Indian Multinational IT Company Mindtree, Has Preleased 6 Lakh Square Feet Office space at L&T Future IT Park in Chennai

Mindtree, an information technology services firm, has pre-leased 600,000 square feet of office space at parent company Larsen & Toubro's future IT park in Chennai.

The over-ten-year leasing agreement is for L&T Innovation Campus, a 40-acre mixed-use development, according to two individuals familiar with the matter.

"In the first quarter of 2021, the agreement was inked. The facility is expected to be completed and functioning by the end of 2022, with a capacity of over 5,000 people," one of them said.

When finished, the 5.5 million-square-foot Innovation Campus would be one of Chennai's largest information technology parks. It is being built at Manapakkam's IT cluster on Mount Poonamallee Road. Previously, the property housed a manufacturing plant for L&T Valves.

"L&T's Chennai project has gotten positive feedback from a variety of IT organisations in India, the United States, and Europe," one of the individuals listed above said. "We are pursuing certain pre-commitments and are making progress."

Mindtree Ltd is a Bangalore-based global information technology services and consulting firm. It is a subsidiary of Larsen & Toubro. The firm was founded in 1999 and now employs over 23,000 people with an annual revenue of Rs. 7839.9 crore (USD1.1 billion)