Aditya Birla Group company Hindalco Industries has picked up an entire floor spread over 50,000 sq ft office space in Blackstone Group entity Nucleus Office Parks’ commercial complex One International Center in Mumbai’s business district Lower Parel on a long-term lease of five years.
The company will be paying total rent of nearly Rs 54 crore for these five years including a 15% rent escalation after the first 36 months. The agreement provides an option to extend the term of the lease by additional five years.
Hindalco Industries’ headquarters is currently housed in Birla Centurion, a standalone commercial tower on Worli’ Budhkar Marg close to the new premises.
The aluminium and copper manufacturing company is looking to consolidate its various offices and also expand the capacity in the new office ensuring ease of connectivity for their employees while keeping the new office in close proximity to the Birla HQ in the vicinity.
Hindalco has picked up the 21st floor in T4, a 22-storeyed and 7-lakh-sq-ft front facing new tower that is part of One International Centre in Lower Parel.