also be on par with the Western Hyderabad, after completion of all these projects. We have also entered into an agreement with 4 to 5 private developers who have come forward to construct IT Parks in the areas housing sick industries, the Government will support them. The best Cricket stadium is in this part of the city which will attract crowds once IPL season starts, along with it the other social infrastructure will also improve. I also thank the Genpact Management for agreeing to come to Warangal as well.
Mr Gowtham Reddy, Managing Director, Ramky Enviro, said, but for Hon’ble KT Rama Rao garu’s vision and dynamic leadership in these seven years, the quantum of IT Development, Municipal development and other progress that took place in this state wouldn’t have been possible. Today we might be close to 12 lakh employment purely because of this. Creating one lakh employment in eastern part of Hyderabad and infrastructure that can take 2 lakhs is a fantastic accomplishment.