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
Infrastructure Transport

CPCL crosses $10 million revenue milestone

Chaitanya Projects Consultancy (CPCL), a leading infrastructure and engineering consultancy, has surpassed $10 million in annual revenue for FY 2024–25, marking a five-year compound annual growth rate of 28.2 per cent—well above the industry average. Established in 2004, CPCL has delivered over 300 projects across highways, bridges, urban infrastructure, water, transport, and environmental sectors. Its achievements include over 600 km of six-lane highways, 2,000 km of national highways, and 100 major bridges. “Our goal has always been to improve India’s infrastructure,” sai..

Next Story
Resources

KPIL secures new orders worth Rs 37.89 billion

Kalpataru Projects International Ltd (KPIL), a major EPC player in power transmission and civil infrastructure, has secured new orders worth approximately Rs 37.89 billion along with its international subsidiaries. The orders include a significant contract in the Buildings and Factories (B&F) segment in India, marking KPIL’s largest B&F order to date. The project involves the development of over 12 million sq ft of residential space with supporting infrastructure, awarded on a design-build basis. Additionally, the company has won new transmission and distribution (T&D) order..

Next Story
Real Estate

Apartment loading rises to 40 per cent in top cities

Driven by rising demand for premium amenities, the average apartment loading across India’s top seven cities has reached 40 per cent in Q1 2025, up from 31 per cent in 2019, according to ANAROCK Research. The loading factor, or the area paid for beyond the usable carpet area, covers common spaces such as lobbies, staircases, and clubhouses. Mumbai Metropolitan Region (MMR) continues to lead with the highest loading at 43 per cent. Bengaluru saw the sharpest jump, from 30 per cent in 2019 to 41 per cent in Q1 2025. Chennai recorded the lowest average loading at 36 per cent. “Sixty..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?