Apple Leases 2.7 Lakh Square Feet Office Space in Bangalore

Apple has secured approximately 2.7 lakh square feet of office space in Bangalore on a 10-year lease, commencing with a monthly rent of ₹6.3 crore, according to insights from data analytics firm Propstack.

Apple’s Role as India’s Largest Mobile Phone Exporter

Currently, Apple stands as the largest exporter of mobile phones from India, with iPhone exports nearing ₹1.5 lakh crore in the financial year 2024-25.

Details of the Lease Agreement

The company has leased several floors, including car parking areas, from real estate developer Embassy Group.

As per Propstack’s review of the registration documents related to the deal, it is anticipated that Apple will spend over ₹1,000 crore in total on rent, parking, and maintenance over the course of the lease.

Lease Terms and Conditions

The lease, effective from April 3, 2025, is established for a span of 120 months.

This development occurs amid criticism from US President Donald Trump, who has voiced concerns regarding the company’s expansion in India.

According to the documents, the initial rent is set at ₹235 per square foot per month, accompanied by a deposit of ₹31.57 crore. The lease agreement stipulates an annual rent increase of 4.5%, bringing the total expenditure to more than ₹1,000 crore throughout the lease duration.

Location of the Office Space

Apple has leased nine floors in Embassy Zenith, specifically occupying the 5th to the 13th floors.

The iPhone manufacturer is already active with various engineering teams in Bangalore and Hyderabad.

(with inputs from PTI)