Wipro’s Real Estate Transformation
As part of its plan to sell off non-core real estate holdings and simplify operations, Wipro is now selling two office buildings in Hyderabad and Bengaluru. According to people familiar with the company’s property disposal plans, the properties include parts of its campuses in Electronic City, Bengaluru, and Gachibowli, Hyderabad.
Property Disposal in Hyderabad and Bengaluru
Wipro sold non-core assets for hybrid work consolidation. IT company may sell the Gachibowli property and Electronic City complex.
According to a source, Wipro is planning to concentrate its operations in Bangalore and is now considering selling all 25 acres at once. They could decide to start with a five-acre Bangalore monetization.”
Wipro’s Growing Presence in Bengaluru and Hyderabad
A Wipro representative responded by saying, “Wipro does not comment on rumors and speculation.”
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Three locations in Bengaluru are now under Wipro’s management, including a 25-acre site in Electronic City. The firm has three campuses in Manikanda and the financial area of Hyderabad. The government granted the corporation ownership of specified properties over 20 years ago, according to another source.
Wipro, India’s fourth-largest IT company, now requires employees to work in the office three days a week under a mandatory hybrid work policy. The business informed its staff that this policy will go into effect on November 15. Wipro had 244,707 employees as of the September quarter, and its attrition rate was 15.5%.
Indian real estate is evolving with the hybrid work model emphasizing space for collaboration. Furthermore, some IT firms recently said that they would no longer be employing.
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Frequently Asked Questions
Ans: Wipro is selling these properties as part of its plan to simplify operations and focus on core activities. The decision is also aligned with the company’s adoption of a hybrid work model, prompting a reevaluation of its real estate portfolio.
Ans: Wipro aims to concentrate operations in Bangalore, contemplating the sale of properties in Gachibowli and Electronic City.
Ans: Wipro now mandates a hybrid work policy, requiring employees to work three days in the office, reflecting industry trends.
