Happiest Minds acquires commercial property in Bengaluru for Rs 101cr

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Happiest Minds Technologies, an Indian digital transformation and IT services company, said that it has acquired a commercial property in Bengaluru for INR 101 crores.

The Grade A, fully built up ready to use property has a built area of 240,000sft.

The acquired facility of Happiest Minds Technologies has a seating capacity of 1,600 seats, and is located in the technology hub of Electronics City.

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Venkatraman Narayanan — Happiest Minds Technologies MD and CFO said: “Financially, the purchase is funded substantially through borrowings from banks at very favorable terms. The transaction is positive from a P&L perspective while adding a significant asset to our balance sheet.

“We have structured repayments in a manner such that cash flows are neutral in the medium and positive in the long term”

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According to Happiest Minds Technologies, the facility increases its seating capacity in Bengaluru by nearly 30% and aligns with its growth plans and goal of bolstering delivery capabilities in existing and newer locations such as Bhubaneshwar.

Recently, Happiest Minds Technologies forged a partnership with CloudFabrix’s Robotic Data Automation Fabric (RDAF), a transformational low code data intelligence, and automation platform, for providing next generation managed services.

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