EMC Software renews leases for 6 of its offices in Bengaluru

22 Oct 2021 CW Team

The firm has renewed these contracts for offices across three commercial buildings in the SEZ—WTC Moonstone, WTC Emerald and WTC Aquamarine—for five years at monthly lease rentals varying from Rs 54 to Rs 81 per sq ft, taking the yearly rental payout to approximately Rs 60 crore.

The firm has paid security deposits worth 8-10 months’ rentals and the agreement renders for rental growth of 12-18% after the first three years, showing documents obtained through real estate analytics company Propstack.

Of the six leases, EMC has renewed two deals worth more than 466,000 sq ft in WTC Moonstone at a monthly rent of Rs 54 per sq ft and over 102,000 sq ft in WTC Aquamarine at a rental of Rs 68 per sq ft a month.

It has renewed three leases of 256,000 sq ft in WTC Emerald at a monthly rental of Rs 54-81 per sq ft.

Bagmane World Technology Center, with approximately 5 million sq ft development spread across 28 acres, includes Boeing, Accenture, Dell, Nvidia, Visa, EY and Ericsson among its occupiers apart from EMC.

The project has been collectively made by Bagmane Group and MTB Estates and Properties.

Occupiers and tenants of large office complexes across the nation covering big corporations are renewing their lease agreements, citing their preference despite the much-discussed emergence of the work-from-home alternative following the Covid-19 pandemic.

Approximately 21 million sq ft of office space has been renewed since April 2020 and renewals are helping the increase in leasing numbers.

While the second wave of the pandemic temporarily slowed down the exuberance in office property market recovery in the June quarter, the accelerating speed of vaccinations and wider rollout by corporates have inculcated confidence, supporting the market bounce back swiftly in the September quarter.

At the city level, as per the Cushman & Wakefield, Bengaluru reported robust traction, with a total leasing activity surging up to 4.8 million sq ft in the September quarter, a fourfold sequential surge, driven by large-scale term renewals.

In Mumbai, the gross leasing volume touched 3.15 million sq ft, with fresh leasing and term renewals estimated for 44% and 56%, respectively, the data revealed. Delhi-NCR followed them with numbers totalling approximately 2.5 million sq ft, a 40% sequential growth.

Image Source

Also read: Byju's takes up 9,500 sq ft office in Mumbai on 5 year lease

EMC Software and Services, an Information technology solutions provider, has renewed leases for six of its offices situated around 825,000 sq ft at IT Special Economic Zone (SEZ) Bagmane World Technology Center in Bengaluru's Outer Ring Road. The firm has renewed these contracts for offices across three commercial buildings in the SEZ—WTC Moonstone, WTC Emerald and WTC Aquamarine—for five years at monthly lease rentals varying from Rs 54 to Rs 81 per sq ft, taking the yearly rental payout to approximately Rs 60 crore. The firm has paid security deposits worth 8-10 months’ rentals and the agreement renders for rental growth of 12-18% after the first three years, showing documents obtained through real estate analytics company Propstack. Of the six leases, EMC has renewed two deals worth more than 466,000 sq ft in WTC Moonstone at a monthly rent of Rs 54 per sq ft and over 102,000 sq ft in WTC Aquamarine at a rental of Rs 68 per sq ft a month. It has renewed three leases of 256,000 sq ft in WTC Emerald at a monthly rental of Rs 54-81 per sq ft. Bagmane World Technology Center, with approximately 5 million sq ft development spread across 28 acres, includes Boeing, Accenture, Dell, Nvidia, Visa, EY and Ericsson among its occupiers apart from EMC. The project has been collectively made by Bagmane Group and MTB Estates and Properties. Occupiers and tenants of large office complexes across the nation covering big corporations are renewing their lease agreements, citing their preference despite the much-discussed emergence of the work-from-home alternative following the Covid-19 pandemic. Approximately 21 million sq ft of office space has been renewed since April 2020 and renewals are helping the increase in leasing numbers. While the second wave of the pandemic temporarily slowed down the exuberance in office property market recovery in the June quarter, the accelerating speed of vaccinations and wider rollout by corporates have inculcated confidence, supporting the market bounce back swiftly in the September quarter. At the city level, as per the Cushman & Wakefield, Bengaluru reported robust traction, with a total leasing activity surging up to 4.8 million sq ft in the September quarter, a fourfold sequential surge, driven by large-scale term renewals. In Mumbai, the gross leasing volume touched 3.15 million sq ft, with fresh leasing and term renewals estimated for 44% and 56%, respectively, the data revealed. Delhi-NCR followed them with numbers totalling approximately 2.5 million sq ft, a 40% sequential growth. Image SourceAlso read: Byju's takes up 9,500 sq ft office in Mumbai on 5 year lease

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..