Informist, Saturday, Sep 24, 2022
Janaki Krishnan
MUMBAI – Accounting and consultancy services firm Ernst & Young has renewed the lease of its office premises in central Mumbai for 30 months, at a monthly rent of 6.65 mln rupees.
The office is located on the 17th floor of 'The Ruby' building in Dadar area. The total carpet area the company is leasing is 40,332 sq ft, registration documents from data analytics firm CRE Matrix, accessed by Informist, show. The effective rate works out to 165 rupees per sq ft a month.
The company gets 14 car parks with the lease for which charges are extra. Along with water charges, the monthly outgo is about 6.9 mln rupees.
Prior to the renewal, for the last three years, EY has been paying a similar amount for the same premises, indicating that there has been no lease renewal spread.
The Ruby Tower was jointly developed by Ruby Mills and Rohan Lifescapes and has become a landmark of sorts in the central Mumbai area. EY is one of its several high-profile clients.
Unlike their Indian counterparts, multinational companies have been slower to bring their employees back to offices. They wait for directions from their global headquarters and get approval before bulk of the employees are allowed back to work from office. Currently, occupancy for multinational companies is still under 40%, but landlords are sanguine that this could increase next month onwards. End
Edited by Aditya Sakorkar
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
Informist, Saturday, Sep 24, 2022
Janaki Krishnan
MUMBAI – Accounting and consultancy services firm Ernst & Young has renewed the lease of its office premises in central Mumbai for 30 months, at a monthly rent of 6.65 mln rupees.
The office is located on the 17th floor of 'The Ruby' building in Dadar area. The total carpet area the company is leasing is 40,332 sq ft, registration documents from data analytics firm CRE Matrix, accessed by Informist, show. The effective rate works out to 165 rupees per sq ft a month.
The company gets 14 car parks with the lease for which charges are extra. Along with water charges, the monthly outgo is about 6.9 mln rupees.
Prior to the renewal, for the last three years, EY has been paying a similar amount for the same premises, indicating that there has been no lease renewal spread.
The Ruby Tower was jointly developed by Ruby Mills and Rohan Lifescapes and has become a landmark of sorts in the central Mumbai area. EY is one of its several high-profile clients.
Unlike their Indian counterparts, multinational companies have been slower to bring their employees back to offices. They wait for directions from their global headquarters and get approval before bulk of the employees are allowed back to work from office. Currently, occupancy for multinational companies is still under 40%, but landlords are sanguine that this could increase next month onwards. End
Edited by Aditya Sakorkar
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
