HCL Technologies to sell Bengaluru office assets

01 Dec 2023 CW Team

The software services company is seeking to divest its special economic zone campus located in the Jigani industrial area, spanning 27 acres with a total area of 1.6 million square feet.

Insiders suggest that a potential sale could generate around Rs 5.5 billion for HCL Tech.

Over the past year, HCL has been monetising various assets following its exit from the hardware business, which is considered non-core for them. The move aims to consolidate operations across different cities, as stated by one of the individuals with knowledge of the situation.

In addition to the Bengaluru assets, HCL Tech acquired more than 6.5 acres of land in Chennai last year, boasting a built-up area of 5.5 lakh sq ft. Another source familiar with the company's real estate portfolio realignment process mentioned that the deal was concluded last year, and HCL is actively exploring more asset monetisation opportunities.

A spokesperson for HCL Tech had previously mentioned the company's plan to bring back 70?75% of the workforce to the office by the end of the current year. However, in response to recent queries, a spokesperson stated, "As a policy, we do not comment on market speculation."

As of September 2023, HCL Tech's total headcount stands at 221,139. During the September quarter, the company reduced its workforce by 2,299 employees while adding 3,630 freshers, resulting in an attrition rate of 14.2%.

The ongoing transition to hybrid work post-pandemic is reshaping India's real estate landscape, emphasising the importance of collaboration over physical occupancy. Consequently, IT companies are adjusting their property portfolios accordingly. Recent data indicates a surge in office space absorption in major property markets, reaching an 18-month peak in the September quarter, with leasing hitting a six-quarter high of 10.37 million sq ft across the top seven office property markets?a 30% increase from the previous quarter.

HCL Technologies intends to offload its office assets in Bengaluru as part of its strategy to monetise non-core real estate assets and streamline operations, according to sources familiar with the matter. The software services company is seeking to divest its special economic zone campus located in the Jigani industrial area, spanning 27 acres with a total area of 1.6 million square feet. Insiders suggest that a potential sale could generate around Rs 5.5 billion for HCL Tech. Over the past year, HCL has been monetising various assets following its exit from the hardware business, which is considered non-core for them. The move aims to consolidate operations across different cities, as stated by one of the individuals with knowledge of the situation. In addition to the Bengaluru assets, HCL Tech acquired more than 6.5 acres of land in Chennai last year, boasting a built-up area of 5.5 lakh sq ft. Another source familiar with the company's real estate portfolio realignment process mentioned that the deal was concluded last year, and HCL is actively exploring more asset monetisation opportunities. A spokesperson for HCL Tech had previously mentioned the company's plan to bring back 70?75% of the workforce to the office by the end of the current year. However, in response to recent queries, a spokesperson stated, As a policy, we do not comment on market speculation. As of September 2023, HCL Tech's total headcount stands at 221,139. During the September quarter, the company reduced its workforce by 2,299 employees while adding 3,630 freshers, resulting in an attrition rate of 14.2%. The ongoing transition to hybrid work post-pandemic is reshaping India's real estate landscape, emphasising the importance of collaboration over physical occupancy. Consequently, IT companies are adjusting their property portfolios accordingly. Recent data indicates a surge in office space absorption in major property markets, reaching an 18-month peak in the September quarter, with leasing hitting a six-quarter high of 10.37 million sq ft across the top seven office property markets?a 30% increase from the previous quarter.

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..

Equipment

09 Mar 2026

Company showcases North America-certified machinery and secures new deals

Zoomlion Heavy Industry Science & Technology Co., recently showcased a wide portfolio of North America-certified and customised construction equipment at CONEXPO-CON/AGG 2026 in Las Vegas. The display included engineering hoisting machinery, concrete equipment, earthmoving machinery, mining equipment and construction hoisting solutions tailored to regional operational requirements.All equipment presented at the exhibition complies with North American certification standards, with several models specifically developed to meet local regulatory requirements and site conditions. One of the hig..