 "City GIFT")
GIFT Representative image of the city
Colliers, a real estate consultancy, has landed a major contract to develop the artificial intelligence (IA) and Technology Extension Center in Ahmedabad for Infibeam Avenues. The Indian multinational fintech giant intends to establish an AI center within GIFT City, Gujarat, with the Ahmedabad campus serving as an extension, which is expected to be operational within 18 months .
Spanning 400,000 square feet, Colliers was awarded the $10 million cost-plus contract to execute this ambitious project.
The AI and technology hub will adopt a “symbiotic framework” aimed at fostering greater synergy within the ecosystem. This will provide technology companies with access to a comprehensive platform conducive to collaboration and innovation.
“Winning the Infibeam project reflects our capabilities and continued efforts to create value for our customers. Our subject matter experts, rich in market knowledge and expertise, never fail to achieve unmatched results and deliver exceptional projects,” said Indranil Basu, Managing Director of the project. management of Colliers India.
He added: “With a focus on technology, innovation and operational excellence, we are committed to creating Grade A spaces suitable for long-term growth. With our proven experience and a team of leading professionals, we are ready to ensure effective project management and deliver an exceptional result.
Payments infrastructure company Infibeam Avenues reported a profit of Rs 41.4 crore in the third quarter of financial year 2024 (Q3 FY24). This is an increase of 15.7 percent from Rs 35.8 crore during the same period last year. On a sequential basis, the company’s profits increased from Rs 40.9 crore in Q2FY24.
In January 2024, the company also announced plans to add AI as a “horizontal vertical business supporting platforms and payments.”
“This is an important milestone for us, and we believe it will completely change the way we do business,” Vishal Mehta, the company’s president and CEO, said in a statement.
First publication: February 13, 2024 | 1:25 p.m. STI
