HITEC City was commissioned by Larsen and Toubro Limited through its Special Purpose Vehicle, L&T Hitech City Limited, a joint venture company of L&T Infocity Limited and erstwhile Andhra Pradesh Industrial Infrastructure Corporation.
The project is spread over 300 acres (120 ha) of land and was envisaged to develop 11,000,000 sq ft (1,000,000 m2). of IT space and 4,500,000 sq ft (420,000 m2). of residential space in a phased manner. The Project offers multitenanted as well as Built-to-suit (BTS) facilities. It caters to all segments of the IT Industry including small & medium enterprises, with office areas starting from as small as 2,500 sq ft (230 m2).
The project was initiated by APIIC with participation of private infrastructure companies like L&T, Raheja corporation, Ascendas IT Park, Vanenburg Corporation, Peepul Capital (successor to iLabs Venture Capital Fund), SP, RMZ corporation, Divyasree infrastructure, Lancohills technology park, DLF, Emaar MGF and others. The area comprises IT parks such as L&T Infocity, Hitech City2 SEZ, Vanenburg IT Park or The V, Mindspace Cyberabad SEZ, DLF IT SEZ, Tech Mahindra IT SEZ, TCS Synergy park IT SEZ, SEZs of Infosys, Wipro and APIIC, built to suit campuses of several major technology companies.