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Positive outlook for job seekers: Facebook, Amazon, Xerox lease space in Bangalore, Hyderabad

July 27
, 2012, Bangalore

Some of the world's biggest technology companies have booked acres of office space in Bangalore and Hyderabad, real estate agents said, indicating that investments are proceeding apace in thesoftware sector despite a generally gloomy mood for businesses.
Facebook, Amazon, Xerox and chipmaker AMD are among the companies that have leased office space in India's technology capital Bangalore, or in Hyderabad, which is home to companies such as Google and Microsoft.

Including tax preparation software maker Intuit, these five companies have in recent weeks leased more than 6 lakh sq ft, a precursor to hiring thousands of professionals.

The general rule of thumb is to provide 75-80 sq ft of usable space for every employee. By this estimate, Facebook's Hyderabad office can accommodate approximately 500 staff and Amazon about 5,000.

Analysts said the plans are a testament to India's continued attractiveness as a source of technology talent for top international corporations, which have made a long-term commitment to India.

"For companies that believe in the long-term story of India, this is probably a very good time as you can get real estate and talent at relatively lower cost," said Sunil Chandiramani, national director for advisory services at audit and consultancy Ernst & Young. "The fact remains that India represents a large consumer base. Growth may be muted now, but it is still a growth story."
  Courtesy: Economic Times
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