IT services and consulting major Tata Consultancy Services (TCS) has signed one of India’s largest office lease transactions of the year, taking up 1.4 million sq ft space at the 360 Business Park in Bengaluru's Electronics City, with a total rental commitment of over Rs 2,130 crore spread over 15 years.
The office space, spread across Towers 5A and 5B - developed by Labzone Electronics City - will be occupied in two phases beginning April 2026.
According to real estate data analytics firm Propstack, the transaction is a fresh 15-year lease with a total rental commitment of over Rs 2,130 crore, with TCS committing to a monthly rent of Rs 9.31 crore or Rs 66.5 per sq ft with 12% escalation every three years. A security deposit of Rs 112 crore has been placed.
Read More: Apple leases office floors in Bengaluru for 10 years in a deal worth Rs 1,010 crore
The chargeable area includes 6.80 lakh sq ft in Tower 5A and 7.20 lakh sq ft in Tower 5B. Both buildings feature three basements, a ground floor and 13 upper floors. The lease registrations were completed at the Bommanahalli sub-registrar office, as per certified government records.
Phase I of the lease will cover the lower eight floors (up to April 2026), while Phase II covering the upper six floors will begin from August 2026.
The transaction comes at a time when Bengaluru’s office absorption - or the net change in occupied office space - is seeing growth after a muted 2023–24. Data from market trackers shows gross absorption in the city crossed 9 million sq ft in H1CY25, with leasing momentum led by IT/ITeS and global capability centres (GCCs).
For TCS, the move signals a long-term workspace bet, even as the IT industry faces a mixed demand environment and increasing adoption of hybrid working. The leasing decision comes on the back of TCS’ announcement to rationalise its workforce by around 2% or 12,000 employees over the next year.
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