The initial rent for the offices on the 30th and 31st floors of Oberoi Commerz III is set at Rs 258 per square foot, taking the total monthly outlay to Rs 2.09 crore. The lease agreement includes a clause to increase rents by 15% after three years.
This is Deloitte’s second major office deal in two months, following the leasing of 175,000 sq ft in Delhi. AerocityBoth leases are pre-commitments. Employing around 15,000 professionals, Deloitte It currently operates out of 13 offices across key cities in India and three of them are in the Mumbai region including Lower Parel, Goregaon and Thane.
The lease for the new office in Mumbai is set to start on November 1 and Deloitte has paid a security deposit of Rs 18.8 crore, equivalent to nine months’ rent, documents accessed through real estate data analytics firm Propstack showed.
Deloitte Shared Services India LLP has leased this new space to the developer Oberoi Real Estate to move its existing operations from another office complex in Goregaon.
ET email query to Deloitte India and Oberoi Real Estate Deloitte India is looking to double its annual revenue to Rs 20,000 crore by 2027 and become the first of the Big Four firms to achieve this milestone, Romal Shetty, Deloitte’s managing director for South Asia, told ET in a recent interaction. The firm has also stated its plan to have around 30% of its workforce operating from India within the next four years, with the estimated total employee count ranging between 150,000 and 160,000 as the country figures prominently in the firm’s global growth plans.
India’s office sector has seen sustained growth despite a sluggish global market environment marked by economic uncertainties. This strong performance is seen as a testament to the strong underlying fundamentals and the absence of any lasting impact from global headwinds.
According to recent data from JLL India, the office market achieved its best-ever first half in the period ending June, with gross leasing at 33.5 million sq ft, up 29% from a year ago, surpassing the previous record of 30.71 million sq ft in H1 2019.
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