IT/ ITES Scenario
The Indian IT & ITES sector continues to show a steady growth rate for
the nth successive year and is expected to exceed USD 36 billion in annual revenue
in FY 2005-06, a growth of nearly 28 percent. The Knowledge and Technology intensive
sectors have created demand for commercial space to go into an overdrive. India's
strong economic performance and its established position as an off-shoring destination
have given real estate environment a new high.
The IT industry is one
of the biggest employment generators in the country, with the landmark figure
of one million manpower crossed in FY05. According to NASSCOM (National Association
of Software and Service Companies), the IT/ ITES sector is anticipated to employ
an additional of 0.8 million professionals by 2008. To accommodate this huge number,
it is estimated that about 60-80 million sq.ft. fully developed space would be
required by this industry over the next 3 years.
Peninsula, after doing
extensive research on the scope & requirements of the IT industry, recognized
the opportunity to present an infrastructure which will deliver the best to suit
the needs of the industry.
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