Apple signs 10-year lease for new Bengaluru office, to pay ₹1,000 crores in rent

In a significant move to bolster its presence in India, Apple has secured a substantial 10-year lease for approximately 270,000 square feet of office space in Bengaluru. The tech giant is set to commence this agreement on April 3, 2025, with an initial monthly rental fee of ₹6.3 crore, as reported by data analytics firm Propstack. As the leading exporter of mobile phones from India, Apple has achieved remarkable success, shipping iPhones valued at nearly ₹1.5 lakh crore during the financial year 2024-25. The company has leased multiple floors, specifically from the 5th to the 13th, along with parking facilities, from the real estate firm Embassy Group. Documents reviewed by Propstack indicate that over the course of the lease, Apple is projected to spend upwards of ₹1,000 crore, which encompasses rent, parking, and maintenance fees. The initial rental rate is set at ₹235 per square foot per month, accompanied by a deposit of ₹31.57 crore. The agreement also stipulates an annual rent increment of 4.5%, contributing to the total expenditure over the decade-long lease. Despite facing criticism from former US President Donald Trump regarding its Indian operations, Apple continues to expand its engineering teams across both Bengaluru and Hyderabad. When approached for comments about the lease, Apple refrained from providing any statements on the matter.