Flipkart leases the single largest office space in India-a whopping 2million sq ft!

India’s biggest eCommerce company, Flipkart, has sealed country’s single largest office space leasing deal at two million square feet custom-built office campus in IT hub Bengaluru.

The company seeks to expand operations and workforce, which currently occupies five lakh square feet across the city.
Flipkart was initially in talks with the Embassy Group and vying for 3 million sq ft. However, the plan was revised and the deal was signed for 2 million sq ft for 20 years. Flipkart will pay rent at Rs 50 a month per sq ft.

"Two million sq ft of office space seats over 20,000 people," a person involved in the transaction told Economic Times.
Flipkart seeks to move all its operations from various offices to one location.

Currently, its office space includes 106,000 sq ft in Mantri Commercio, 37,674 sq ft in Salarpuria Tech Point and 9,000 sq ft in Brigade Court.

Flipkart confirmed the transaction, but didn't provide details. Head of Embassy Office Parks, Bhhavesh Kamdar, said the property will be delivered in two phases. “The Phase I comprising 1.5 million sq ft will be handed over in the next two years,” Kamdar told the financial daily.

Meanwhile, Managing Director for South India at JLL, which was Flipkart’s adviser in the deal, Juggy Marwaha said that with the current supply-demand dynamics in Bengaluru, large occupiers who have better visibility of their business would find locking space in advance as the way forward.

He told ET that Flipkart-Embassy deal was by far the single largest commitment of office space anywhere in the country "as a one-shot take up, without any option spaces reserved".

The new campus will come up as part of Embassy Tech Village on the Outer Ring Road and will be owned by US private-equity giant Blackstone and Embassy Group.

(Image: Indiatimes)