Indian IT services company Tata Consultancy Services (NSE:TCS, BOM:532540) has agreed to acquire a 100% stake in commercial real estate developer Darshita Southern India Happy Homes for 22.5 billion Indian rupees, according to a Tuesday filing to the Indian bourses.
The transaction is expected to be completed in two years.
The acquisition is aimed at acquiring land and building which Darshita Southern holds to serve as a delivery center.
Shares of the company were down over 2% in recent trade.
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