Hewlett Packard leases 1.8 lakh sq ft office space in Chennai

29 Dec 2021 CW Team

US technology firm Hewlett Packard had rented a 1.8 lakh sq ft office facility in Chennai to consolidate and boost its operation in the city.

HP will utilise the new space to house around 1,800 employees. The office area was coming up Prestige Metropolitan and inked at Rs 75 per sqft. The lease is for 15 years. Prestige Metropolitan is a five lakh sq ft Grade A Premium office development situated on Chennai’s main arterial road, mount road.

The new office for HP will witness it moving away from numerous areas in Chennai and consolidating in Prestige Metropolitan. The office is under fit-outs and will be operating between March and June 2022.

After the outbreak of the Covid-19 pandemic globally, HP has taken significant restructuring initiatives, including streamlining headcounts globally. The technology company presently employs 55,000 employees globally and anticipates restructuring programs to save $1 billion by next year.

In recent times, top Indian cities have seen a substantial increase in large office space deals. Bengaluru, the IT capital of the nation, registered the highest number of office agreements in 2021. Few of the large contracts closed recently in Bangalore alone comprises Cisco 2,700,000 sq ft Prestige Cessna and Byju's leasing 2,93,000 sq ft in PrestigeTech Park. It was followed by Collins Aerospace renting 2,75,000 sq ft in Northgate SEZ in the city.

The Indian office market is likely to observe a rebound driven development in the information technology, IT-enabled services sector record hiring and aggressive vaccination rates in the nation. By the end of the third quarter, the IT sector had rented 8 million sq ft.

Image Source

Also read: DLF to kick off construction of 2 million sq ft office space in Gurugram

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..