Leading IT company Cognizant Technologies plans to sell its office assets in Hyderabad and Bengaluru. It is reported that this decision has been taken as part of the strategy to invest in non-core real estate. It plans to sell the 10-acre campus in Gachibowli, Hyderabad, and a 14-acre campus in Chennai. It will also shed 11 million square feet of office space to save $400 million over two years as part of a cost-cutting plan. Cognizant Company is evaluating its entire real estate portfolio. It vacated rented properties in some areas. In some places, the rent agreements were reduced by talking to the owners. Cognizant has an office space of around 2.5 lakh square feet on 10 acres of land in Hyderabad. Also, before COVID, it was supposed to take 1.5 million square feet of space in Hyderabad. Now it has reduced it to one million square feet.
