August 22, 2014 12:46 PM ET

IT Services

Company Overview of Virtusa (India) Private Limited

Company Overview

Virtusa (India) Private Limited provides IT consulting and outsourcing services. The company was incorporated in 1999 and is based in Hyderabad, India.Virtusa (India) Private Limited operates as a subsidiary of Virtusa Corp.

"The Lords”, Plot No. 1 & 2, Northern Extension Area

Thiru-Vi-Ka Industrial Estate

Guindy

Chennai,  600032

India

Founded in 1999

Phone:

91 44 4200 2700

Fax:

91 44 4200 2800

Key Executives for Virtusa (India) Private Limited

Vice-President and India Centre Head
Compensation as of Fiscal Year 2014.

Virtusa (India) Private Limited Key Developments

Virtusa (India) Private Limited Enters into Lease Agreement with DLF Assets Private Limited

On September 29, 2012, Virtusa (India) Private Limited entered into a lease agreement with DLF Assets Private Limited, for the lease of approximately 29,218 square feet, commencing July 1, 2012, and for an additional 44,432 square feet commencing October 1, 2012 in Chennai, India, each for a term of five years from their applicable lease commencement date; provided that Virtusa India may terminate each Phase of the Lease at any time after 30 months of commencement of the Lease for such Phase on six months prior written notice. Under the terms of the Lease, Virtusa India also has the right to renew each Phase for an additional term of five years. The initial annual base rent for the Lease is approximately $713,000 and increases 15% over the last paid rent at the end of thirty-six months to approximately $820,000. If the Lease is renewed beyond the initial five year term, the annual base rent under the Lease increases by an additional 15% over the last paid rent at the end of seventy-two months to $942,000, and an additional 15% over the last paid rent at the end of one hundred and eight months to an annual base rent of approximately $1,084,000 in year 10. In connection with the Lease, Virtusa India has paid an aggregate security deposit of approximately $484,000 to DLF, which will increase on the same percentages as the increase in the annual rents under the Lease.

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