Sagarsoft (India) Limited has submitted a regulatory filing to BSE Limited intimating a decision to consolidate its physical operations.
The disclosure refers to a previous communication dated 2nd August 2017, in which the company had informed the Exchange about its Board's approval for setting up an additional Software Development Centre. This centre was located at leased premises on the 2nd Floor, Plot No.111, Road No.10, Jubilee Hills, Hyderabad - 500033.
The company states that a significant shift in its operating model to a majority hybrid workforce has rendered the additional leased space unnecessary. The existing office space on the 1st Floor of the same building (Plot No.111, Road No.10, Jubilee Hills, Hyderabad - 500033) is now deemed adequate to meet current operational requirements.
Consequently, the Board of Directors of the Company has approved the proposal to vacate the specific leased premises on the 2nd Floor. The filing is submitted for the Exchange's information and records.