MUMBAI: India’s largest office space deal has just been concluded
in Thane. Software major Tata Consultancy Services recently signed
on the dotted line to pick up 19 lakh square feet for its biggest
office under one roof at Hiranandani Estate in Thane.
Once delivered, TCS will be able to accommodate 30,000 of its
employees in this office.
Hiranandani Constructions hopes to deliver the office in the next
TCS and Hiranandani have signed a 15-year contract with the option
of a reset clause every three years. The monthly lease rental for
the space is between Rs 50 and Rs 55 per sq ft and that the annual
lease rental for the property will be in the range of Rs 120 crore
to Rs 130 crore.
While confirming the deal to Mumbai Mirror, Niranjan Hiranandani
said that it will boost job generation in Thane – direct and
auxiliary –which has been on the downswing after industries shut
down in Thane.”We have given 19 lakh sq feet to the TCS on long
lease for setting up a single beam IT park.This will be the
largest one in the country owned by a single company. Nearly
25,000 people in Thane will get jobs. A lot of people in Thane
lost jobs when industries closed down. These 25,000 jobs are
much more than the jobs lost during closure of industries. Work
has already started and it will take nearly one and a half
years to complete it. We will provide the best architecture
here,” he said.
Confirming the reports Thane Municipal Comissioner Sanjeev
Jaiswal said, “It is a matter of pride that the TCS campus is
coming to Thane.This one is going to be a grand project and we
are working towards it.”
The Thane lease will help India’s largest software services expor
-ter to consolidate its growth plans.The revenues of TCS stood at
Rs24,220 crore in 2015 and the company has a headcount of 3.2
lakh.During the announcement of the company’s annual results last
year,N Chandrasekaran, MD & CEO of TCS had said:”We have laid a
strong foundation for growth in 2015-16.”
TCS has 19 offices in Mumbai and the surrounding areas,
including its headquarters, and 10 delivery centres in Mumbai
The lease deal also signals a revival in the commercial real
estate market in Mumbai, which had turned sluggish of late.