Byju’s rents more office space in Mumbai , plans on expansion.
- ByStartupStory | November 22, 2021
Think & Learn Pvt. Ltd, which runs India’s most valuable startup Byju’s, has leased about 3,000 sq ft in Mumbai as it continues to grow its office footprint in India’s financial capital. This is further indicating the fact that with covid vaccinations becoming fairly easy, offices tend to return to physical offices.
The leased space comprises two units across two floors, with a total monthly rental of ₹3 lakh, showed documents accessed by real estate data portal Indextap.com. Byju’s leased 1,500 sq. ft from Sunit Plastomer LLP and a similar-sized unit from Kamal and Manoj Gavlani for a period of five years.
Both office units are located in the Glacis Tower building in suburban Mumbai’s Khar.
After paying about ₹3 lakh every month till October 2023, the lease agreement entails a 10% increase in rentals every two years until October 2026.
“Bengaluru, Mumbai and NCR have continued to command the lion’s share of office space demand. The covid-led rise in vacancy levels has been arrested as more and more corporates return to the office,” said Abhishek Kiran Gupta, CEO at CRE Matrix and IndexTap.
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