2024-09-13 09:10:23
New Delhi: The world’s second most valuable company Microsoft has made a big land deal in India. According to Square Yards, the company has bought a land in Hinjewadi, Pune for Rs 519.72 crore. Pune is one of the major IT hubs of the country. In recent years, Microsoft has increased its investment in India’s commercial real estate sector. The company has many data centers, development centers and offices in India. Microsoft is a well-known tech company in the world. It is the second most valuable company in the world after Apple. The company’s market cap at Tuesday’s closing price is $3.078 trillion.
According to the registration document, Microsoft’s Indian unit Microsoft Corporation (India) Private Limited has bought 66,414.5 square meters or 16.4 acres of land in Hinjewadi, Pune. This deal was done in August. The company bought this land from Indo Global Infotech City LLP. Stamp duty of Rs 31.18 crore and registration fee of Rs 30,000 was paid on this deal. In the year 2022, the company bought a 25-acre plot in Pimpri-Chinchwad for Rs 328 crore. This year it paid Rs 267 crore for 48 acres of land in Hyderabad.
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What is the company’s plan
Microsoft is expanding its business in India, especially its data center operations, and buying land is part of its plan. The company has already built data centers in Pune, Mumbai and Chennai. Currently, the company has more than 23,000 employees in India. The company has offices in Bangalore, Chennai, Hyderabad, Mumbai and Pune. Earlier this year, the company started a major skilling initiative in India. Under this, there is a plan to train 20 lakh people in AI and digital skills by 2025.