Happiest Minds buys 2.4 lakh sq ft office space for Rs 101 cr in Bengaluru

IT company Happiest Minds Technologies has purchased a fully built-up ready-to-use commercial property spread over 2.4 lakh square feet in Bengaluru for Rs 101 crore, the company said on Friday.

The facility with a seating capacity of 1,600 seats is in the technology hub of Electronic City.

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