TCS To Acquire Darshita Southern India Happy Homes For Rs 2,250 Crore

IT major Tata Consultancy Services (TCS) will be acquiring commercial property developer Darshita Southern India Happy Homes Private Limited for Rs 2,250 crore, according to an exchange filing. 

With this deal, the company will acquire land and a building that is held by the entity to serve as a delivery centre. With a call option, TCS will acquire 100% equity shares in the entity after two years. In an all-cash deal, TCS will acquire 100% equity shares in the entity. 

Darshita Southern India Happy Homes, incorporated in September 2004, is engaged in the development of a commercial property that would be let on lease to prospective industrial consumers. “Since the property is still under development, revenue generation is yet to commence; hence, the last 3 years turnover is nil,” TCS said in an exchange filing. 

TCS’ last acquisition was in 2020, when it acquired the staff and select assets of Pramerica Systems Ireland Ltd. (Pramerica), Prudential Financial, Inc. (PFI) subsidiary based in Letterkenny, Ireland. This deal saw over 1,500 of Pramerica’s staff in Ireland transfer to TCS.  Prior to this, TCS had acquired 100% of the shares of Postbank Systems AG (PBS) from Deutsche Bank in November 2020. 

In the previous quarter ended Dec 2024, TCS’ net profit rose 4.1% sequentially to Rs 12,444 crore. The IT major's revenue from operations declined 0.4% over the previous three months to Rs 63,973 crore in the third quarter. Employee headcount decreased by 5,370 employees in the third quarter, bringing the total to 6,07,354. The attrition rate in the quarter inched up to 13% from 12.3% in the last quarter.