Hypocrisy at it’s best

Bengaluru’s IT sector is set to welcome a major new player to the city. Based in Mumbai, Tata Consultancy Services (TCS) has signed a big lease for 1.4 million square feet of office space at 360 Business Park in Electronic City, according to media reports.

The key highlight of the office deal is that it is the largest one in Bengaluru in recent years. The lease covers two buildings, Towers 5A and 5B, with 680,000 square feet in Tower 5A and 720,000 square feet in Tower 5B. The landlord is Labzone Electronics City Pvt Ltd.

TCS will pay a monthly rent of Rs 9.31 crore at Rs 66.5 per square foot, and they will give a security deposit of Rs 112 crore. The rent will increase by 12% every three years. Over the full lease period, TCS will pay around Rs 2,130 crore.

#TCS #bengaluru #ETNOW