TCS Acquires Darshita Southern India Happy Homes for ₹2,250 Crore
The ₹2,250 crore deal will enable TCS to establish a new delivery center in Bengaluru, expanding its presence in the region and supporting its growth plans, with the acquired land and building set to be converted into a state-of-the-art facility.
Tata Consultancy Services (TCS) has acquired 100% equity shares of Darshita Southern India Happy Homes Private Limited, a commercial real estate entity, for ₹2,250 crore, aiming to establish a new delivery center in Bengaluru. The acquisition involves a cash transaction with a two-year call option, allowing TCS to complete the acquisition after two years.
The acquired entity, incorporated in 2004, is engaged in commercial real estate development but has not reported revenue in the past three years. The deal will enable TCS to secure land and a commercial building, which will be converted into a delivery center, expanding the company's presence in the region. This strategic move comes as TCS reported a 0.4% decline in revenue for the third quarter, with ₹63,973 crore in revenue.
The acquisition is expected to support TCS's growth plans, providing the company with a new delivery center in Bengaluru. The deal's structure, with a two-year call option, allows TCS to navigate the acquisition process while managing its financial commitments. Shares of TCS ended at ₹3,574.90, down 0.37%, following the announcement.
The acquisition of Darshita Southern India Happy Homes by TCS marks a significant development in the company's expansion plans, highlighting its focus on strategic investments to drive growth and enhance its capabilities. As TCS continues to navigate the evolving IT services landscape, this acquisition is expected to play a key role in supporting its long-term objectives.
