India, March 11 -- IT major Tata Consultancy Services said on March 11 that it has signed an agreement to acquire a100% equity stake in a Bengaluru-based commercial real estate firm Darshita Southern India Happy Homes Pvt Ltd for Rs.2250 crore in an all-cash deal.

The deal involves the acquisition of land and building held by Darshita Southern India Happy Homes to serve as a delivery centre for TCS, according to the regulatory filing.

The filing said there will be a call option to acquire 100 per cent equity shares in the entity after two years.

Incorporated in September 2004, the entity is engaged in development of a commercial property which would be let on lease to prospective industrial consumers. Since the property is still under ...