IT Companies witnessed Downfall in HYD: From 921 to 628 in 3 years!

Although the previous UPA government announce the IT Investment Region in Hyderabad just before bifurcating the state, it seems the ITIR is not going to take off any sooner. This is because the IT industry in Hyderabad is on a downhill, as the number of IT companies has fallen. As of now, an office space of 10 lakh SFT is falling vacant in Hyderabad. The space under construction is another 40 lakh SFT. That means, a total of 50 lakh SFT will be available, and this translates into 50,000 employees, at the rate of 100 SFT per employee. As IT majors have requested for their own campuses, they will not take private space. As per a survey, Hyderabad had 921 IT companies in 2011-12; 750 IT companies in 2012-13 and the number came down to 628 in 2013-14. So, the TS government's drive to speed up ITIR may not give fast results.