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Tata Consultancy Services (TCS) has plans to expand in Odisha for which it is adding 3,000 seats at its <keyword id="3167099" type="UNKNOWN" weightage="20" keywordseo="Kalinga-Park-centre">Kalinga Park centre</keyword> in Bhubaneswar, which has an operational capacity of 4,000 seats. 
 
For this, TCS inaugurated Phase II of the campus, leading to an addition of 3,000 seats. 
 
The TCS Kalinga Park is considered as India's first Platinum-rated LEED IT Campus. It is an approved Special Economic Zone and serves global TCS customers in industry segments like Banking &amp; Financial Services, Retail, Telecom, Manufacturing, and Government. 
 
"Odisha has a strong education ecosystem that is helping source great talent from the region. We are delighted with the growth of our operations and the support of the state government that will help us drive growth of the IT industry in the state", said TCS CEO and Managing Director N Chandrasekaran.

TCS is tapping talent in Odisha, unveils plans to add 3,000 seats in Kalinga Park

<ul><li>The second-largest city of <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> is all set to host the most prosperous business of the day – technology.</li><li>After the pandemic, most IT employees have been working from home and have been reluctant to come back to work, after they have shifted base to their hometowns.</li><li>IT companies have started moving closer to talent, most of which resides away from large cities.</li><li>As per a report by Naukri.com, <keyword id="6361828" type="General" weightage="100" keywordseo="coimbatore" source="Orion">Coimbatore</keyword> showed the maximum year-on-year growth of 60% in hiring across all non-metro cities in June this year.</li></ul>A year after Coimbatore shifted hands from Tipu Sultan to the British, a failed coffee merchant Robert Stanes kickstarted its long journey of industrialization. Apart from motor works and other foundries, he also helped establish textile mills. By the time the Bombay textile boom had started to wane, this Southern city on the other end of the country picked up – and prospered as road and rail connectivity improved. A similar revolution seems to be afoot in this second largest city of Tamil Nadu, and is all set to host the most prosperous business of the day – technology. <keyword id="6357150" type="General" weightage="50" keywordseo="tcs" source="Orion">TCS</keyword> already has a small office in the city. <keyword id="6354512" type="General" weightage="50" keywordseo="infosys" source="Orion">Infosys</keyword> and IBM’s ‘future of work’ strategies are making them set-up offices in tier-2 cities and on the top of these lists is Coimbatore. <keyword id="43217" type="General" weightage="50" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> however has already inaugurated its new campus there, which it hopes will drive business growth in unexplored markets. “The campus will focus on developing new technology stack pertaining to intelligent automation, artificial intelligence/robotic process automation, full-stack development, customer experience (CX), and other next-gen application development and management skills (ADMS) skills,” Harshvendra Soin, global chief people officer and head of marketing at Tech Mahindra told Business Insider India. <cmsannotation type="cmsannotation" annotationid="IT companies are going where talent is" comment="subhead" text="IT companies are going where talent is">IT companies are going where talent is</cmsannotation> After the pandemic, most IT employees have been working from home and have been reluctant to come back to work, after they have shifted base to their hometowns. Rental expenses and other increased living expenses have been holding them back from returning to cities. IT companies have started moving closer to talent, most of which resides away from large cities. “Through this new campus, we will aim to provide growth opportunities and make the most of the immense potential held by several individuals residing in Coimbatore,” Soin said. Most such people graduated from top engineering colleges in and around the city like <keyword id="748277" type="General" weightage="50" keywordseo="coimbatore-institute-of-technology" source="Orion">Coimbatore Institute of Technology</keyword> (CIT), GCT Coimbatore and many more – providing them with ready-made talent. After the city of <keyword id="12864" type="General" weightage="50" keywordseo="chennai" source="Orion">Chennai</keyword> has expanded to its zenith with various IT offices, the state government too is keen on promoting Coimbatore to tech companies. On July 4, Tamil Nadu Chief Minister MK Stalin inaugurated the Rathinam Business and IT Park in Coimbatore which will be home to at least 20 companies – and aims to create over 3,500 job opportunities both directly and indirectly. <cmsannotation type="cmsannotation" annotationid="Better than metros and then some more" comment="subhead" text="Better than metros and then some more">Better than metros and then some more</cmsannotation> This city has already been creating jobs and is the best amongst all non-metros. As per a report by Naukri.com, Coimbatore showed the maximum year-on-year growth of 60% in hiring across all non-metro cities in June this year. The overall hiring in tier 2 and 3 cities is expected to rise in the coming months. Coimbatore is also high on livability index a<a href="https://www.deccanchronicle.com/nation/current-affairs/310317/coimbatore-ahead-of-metros-study.html">nd has been </a>beating Chennai, Bengaluru, Gurgaon and all other tech hubs for years now. Livability index is calculated on the basis of the cost of living, pollution, traffic, quality of living etc. As per reports, cost of living in Coimbatore is around 22% less than Gurgaon and as many as 65% techies would rather work at tier-2 and tier-3 towns rather than a metro. Moreover, Coimbatore city is well-known for its diverse offerings to tourists and residents alike with malls and temples and history that dates back to none other than Romans. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/this-is-why-it-costs-more-to-order-online-on-zomato-and-swiggy-than-to-dine-in/articleshow/92798769.cms">This is why it costs more to order online on Zomato and Swiggy than to dine-in</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/dmart-gets-it-mojo-back-from-monsoons-and-school-going-children/articleshow/92796927.cms">Unlockdowned - DMart gets it mojo back from monsoons and school-going children</a>

Coimbatore – from a textile hub to tech hub

<ul><li>Global investment firm, Brookfield Real Estate Investment Trust’s (REIT), public issue has hit the capital market today (February 3) to raise up to ₹3,800 crore.</li><li>The company provides commercial space on rent to multinational corporations such as Barclays, Bank of America Continuum, RBS, Accenture, Tata Consultancy Services and Cognizant.</li><li>The company has incurred losses in FY20 and has not paid out any dividends.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>Global investment firm Brookfield Real Estate Investment Trust’s (REIT) public issue has hit the capital market today (February 3) to raise up to ₹3,800 crore. The company is the third trust in India to go for an initial public offering (IPO) — the other two being Embassy Office Parks REIT and Mindspace Business Parks REIT. However, the issue hasn’t received any major response in the first three hours of opening. According to the stock-exchange data, the total subscription stood at 2% of the total offer value. Even in the <a href="https://chanakyanipothi.com/brookfield-reits-ipo-grey-market-premium-gmp-analysis/">grey market, </a>it failed to garner any response, and it suggested a discounted listing. The company on Tuesday raised ₹1,710 crore from anchor investors such as HDFC AMC, SBI Life, Tata AIG, HDFC Life, Kotak Mahindra AMC and others, ahead of its public issue. <keyword id="8468280" type="UNKNOWN" weightage="20" keywordseo="Brookfield-REIT">Brookfield REIT</keyword>, the country's only 100% institutionally managed public, commercial real estate vehicle has set the price band at ₹274-₹275. The real estate investment trust is sponsored by an affiliate of Brookfield Asset Management (BAM), one of the world’s largest alternative asset managers with approximately $575 billion in assets under management, as of September 2020. Street view on <keyword id="10024217" type="UNKNOWN" weightage="20" keywordseo="Brookfield-REIT-IPO">Brookfield REIT IPO</keyword> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KR Choksey </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe with long term perspective </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody></table> All you need to know about Brookfield REIT IPO: <ul><li>Bids can be made for a minimum lot of 200 units and in multiples of 200 units thereafter by bidders other than the units subscribed for by anchor investors.</li><li>The units are proposed to be listed on BSE and NSE.</li><li>The public issue's net proceeds will be utilised for partial or full pre-payment or scheduled repayment of the existing debt of asset special purpose vehicles.</li></ul>From marquee multinational clients to weak financials, high debt on books and potential slowdown in demand for commercial space — here's what analysts have to say about the IPO TCS, BoA, Barclays and Accenture are some of its tenants! Brookfield REIT’s initial portfolio consists of four large campus-format office parks, located in Mumbai, Gurugram, Noida and Kolkata. And it has a list of marquee tenants -- Barclays, Bank of America Continuum, RBS, Accenture, Tata Consultancy Services and Cognizant -- that have leased the commercial space with 75% of gross contracted rentals. According to Axis Capital, its initial portfolio's completed area has a same-store committed occupancy of 92%. But the concern could be from the fact that a significant portion of revenue being derived from a limited number of tenants and sectors. <div type="image" title="REIT tenants" msid="80667920" hostid="261"></div> And the operations of the company may be adversely affected if one or more of these large tenants seek to prematurely terminate lease or any of the sectors in which the tenants of its initial portfolio are concentrated. Mark-to-market headroom provides cash stability The company has a weighted average lease to expiry 7.1 years, which provides stability to its initial portfolio's cash flows. Other than that, it is also well-positioned to achieve further organic growth through a combination of contractual lease escalations,36% mark-to-market headroom to in-place rents, lease-up of vacant space. The mark-to-market headroom practice involves adjusting the value of an asset to reflect its value as determined by current market conditions. Concerns: Weak financials, muted growth and high debt on books The company has incurred losses in FY20 and has not paid out any dividends, they expect to pay a yield of 7.5% in FY23, which according to Angel Broking is “aggressive” and may be difficult to achieve. “Post the IPO there will also be a debt reduction of ₹3,575 crore for the company which will bring down the overall debt. However due to the current uncertainties around Covid-19 and proliferation of work from home we expect that demand for commercial real estate to be muted,” the brokerage said. The report further added that it would take a long time for the company to increase its revenue as REIT has under development property of 0.1 marginal standing facility only along with its 92% of committed property which has already been leased out. The commercial spaces could see slowdown in demand Commercial office space was the least impacted segment in real estate amid the COVID-19 outbreak. However, other reports have highlighted that the increasing trend in work from home (WFH) can lead to a higher vacancy in key market geographies and can create a slowdown in demand for commercial space in the near term. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/budget-2021-22-prioritises-gaganyaan-indias-human-spaceflight-mission-over-all-others-heres-why/articleshow/80663272.cms" data-type="tilCustomLink">Budget 2021-22 prioritises Gaganyaan, India’s human spaceflight mission, over all others — here’s why</a> <a href="https://www.businessinsider.in/stock-market/news/home-first-finance-company-ipo-lists-at-618-19-premium-over-the-issue-price/articleshow/80662539.cms" data-type="tilCustomLink">Warburg Pincus-backed Home First Finance Company IPO lists at 19% premium over the issue price</a>

TCS, Accenture and Barclays’ landlord, Brookfield REIT IPO, has received a mixed response from brokerages — here’s what they have to say

You Searched For "TCS Kalinga Park campus" and got 3 results

TCS is tapping talent in Odisha, unveils plans to add 3,000 seats in Kalinga Park

BI India Bureau

Coimbatore – from a textile hub to tech hub

Vaamanaa Sethi

TCS, Accenture and Barclays’ landlord, Brookfield REIT IPO, has received a mixed response from brokerages — here’s what they have to say

Navdeep Yadav

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