Occupiers are the core of our universe. Our high occupier retention rates demonstrate the bond we share with our existing occupier base.
Bhhavesh Kamdar
President, Leasing
New leases signed
Existing occupier expansion
Re-leasing spreads
We focus on creating long-term value for our occupiers and providing them with superior experience, consistently. Our leasing team engages with occupiers regularly to stay abreast of their evolving needs and preferences.
During the year, we leased 2.4 msf completed area to 25+ occupiers and renewed 0.6 msf space with 12+ existing occupiers at 19% renewal spread.
Notable deals signed
during the year ended March 31, 2020
| Occupier | Asset | City | Area ('000 sf) |
|---|---|---|---|
| ANSR | Embassy Manyata | Bengaluru | 306 |
| NTT Data | Embassy GolfLinks | Bengaluru | 259 |
| MetLife | Embassy Oxygen | Noida | 246 |
| HCL | Embassy TechZone | Pune | 236 |
| WeWork | Embassy Manyata | Bengaluru | 220 |
| L&T Infotech | Embassy TechZone | Pune | 128 |
| Infosys BPM | Embassy TechZone | Pune | 128 |
| GlobalLogic | Embassy Oxygen | Noida | 109 |
| Embassy GolfLinks | Bengaluru | 104 | |
| Google India | FIFC | Mumbai | 61 |
| NTT Data | Embassy Oxygen | Noida | 53 |
| Oppo Mobiles | Embassy 247 | Mumbai | 29 |
| Multiple | Multiple | Multiple | 471 |
| Total | 2,351 |
1.8 msf average new leases signed
between FY2016 and FY2019 Area (msf)
Note: New leases signed includes re-leases, excludes renewals
42.2% average re-leasing spread
between FY2016 and FY2019 (%)
Market rents are c.30% above
in‑place rents (` psf / month)
c.25% of leases expire between
FY2021–24 Area expiring (msf)
