Sujit Baksi in Calcutta on Monday. A Telegraph picture

Calcutta, July 31: Tech Mahindra Limited (TML) will invest Rs 650 to Rs 700 crore to set up campuses across the country over the next three years.

For this, the company would either be a part of existing special economic zone (SEZ) projects or apply for SEZ status.

“Part of our initial public offering (IPO) proceeds will go towards the Pune campus being set up on the Mumbai-Pune expressway for which we have already been allocated land. The facility would spread over 23 acres and would be able to accommodate up to 9,000 people,” said Sujit Baksi, president, corporate affairs, TML.

The Pune facility, which will be partially residential, will cost around Rs 350 crore, of which Rs 115 crore will come from the IPO proceeds. The land has been given by Maharashtra Industrial Development Corporation at Hinjawadi, Pune.

The company has already taken up a 10-acre plot in Chandigarh, which would be used primarily for training purpose.

The 15-acre land in Hyderabad would also be used to set up a centre.

The company has acquired a 12-acre plot to set up a development centre and integrated campus in Calcutta and plans to employ 2,000 people in the first phase within the next 18 months.

“We would also set up a residential complex on the adjacent 2-acre plot. The campus ? Tech Mahindra Technology Centre East ? at the Bantala SEZ would house all the amenities required for around 5,000 software engineers with a ‘walk to work’ concept,” said Vineet Nayyar, vice-chairman and MD, TML.

The Calcutta campus would be a centre of excellence for Tech Mahindra’s LHS billing solutions.

In December 2005, the firm had set up a 32,000-sq-ft facility, which has 325 employees.