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

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..