iPhone maker Apple India has leased around 2.7 lakh square feet of office space in Bengaluru for 10 years with a starting monthly rent of Rs 6.3 crore, according to data analytics firm Propstack. Apple is the biggest exporter of mobile phones from India. It exported iPhones worth about Rs 1.5 lakh crore in the financial year 2024-25.
The company has taken multiple floors including car parking space on lease from real estate firm Embassy Group.
The iPhone maker is estimated to pay more than Rs 1,000 crore in rent, car park and maintenance charge over a period of 10 years, as per Propstack, which has reviewed the registration document of this leasing transaction. Apple declined to comment on an email query.
The lease has been signed for a period of 120 months or 10 years with effect from April 3, 2025.
The fresh investment from Apple comes despite US President Donald Trump openly calling out the company for expanding operations in India.
The starting rent of the premise is Rs 235 per square feet per month and made a deposit of Rs 31.57 crore. The rent will escalate 4.5% every year thereby leading to total payment of over Rs 1,000 crore.
According to the documents, the company has leased nine floors starting from 5th till 13th floor in Embassy Zenith.
Apple has several engineering teams spread across Bengaluru and Hyderabad.
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