Kolkata, Apr 12 (PTI) US listed IT services company Genpact has tied up with city-based Simplex Infra for co-development of a technology park in Kolkata, a Genpact official today said.

Genpact has 1.5 acre leased land in the IT hub of Salt Lake sector V of the city and Simplex Infra will develop the ‘Imagine’ Tech Park.

“This will enable us to get a portion of the developed property without any investment in construction. We mostly follow asset-light model globally,” Genpact HR head Piyush Mehta said here today.

“We did not want to block capital in construction.

We’d rather invest in research and development activities. We will be getting some 1.1-1.2 lakh sq feet of built-up space against the value of our land,” another Genpact official said.

Simplex Infra Technopark managing director Rajiv Mundhra said the G+25 building will have built up space of 6,00,000 square feet and will cost about Rs 150 crore. Out of this, some 1.10-1.20 lakh sq feet will be given to Genpact as part of the co-development terms.

In a recent investors’ meet, Genpact had indicated that the company was looking at high single digit or low double-digit growth in 2018.

However, Mehta did not divulge the number of people it will recruit after the new facility comes up by around 2021.

As of now, Genpact employs around 3,000 people in the city. The company had begun its journey in 2004 here with 300 people.

IT additional chief secretary Debashis Sen, who was present at the foundation stone laying ceremony along with IT minister Bratya Basu, said the latest Genpact initiative signifies that Sector V is on the path of revival again.

Of late, the IT industry has largely remained depressed owing to global uncertainties and there has been news of job cuts by the IT majors across the country and Kolkata has been no exception.

He also said that the Falta electronic manufacturing cluster is ready and other IT parks outside Kolkata are under development.

This is published unedited from the PTI feed.