TCS has rented a 2 mn sq ft office space! This can accommodate 30, 000 employees

Hiranandani, a suburb in Mumbai that houses various companies and offers clutter and congestion free zone to operate, is going to get a new occupant. The Tata Consultancy Services (TCS) is planning to open a 2 million square feet office space in Hiranandani, which is a sought after option for startups for affordable rates than downtown.

This is probably the largest office space acquired by the software exporter in the country. The lease deal of TCS will be for 15 years with a reset clause that will be renewed every three years. As per the terms of the deal, TCS will also hold a soft option to extend the lease by another 2 million sq ft.

The office space of TCS will be used for consolidation as well as expansion plans. However, Niranjan Hiranandani, managing director of Hiranandani Constructions, has kept his mum on this new move, claiming confidentiality.

The new office space will accommodate 30, 000 employees. The monthly lease rent will range between Rs 50 and Rs 55 per sq ft, which will make it to Rs 120 crore to Rs 130 crore annually. Hiranandani Constructions is expected to deliver the office space within two years of the signing of the lease agreement.

Presently, TCS has 19 offices in Mumbai and 10 delivery centres in Mumbai and Thane. For the year ended March 2015, the company generated consolidated revenues of $15.5 billion.