Apple India has secured a significant presence in Bengaluru by leasing 2.7 lakh square feet of office space for its new office. The lease agreement spans ten years. Data analytics firm Propstack indicates that the monthly rent will be ₹6.3 crore, resulting in a total payment of roughly ₹1000 crore over the decade.
Apple finalized the lease with real estate firm Embassy Group, which includes provisions for car parking. The lease agreement was formalized on April 3, 2025, and covers a period of 120 months.
Substantial Security Deposit
Propstack’s review of the lease registration documents reveals that Apple’s total outlay over the ten-year period, encompassing rent, parking, and maintenance, will exceed ₹1000 crore. The lease includes floors 5 through 13 within the Embassy Zenith building, accompanied by a security deposit of ₹31.57 crore. The rental rate is set at ₹235 per square foot, subject to an annual increase of 4.5%. This escalation will contribute to Apple’s overall rental expenditure exceeding ₹1000 crore during the lease term.
Export Figures for 2024-2025
Apple currently holds the position of India’s foremost mobile phone exporter, with iPhone exports valued at approximately ₹1.5 lakh crore during the fiscal year 2024-25. The company’s continued investment in India underscores a trend of accelerated expansion.