HDFC is planning to set up a back office operations hub in the east Indian satellite township of Rajrahat at an initial cost of Rs 6 crore says a report in the Economic Times.

"We are initially taking 30,000 square feet of space in the IT hub of Rajarhat. We are taking a floor at Ecospace," the paper quoted HDFC vice-president and regional head (eastern India) Madhusudan Hegde. This would be HDFC's fourth operations hub after Delhi, Mumbai and Chennai.

The company initially plans to hire 300 people and will expand the hub by adding two more floors of 30,000 sq ft each, at a total investment of Rs.180 million with 900 people.

Ecospace promoter Ambuja Realty chairman Harsh Neotia told reporters that the complex would have four buildings spread of 20 acres with all modern infrastructure. The total project cost is Rs 2.90 billion, and the size - one million sq ft.