Blackrock leases 42,700 sq ft office space in Worli for 5 years
26 Aug 2024
2 Min Read
CW Team
Blackrock Services India Pvt Ltd has secured a lease for 42,700 sq ft of office space in Mumbai's upscale Worli area. The lease, which began on August 1, 2024, is set at a monthly rent of Rs 300 per sq ft, according to documents obtained by data analytics firm Propstack.
For the first eight months, Blackrock will pay a monthly rent of Rs 11 million, which will increase to Rs 12.8 million for the following four months. The lease agreement also includes rent escalations of 10% in April 2026, followed by 5% increases in both 2027 and 2028.
The office space is situated on the 13th floor of the Altimus office tower, a property developed by K Raheja Corp's subsidiary, Whispering Heights Real Estate. The transaction comes with a lock-in period of 36 months, and Blackrock has provided a security deposit of Rs 128 million.
This lease adds to a trend of high-value commercial deals in Mumbai. For example, in June 2024, IMC Securities Pvt Ltd, a subsidiary of global trading firm IMC Trading, leased office space in Mumbai's Bandra Kurla Complex for Rs 700 per sq ft, marking one of the most significant lease transactions in India. Additionally, a recent ANAROCK report noted that Grade A office rental values in Mumbai averaged Rs 136 per sq ft per month in the first half of FY24, up from Rs 130 per sq ft in H1 FY23.
In May 2024, the UK government's Foreign, Commonwealth, and Development Affairs office purchased office space in Lower Parel, Mumbai's commercial hub, for Rs 1.01 billion.
(moneycontrol)
Blackrock Services India Pvt Ltd has secured a lease for 42,700 sq ft of office space in Mumbai's upscale Worli area. The lease, which began on August 1, 2024, is set at a monthly rent of Rs 300 per sq ft, according to documents obtained by data analytics firm Propstack.
For the first eight months, Blackrock will pay a monthly rent of Rs 11 million, which will increase to Rs 12.8 million for the following four months. The lease agreement also includes rent escalations of 10% in April 2026, followed by 5% increases in both 2027 and 2028.
The office space is situated on the 13th floor of the Altimus office tower, a property developed by K Raheja Corp's subsidiary, Whispering Heights Real Estate. The transaction comes with a lock-in period of 36 months, and Blackrock has provided a security deposit of Rs 128 million.
This lease adds to a trend of high-value commercial deals in Mumbai. For example, in June 2024, IMC Securities Pvt Ltd, a subsidiary of global trading firm IMC Trading, leased office space in Mumbai's Bandra Kurla Complex for Rs 700 per sq ft, marking one of the most significant lease transactions in India. Additionally, a recent ANAROCK report noted that Grade A office rental values in Mumbai averaged Rs 136 per sq ft per month in the first half of FY24, up from Rs 130 per sq ft in H1 FY23.
In May 2024, the UK government's Foreign, Commonwealth, and Development Affairs office purchased office space in Lower Parel, Mumbai's commercial hub, for Rs 1.01 billion.
(moneycontrol)
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
