Vizag, also known as Visakhapatnam, is a well-known hub for businesses from all industries. The city’s coastal location in Andhra Pradesh and skilled workforce drive more and more companies toward it. The presence of industries and businesses in Vizag has led to increased demand for commercial and residential properties. This demand has driven real estate development, including office spaces, apartments and housing complexes, to accommodate the growing workforce. Here’s a list of companies that shape the city’s economy and are the backbone of its real estate market.
Business landscape in Vizag
The business landscape in Vizag, or Visakhapatnam, is evolving and expanding. It has a diverse mix of industries such as manufacturing, IT, pharmaceuticals and port-related activities. The city’s strategic coastal location has made it a key player in trade and logistics.
The presence of educational institutions and skilled labour contributes to its appeal as a business hub.
List of top companies in Vizag
Deloitte
Industry: Accounting, Taxation
Company Type: MNC
Location: Waltair Main Road. Visakhapatnam 530002
Founded in: 1989
Deloitte, officially recognised as Deloitte Touche Tohmatsu, is a privately held UK company offering auditing, consulting, and financial advisory services. Established in 1989, it ranks among the largest firms in the fields of taxation, auditing, and consultancy. With a presence in 150 countries and a workforce of about 415,000 professionals, Deloitte stands as one of the Fortune Global 500 companies.
Tech Mahindra
Industry: Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: India’s Top 500
Location: Resapuvanipalem, Visakhapatnam -530013.
Founded in: 1986
Tech Mahindra is an Indian multinational company specialising in information technology, networking technology solutions, and business support services for the telecommunications industry. It’s part of the Mahindra Group and was formerly known as Mahindra British Telecom. Tech Mahindra is known for its expertise, holding SEI CMMi Level 5 certification, and having a large professional workforce in both software and business process outsourcing.
Jio
Industry: Telecommunication, Mobile
Company Type: India’s 501-1000
Location: Dondaparthy, Visakhapatnam 530016,
Founded in: 2007
Jio, officially known as Reliance Jio Infocom, is a major player in the network and telecommunications industry in India. It operates a nationwide 4G LTE network, covering all 22 telecom circles in the country. Jio Soft, its subsidiary, was launched in 2016 and quickly became one of India’s largest telecom operators, with over 426.2 million customers. The company’s journey began in 2007 when it was registered as IBSL (Infotel Broadband Services Limited) and later acquired by Reliance Industries in 2010.
Bharti Airtel
Industry: Telecommunication, Mobile
Company Type: India’s Top 500
Location: M.v.p. colony Visakhapatnam, Andhra Pradesh, 530017
Founded in: 1995
Bharti Airtel is a telecommunications company based in New Delhi, India. Founded by Sunil Bharti Mittal in 1995. It operates various segments, including mobile services in India and south Asia, mobile services in Africa, Telemedia services, digital TV services, Airtel business, tower infrastructure services, and others. The company provides voice and data telecom services across wireless and fixed networks, digital broadcasting services, and end-to-end telecom solutions for large corporations.
IBM
Industry: Consulting, Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: MNC
Location: Ram Nagar, Visakhapatnam -530002.
Founded in: 1911
IBM, short for International Business Machines, is a well-established multinational tech corporation with roots dating back to its founding in 1911. IBM specialises in computer hardware, middleware, and software, gaining recognition for its mainframe computers widely utilised by large corporations and government entities. The company also provides IT services and consultancy to assist businesses in streamlining operations and embracing cutting-edge technologies.
Cognizant Technology Solutions
Industry: Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: MNC
Location: Beach Road, Visakhapatnam, 530002
Founded in: 1994
Cognizant Technology Solutions, founded in 1994 by Kumar Mahadeva and Francisco D’Souza, is an American multinational company specialising in IT services, consulting, and business process outsourcing. Cognizant first made its mark during the dot com boom and has since diversified its offerings to include application development, intricate systems integration, and consultancy services.
Concentrix
Industry: ITES – BPO, KPO, LPO, MT
Company Type: MNC
Location: Cbm Compound, Visakhapatnam – 530003
Founded in: 1983
Established in 1983, Concentrix is a global leader in customer experience solutions and technology. It operates in 40 countries and six continents, serving various industries, including technology, retail, banking, healthcare, and more. It is known for designing brand-defining experiences, building smart solutions, and efficiently managing CX services.
Wipro
Industry: Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: India’s Top 500
Location: Resapuvanipalem, Visakhapatnam, Andhra Pradesh 530013
Founded in: 1945
Wipro is an Indian multinational company founded in 1945 by Mohamad Premji. Wipro offers IT consulting, custom application development, BPO services, cloud, mobility, analytics, and hardware/software design. The company serves clients across six continents with a workforce of 180,000 employees. Wipro Enterprises, founded in 2013, has two main divisions: Wipro Consumer Care and Lighting (WCCLG) and Wipro Infrastructure Engineering (WIN).
Hindustan Petroleum Corporation (HPCL)
Industry: Gas and Oil Industry
Company Type: Public Sector Undertaking and a Forbes 2000 Company
Location: China Waltair Road, Siripuram. Visakhapatnam 530003
Founded in: 1974
HPCL owns and operates Refineries in Mumbai and Visakhapatnam with a capacity of 9.5 Million Metric Tonnes Per Annum (MMTPA) and 8.3 MMTPA, respectively. HPCL also owns India’s largest Lube Refinery in Mumbai, producing lube oil base stocks with a capacity of 428 Thousand Metric Tonnes Per Annum (TMTPA). Both Mumbai and Visakh Refineries have been upgraded to produce BS-VI compliant transportation fuels.
Mahindra Satyam
Industry: Information, Communications and Technology Industry
Company Type: Public Company
Location: Dwarka Nagar, Visakhapatnam 530016
Founded in: 1987
As a leading global information, communications and technology (ICT) company, Mahindra Satyam is a part of the $15.9 billion Mahindra Group, a global industrial federation of companies and one of the top 10 business houses based in India. Mahindra Satyam was formerly known as Satyam Computer Services. On April 13, 2009, the company was taken over by the Mahindra Group’s IT arm Tech Mahindra. Subsequently, the company unveiled its new brand identity Mahindra Satyam in June 2009.
BHEL-Heavy Plates & Vessels Plant
Industry: Oil and Gas Industry
Company Type: Union Government Company
Location: Auto Nagar, Visakhapatnam 530012
Founding Year: 1966
HPVP (Heavy Plates and Vessels Plant) is the 17th manufacturing unit of BHEL (Bharat Heavy Electricals Limited). BHEL is under the Department of Heavy Industry, Government of India. It has been catering to the specialised equipment & plants required for oil refineries, fertiliser plants, steel plants, defence sector, etc.
Commercial real estate demand in Vizag
Office space: Vizag has seen an increased demand for office spaces, particularly in areas like the IT SEZ (Special Economic Zone). Companies are setting up offices, driving the need for quality workspaces.
Rental properties: The demand for rental properties, both residential and commercial, has surged. As more professionals move to the city for work, there is a need for affordable and convenient rental accommodations.
This growing demand for commercial real estate has positively impacted the city’s economy. It has led to increased construction activities, job opportunities in real estate, and economic growth due to investments in the property sector.
Impact of these companies in Vizag
Companies in Vizag have significantly impacted the city by driving economic growth, providing employment opportunities, and contributing to infrastructure development. Their presence has not only boosted the local economy but also enhanced the skillset of the workforce, making Vizag a more vibrant and prosperous city.
FAQs
Which companies are there in Vizag?
There are several companies in Vizag, some of which are: Jio Bharti Airtel IBM Deloitte
Is Vizag a good place to work?
Due to the fast growth rate and a vast industrial presence, Vizag is absolutely a great place to work.
Which is the richest place in Andhra Pradesh?
Visakhapatnam district is the richest district in Andhra Pradesh, with a high per capita income.
Is Vizag a developed city?
Yes, it is one of the four most developed cities in Andhra Pradesh.
Is Vizag a Tier 3 city?
No, Vizag is a Tier-II city with an emerging real estate market.
Is Vizag and Visakhapatnam the same?
Yes, Visakhapatnam is commonly known as Vizag; it is one of the oldest port cities in the country.
What is the future of real estate in Vizag?
The future of real estate in Vizag looks promising, with the potential for rising land prices due to ongoing development, VUDA initiatives, and its proximity to suburban areas.
What is the population growth rate of Vizag?
Visakhapatnam's metro area population has been steadily increasing. In 2023, it reached 2,331,000, reflecting a 2.33% rise from 2022.
Which is the richest area in Vizag?
Some of the posh areas of Vizag include MVP Colony, Seethammadhara, Yendada, Gajuwaka, Sujatha Nagar and more.
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