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NEW DELHI: Apple India has secured approximately 270,000 square feet of office space in Bangalore, committing to a 10-year lease with an initial monthly rent of Rs 6.3 crore, as reported by data analytics firm Propstack.
As the leading exporter of mobile phones from India, Apple has exported iPhones valued at around Rs 1.5 lakh crore in the financial year 2024-25.
The space, sourced from the Embassy Group, includes several floors and car parking facilities.
According to Propstack, Apple is projected to spend over Rs 1,000 crore on rent, car park, and maintenance fees over the full lease term—this figure is based on their review of the registration documents related to the leasing agreement.
Apple did not provide a comment in response to an email inquiry.
The lease spans 120 months, commencing on April 3, 2025.
This significant investment from Apple occurs despite US President Donald Trump publicly criticizing the company for its expansion in India.
The initial rent is set at Rs 235 per square foot monthly, with a deposit amounting to Rs 31.57 crore. The rent will increase by 4.5 percent annually, culminating in total payments exceeding Rs 1,000 crore.
Documents reveal that Apple has leased nine floors, from the 5th to the 13th floor, in Embassy Zenith. The company has numerous engineering teams located in both Bangalore and Hyderabad.
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