Persistent Systems buys office building in Pune for Rs.117-Cr

Information technology services company Persistent Systems has acquired an entire office building B9 The Lofts in integrated township Blue Ridge in Pune's IT hub Hinjewadi from Paranjape Schemes Construction for over INR 117 crore. Persistent has also bought a land parcel adjacent to the building and an under-construction floor and basement of this existing building with nearly 2 lakh sq ft ready office space. Of the total amount, Persistent paid INR 108.75 crore for ready structure including upper basement, ground plus three floors. It has paid INR 8 crore and 12% goods and services tax (GST) for the under-construction part including a lower basement and the fourth floor.