Eaton Signs Rs 165 Million-a-Month Baner Office Lease

13 Aug 2025 CW Team

Eaton Technologies, the Indian arm of global intelligent power management firm Eaton Corporation, has signed a 10-year lease for 150,000 sq ft of office space in an IT park in Pune’s Baner area, at a starting monthly rent of Rs 165 million.

The agreement, finalised on 3 August 2025, includes 150 four-wheeler and 150 two-wheeler parking slots. The rent, set at Rs 110 per sq ft, will increase annually by 4.5 per cent. Eaton will pay a security deposit of Rs 990 million to lessor Astrope Properties Pvt Ltd. The deal also has a five-year lock-in period and a full-term fit-out lock-in, with fit-out rent fixed at Rs 2,400 per sq ft per month and common area maintenance (CAM) charges at Rs 14.75 per sq ft.

The lease begins on 15 July 2025, with phased rent commencement — Phase 1: 120 days after lease start, Phase 2: 1 December 2025, and Phase 3: 15 January 2026. Eaton also holds an option to lease an additional 47,000 sq ft in Unit 801. The total rental outflow over the lease term is estimated at over Rs 2.5 billion.

Eaton plans to establish its Global Capability Centre (GCC) at the site. The deal ranks among Pune’s largest IT park leasing transactions in 2025, reflecting strong demand for Grade A office space in Baner’s micro-market.

According to Vestian Research, more than 53 per cent of Global Capability Centres operate from India, which hosts over 1,700 of the estimated 3,200 such centres worldwide.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..