Eternal Ltd Expands with Major Mumbai Office Space Lease

Eternal Ltd, the parent company of Zomato, has secured a significant office space lease in Mumbai, marking an expansion move. The firm has taken on lease 84,157 sq ft in Andheri (East) Mumbai from Histyle Retail Pvt Ltd for a five-year term, according to CRE Matrix data.

The initial monthly rent for the space is set at Rs 160 per sq ft, amounting to Rs 1.34 crore, as per registration documents reviewed. The agreement, officially registered on May 9, includes a provision for a 15% rent increase after three years.

The demand for office space has witnessed robust growth over the past two years, driven by domestic and foreign corporates. This has led to gross office leasing reaching unprecedented levels in 2024. Notably, Zomato also rebranded as 'Eternal Ltd' on stock exchanges last month.

(With inputs from agencies.)