Private sector, HDFC Bank plans to start an integrated operations hub in the eastern region of the country. This hub is going to be set up at commercial area called Ecospace at Rajarhaat near Kolkata.

HDFC vice-president and regional head (eastern India) Madhusudan Hegde said, "We are initially taking 30,000 square feet of space in the IT hub of Rajarhat. We are taking a floor at Ecospace."

The bank will take an office at the building for which it has already leased in 30,000 square feet of space and provide employment to nearly 300 people for its operation.

As a part of its further expansion, the bank plans to add two more floors of 30,000 square feet each. This is likely to expand its total investment to Rs180 million and thereby hire 600 more people.

Mr Hedge informed that this will be fourth operation hub of HDFC after Delhi, Mumbai and Chennai.

This facility is going facilitate the centralization of back office operations in one place.

Ecospace has been built by Ambuja Realty whose Chairman Harsh Neotia said that the complex will consist of four buildings spread across 20 acres of land. Until now only 25% of the space has been sold.

The Chairman informed that the first building will ready for ownership by March 2009 where as the second one will be up by June and the other two would be completed in 2010.

The project has an estimated cost of around Rs 290 crore.