Apple Rents More Office Space At Embassy Zenith, Bengaluru

Global technology major Apple Inc has expanded its Bengaluru footprint by taking an additional 1.21 lakh sq ft at Embassy Zenith, a move that pushes its total leased area at the campus to about 3.89 lakh sq ft and implies a rental commitment of roughly ₹1,333 crore over a 10-year term. What does the lease structure look like and what does it signal for Apple’s India operations and Bengaluru’s office market?

What Are The Key Numbers In The New Lease?

Apple’s fresh agreement covers 1,21,203 sq ft of chargeable area spanning the ground floor through the fourth floor of the tower, at a headline rent of ₹235 per sq ft per month, producing an initial monthly outgo of about ₹2.84 crore for the newly added floors. The lease reportedly commenced on 25 September 2025 and carries a 10-year tenure with an annual escalation of 4.5% starting 3 April 2026.

A security deposit of ₹14.24 crore was paid for this tranche, and the deal includes payment for 123 car parking slots (additional ₹11.07 lakh). The transaction was signed with landlord MAC Charles (India) Limited and contains a lock-in clause running until 2 April 2030.

How Does This Fit Into Apple’s Overall Footprint At The Campus?

This latest addition follows an earlier lease in April 2025 when Apple secured roughly 2.68–2.70 lakh sq ft at Embassy Zenith (fifth to 13th floors) at the same ₹235 per sq ft monthly rate that earlier commitment generated a monthly rent of about ₹6.35 crore and a security deposit of nearly ₹31.57 crore.

Combined, Apple’s occupied area at Embassy Zenith now stands at 3.89 lakh sq ft, with a combined monthly rent of approximately ₹9.16 crore; when extrapolated over the agreed 10-year terms (including the new and earlier tranches), the aggregate rental commitment is estimated at about ₹1,333 crore. Propstack’s lease documents and market filings provide the primary data behind these calculations.

What Does The Deal Mean For Bengaluru’s Office Market And Apple’s Strategy?

The scale and structure of the lease is long tenure, fixed escalation, significant security deposit and parking costs, plus first-refusal rights on surrendered floors. This underlines a strategic, long-term operational bet on Bengaluru as a principal engineering and operational hub for Apple in India.

Market analysts say large, long-dated commitments by multinational technology firms sustain demand for Grade-A office stock even as occupiers remain selective on location and cost. For the landlord and campus operator, Apple’s expanded occupancy cements Embassy Zenith’s profile as a preferred address for hyperscale technology tenants.

Sources

Moneycontrol