IT services company Wipro on September 25, 2023, announced the sale of a 14.02-acre land parcel and a 20-year-old building in Chennai. Measuring approximately 589,778 square foot (sqft), this building is located at Chennai’s Sholinganallur IT corridor. Both the building and the land parcel have been sold to Casagrand Bizpark for a consideration of Rs 266.38 crore.
The building is situated at No 475-A, Wipro Street, Sholinganallur, Chennai. The buyer Casagrand Bizpark does not belong to the promoter/promoter group/group companies and the transaction is not categorised as a related party transaction, said Wipro in a regulatory filing. It also added that a sale deed to the effect has been executed on September 25.
Earlier in July, Wipro had announced a profit of Rs 2870.10 crore for Q1 FY24, up 12% in comparison to Rs 2563.60 crore during the Q1 FY23. It had clocked a revenue of Rs 22,831 crore, up 6.1% as against Rs 21,528.60 crore in Q1 FY23. Wipro’s total bookings for the quarter came in at $3.7 billion. Its large deal bookings was at $1.2 billion, up 9% YoY, which is the highest in the last eight quarters. Going forward, Wipro had said that the company expects revenue from its IT services business to be in the range of $ 2,722 million to $2,805 million.
