LinkedIn renews Mumbai office lease

28 Sep 2023 CW Team

LinkedIn has extended its lease for approximately 18,000 sq ft of office space in Maker Maxity, a commercial project situated in Mumbai's business hub, the Bandra-Kurla Complex (BKC). The renewal is for a substantial five-year term.

LinkedIn secured the lease for six office units located on the fourth floor of one of the towers within the complex, each owned separately. These renewals were agreed upon at record monthly rentals of Rs 565 per sq ft, resulting in a combined monthly lease payment exceeding Rs 10 million.

The renewed leases for these six separate units are set to commence in August 2024, as per documents accessed via Propstack. In conjunction with these renewals, LinkedIn will be providing total deposits amounting to Rs 100 million.

Despite attempts to reach out to LinkedIn via email, the company had not responded as of the time of this report.

LinkedIn maintains offices in various major Indian cities, including Bengaluru, Gurgaon, and New Delhi.

Globally, the professional networking platform boasts more than 950 million members spanning 200 countries and regions. India stands as the second-largest contributor to its membership, with over 110 million members, following the United States with over 206 million members.

LinkedIn's global presence includes a workforce of over 19,500 employees across 36 offices, and in the fourth quarter of 2022-23, the company achieved revenues surpassing $15 billion for the first time.

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