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TCS has leased 1.4 million sq ft at 360 Business Park in Bengaluru’s Electronic City in one of the city’s largest office space deals
TCS
Mumbai-headquartered Tata Consultancy Services (TCS) has signed a lease agreement for 1.4 million sq ft of office space at 360 Business Park in Bengaluru’s Electronic City, in what is being described as one of the largest office transactions in the city in recent years, The Times of India reported, citing lease documents accessed via Propstack.
Deal Structure and Lease Terms
The deal covers Towers 5A and 5B of the project—6.8 lakh sq ft in Tower 5A and 7.2 lakh sq ft in Tower 5B—owned by Labzone Electronics City Pvt Ltd.
The lease will be executed in two phases. The first phase, covering ground plus seven floors, will commence on April 1, 2026. The second phase, covering floors eight to thirteen, will begin on August 1, 2026.
The agreement has a 15-year tenure, with TCS paying a monthly rent of Rs 9.31 crore at Rs 66.5 per sq ft. The deal is backed by a security deposit of Rs 112 crore and includes a 12% escalation every three years. The total outlay over the lease period is estimated at Rs 2,130 crore, according to the report.
Expansion in Bengaluru’s IT Corridor
The project comprises three basements, a ground floor and 13 upper floors. With this lease, TCS is expanding its presence in Bengaluru’s southern IT corridor, where demand for large contiguous office spaces remains strong among top technology firms.
This comes after reports in June that TCS has earmarked more than Rs 4,500 crore for setting up new campuses, leasing office spaces and developing long-term infrastructure as part of its nationwide expansion strategy.
In Bengaluru, the company has already acquired 1.4–1.6 million sq ft from Sattva–Darshita Southern India Happy Homes for Rs 2,250 crore and another 3.2 million sq ft from TRIL for Rs 1,625 crore, expected to add 25,000 seats once operational.
Growth Beyond Metros
TCS is also ramping up its footprint in Tier-II cities. In Visakhapatnam, it secured 21.6 acres on a 99-year lease from the state government in 2024. In Kochi, it purchased 37 acres in the Kinfra Electronics Manufacturing Cluster for Rs 690 crore. The company has also leased additional office spaces in Coimbatore and Hyderabad.
In Kolkata, TCS is developing 30 acres across its Sanchita Park and Bengal Silicon Valley Hub campuses. The project will add 16,500 seats, with 12,500 to be ready in 2025 and the rest phased over three years.
Office Market Trend in India
The TCS transaction adds to a series of large-scale office leases by global technology and financial services firms in India’s key cities, TOI noted.
- Amazon is leasing 1.1 million sq ft from Sattva Group in Bengaluru.
- Google India has taken 1.6 million sq ft at Bagmane Rio Park in Bengaluru and renewed 3.7 lakh sq ft at Sattva Knowledge Capital in Hyderabad.
- JP Morgan has signed for 1.16 million sq ft at Nirlon Knowledge Park in Goregaon, Mumbai.
- Morgan Stanley leased 1 million sq ft at Oberoi Commerze III in Mumbai with a starting monthly rent of Rs 15.96 crore.
- Qualcomm secured more than 1.5 million sq ft across an entire 20-storey tower in K Raheja Corp’s IT park in Hyderabad.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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