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Deloitte India has leased approximately 81,000 sq. ft of premium office space in Mumbai's Oberoi Commerz III, spanning the 30th and 31st floors. This deal, costing INR 2.09 crores per month with a 15% rent increase every three years, follows another significant lease in Delhi's Aerocity. With plans to house 30% of its global workforce in India, Deloitte aims to achieve INR 20,000 crore in annual revenue by 2027. This expansion reflects India's vital role in Deloitte's global strategy, leveraging the country's strong office market and talent pool.
In a significant real estate move, Deloitte India has rented almost 81,000 sq. ft of premium office space across two stories of the Oberoi Commerz III tower, situated in Mumbai's western suburb of Goregaon. The office is spread across the 30th and 31st floors of the tower which is under development. The company will pay INR 2.09 crores per month as per the terms of the agreement which also includes a 15% yearly increase in rent after a period of three years. The starting rent works out to be INR 258 per sq. ft each month, as per the documents. The organization has deposited INR 18.8 crore to secure the lease. Advertisement
This is Deloitte India's second huge leasing deal in two months, following the office deal of 175,000 sq. ft in Delhi's Aerocity. Both of the two leases are pre-commitments, showcasing the organization's strategic expansion plans. The firm works across 13 major Indian urban cities and in Mumbai it includes offices in Lower Parel, Goregaon and Thane. Deloitte employs roughly 15,000 experts in India. Deloitte Shared Services India LLP will move from another office space in Goregaon to Commerz III which is directly leased from the developer Oberoi Realty. Deloitte India aims to increase its annual revenue to INR 20,000 crore by 2027, striving to become the first among the Big Four firms to reach this milestone, according to a recent interview with Romal Shetty, Deloitte's CEO for South Asia, reported by ET.
India assumes a crucial part in Deloitte's worldwide strategy and the firm plans to have around 30% of its labour force situated in India over the course of the following four years. With a projected representative population of 150,000 to 160,000 in the country, India is a focal point of Deloitte's future. Recent data from JLL India reveals that the office market experienced its strongest first half ever, with gross leasing reaching 33.5 million sq ft by the end of June. This represents a 29% increase from the previous year and exceeds the former record of 30.71 million sq ft set in the first half of 2019. The country's ability pool and powerful market position make it a critical supporter of the company's drawn out worldwide desires.
Deloitte India's leasing of nearly 81,000 sq. ft in Mumbai's Oberoi Commerz III highlights its significant expansion strategy, following a recent large lease in Delhi. With plans to grow its workforce in India, Deloitte aims to reach INR 20,000 crore in annual revenue by 2027. This strategic move underscores India's critical role in Deloitte's global ambitions, aligning with the country's strong office market performance. The firm's focus on India reflects its goal to house 30% of its global workforce in the country over the next four years.
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