After passing through a rather turbulent phase of five-years to commission its Orissa project, MindTree Consulting, one of India's leading mid-scale IT firms, has finally seemed to have breathed easy. More than five years of delay had cast doubts about the future of the project with MindTree itself opting to pull out and seeking refund of the cost it had deposited for allotment of land for its development centre. But by handing over possession of 20 acres of litigation free land in the Infocity area two days back the state government has kindled hope for the project.
MindTree is understood to have agreed to revive its Orissa project following a very recent meeting with the state government. MindTree will build a 10,000-seater software development centre in the city with a total built-up area of 1.5 million sq ft. MindTree, co-headquartered in Bangalore and Somerset in New Jersey (US) had announced an investment of around Rs 200 crore for the development centre in Bhubaneswar. The company had signed a MoU (Memorandum of Understanding) on August 29, 2006. The company was even alloted 20 acres of land at the Chandaka industrial estate. However, litigations surrounding the land parcel coupled with lack of initiative by the company had virtually pushed the project into a blond alley.
| Company Name | CMP |
|---|---|
| TCS | 2472.65 |
| Infosys | 1277.35 |
| HCL Tech. | 1429.90 |
| Wipro | 203.00 |
| Tech Mahindra | 1435.80 |
| View more.. | |
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