Bajaj Electricals leases 61k+ sq ft in Mumbai
Real Estate

Bajaj Electricals leases 61k+ sq ft in Mumbai

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.

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.

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?