Bangalore, Karnataka India (PressExposure) July 24, 2008 -- Lodha Group, a leading Mumbai based real estate player announced today that it has awarded a long term IT transformation contract to Wipro Infotech, the India and Middle East IT Business of Wipro Ltd and a leading provider of IT and business transformation services. The ten year long contract is valued at Rs 132 Crores.
Lodha Group, a leading real estate developer with a land bank of over 6000 acres, is currently developing multiple projects in and around Mumbai and fast establishing its footprint in other southern and western markets. With its focus on development of offices, campuses, SEZâs and townships the Group has embarked on an aggressive growth path to further consolidate its premier position in the dynamic real estate market. The company intends to leverage IT to keep pace with the growth and emerge as a highly customer centric organization.
To realize this vision, Wipro will bring in world class efficiency and best practices to Lodhaâs IT functions. The services will ensure flexibility to respond faster to business scenario changes making IT a true business enabler for the Group.
Announcing this deal, Mr. Abhisheck Lodha, Director, Lodha Group said, âWe are happy to announce that Wipro Infotech which is the countryâs foremost IT service provider has been finalized as our preferred technology partner. We have been on an aggressive growth path and we are excited about this partnership which will transform all our technology systems and processes to keep pace with our growth. Wiproâs unwavering commitment has been a major criterion for us to have partnered with them. This significant partnership will strengthen our approach of being a more customer focused organizationâ.
Commenting on the same Mr. Anand Sankaran, Chief Executive, Wipro Infotech said, âTo keep pace with the remarkable growth that the real estate sector in India is seeing, an organization needs to be agile and innovative and IT has been proven to be a key enabler in achieving this. We are very pleased to partner with the Lodha Group. With our commitment to deliver value at every point in the ten year deal cycle, we at Wipro are confident that this partnership will benefit Lodha Group immensely and help the company achieve a formidable leadership position.â
About Lodha Group
Established in 1980, Lodha Group is a premier real estate developer headquartered in Mumbai. The Group is currently developing in excess of 25 mn sq ft of prime real estate over 27 projects in and around Mumbai. In a recent landmark development, Deutsche Bank invested US$ 425 mn in Lodha Groupâs Special Purpose Vehicle (SPV), marking the single largest FDI in the real estate sector in India. The group is now expanding into Western and Southern India and recently kicked off their geographic expansion by winning 13 acres of premium property in Central Hyderabad.
The Group focuses on development of residences, office spaces, IT campuses, weekend retreats, in various formats including standalone projects, townships and SEZs. From luxury garden residences in South Mumbai to large integrated townships in the suburbs, the Group caters to diverse consumer needs across all segments. The Group currently employs over 1100 professionals and looks at increasing the strength to 5000 in the next 5 years. For more information, please visit our websites at http://www.lodhagroup.com
About Wipro Infotech
Wipro Infotech, a division of the US$4.9 billion Wipro Limited, provides enterprise customers with high value Information Technology Products, Services, Solutions and Consulting Services in India, and provides Technology & Software Services and Consulting Services in the Middle East and ASEAN. It is the worldâs first Products, Services and Solutions Company to be certified, Enterprise wide at Level 5, Version 2.0 of PCMM. Headquartered at Bangalore, Wipro Infotech serves customers in India through a network of 22 offices and 170 service locations across the country. It also has business offices in the Middle East.