Bajaj Electricals leases 61k+ sq ft in Mumbai

05 Jun 2023 CW Team

Bajaj Electricals, a consumer appliances company, has secured an entire floor of office space spanning 61,000 sq ft in Mumbai's business district of Lower Parel. The office space is located in the commercial complex called One International Center, owned by Nucleus Office Parks, a Blackstone Group entity. The lease agreement is for a period of almost five years, and Bajaj Electricals will pay a total rent of approximately Rs 70 crore during this period. The rent will increase by 4.5% after every 12 months. The agreement also grants Bajaj Electricals the option to extend the lease for up to 15 years at market rates.

The deal was finalised and registered earlier in the week. Bajaj Electricals is expected to commence the fit out work soon and is likely to relocate to the new office by September or October. The company's senior management will operate from this new office. Furthermore, Bajaj Electricals is currently in discussions with Nucleus Office Parks to acquire additional office space.

The office space secured by Bajaj Electricals is located in T4, a newly constructed tower with 22 floors and a total area of 700,000 square feet. One International Center already houses the headquarters of prominent global and Indian organisations, including Deloitte, which occupies approximately 230,000 sq ft, Mondelez with nearly 70,000 sq ft, and Franklin Templeton with 40,000 sq ft of office space.

Bajaj Electricals recently announced its highest-ever net profit of Rs 2.16 billion for the fiscal year 2022-23, representing a 74% increase, supported by a nearly 13% rise in revenue amounting to Rs 54.29 billion.

Nucleus Office Parks, the operating platform for fully-owned office properties by the Blackstone Group in India, manages the largest commercial real estate portfolio in the Lower Parel business district, encompassing around 4.4 million sq ft.

Infrastructure Urban

09 Mar 2026

Hong Kong Mission Explores UAE and Egypt Textile Opportunities

Hong Kong is strengthening its role as a global sourcing and supply chain hub for the garment and textile sector, offering international businesses access to advanced logistics, sourcing networks and design expertise. With nearly a century of industry experience, Hong Kong companies are recognised for their Original Design Manufacturing (ODM) and Original Equipment Manufacturing (OEM) capabilities, supporting major global brands with high-quality garments and efficient supply chain solutions.In recent decades, the city’s garment industry has evolved beyond manufacturing to focus on higher va..

Flender Inaugurates Wind Gearbox Test Rig In Chennai

Chennai, 6 March 2026: Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the installation of the largest test rig of its kind in India. The facility was inaugurated on 5 March in the presence of Andreas Evertz, CEO, Flender Group; Lars Wiegemann, Vice President – Wind Gears; and Vinod Shetty, CEO, Flender India.The test rig has been developed to support testing and validation of wind turbine gearboxes, strengthening the company’s capabilities in the renewable energy sector. The commissioning was completed within three months thr..

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..