Apple India expands Hyderabad facility, leases additional 57,000 sq ft office space

Apple is paying a lease rent of around Rs 125 per square foot per month

Technology and electronics giant Apple has leased an additional 57,000 square feet of space at the Waverock IT SEZ campus in Hyderabad's Gachibowli at a starting monthly rent of Rs 71.67 lakh, according to registration documents accessed by Propstack. With the new lease, Apple's development centre in the city now covers 634,000 square feet.

Apple is paying Rs 125 per square foot per month, including a warmshell rent of Rs 74.18, and fitout rentals of Rs 50.82, for the space which is spread over five floors. The rentals carry a yearly escalation of 4.77 percent, according to the documents. The lease, agreed on December 1, will run for five years.

The campus is owned by the consortium of Xander Real Estate and the Singaporean sovereign wealth fund GIC. In September, Apple signed another lease expansion deal with Waverock, leasing 64,125 square feet of space.

Moneycontrol has written to Apple for comments and the story will be updated once the response comes in.

The Gachibowli office is Apple's largest development centre in India and a key facility for the development of its mapping business under Apple Maps. The centre focuses on geospatial technology and data modelling. The centre was opened by Apple CEO Tim Cook in 2016.

Besides Hyderabad, the company has offices in cities such as Mumbai and Bengaluru, and has also ramped up its retail presence in Mumbai, Pune, Delhi NCR, and Bengaluru.