Apple has leased an additional 1.21 lakh sq ft of office space at Bengaluru’s Embassy Zenith for a monthly rent of ₹2.84 crore. This brings its total occupancy in the commercial tower to 3.89 lakh sq ft, with a monthly rent of ₹9.16 crore, according to documents accessed by Propstack.
With this addition, Apple’s total leased area in Embassy Zenith now stands at 3.89 lakh sq ft, with a total rent of ₹1,333 crore for 10 years.
The fresh lease covers 1,21,203 sq ft of chargeable area spanning the ground to fourth floors. The space was taken at a rental of ₹235 per sq ft per month. The landlord is MAC Charles (India) Limited, and the transaction is for 10 years commencing September 25, 2025, the document showed.
Apple paid a security deposit of ₹14.24 crore. The lease carries an annual escalation of 4.5%, from April 3, 2026, it showed. The transaction has a lock-in period until April 2, 2030. The company will also pay an additional ₹11.07 lakh rent for 123 car parking slots, the document showed.
The agreement also states that any space in the building that becomes available due to other tenants surrendering their premises will first be offered to Apple for potential expansion of its existing lease.
This current expansion follows Apple’s earlier lease of 2.7 lakh sq ft in the same building in April 2025, covering the fifth to 13th floors at the same rental rate of ₹235 per sq ft. Apple has been paying a monthly rent of ₹6.35 crore with a security deposit of ₹31.57 crore.
“Apple’s decision to exercise its expansion rights at Embassy Zenith, bringing its total commitment to ₹1,333 crore over 10 years, is a massive vote of confidence in India’s premium office market. This scale of investment further cements Bengaluru’s position as a critical global hub for Apple’s engineering and operational growth,” said Raja Seetharaman, co-founder of Propstack.
An email query has been sent to Apple India Private Limited and Embassy Group. The story will be updated if a response is received.
Previous transactions by Apple
In May 2025, Apple India leased 7997.8 sq ft of retail space in North Bengaluru’s upscale Phoenix Mall of Asia for an annual rent of ₹2.09 crore for 10 years, according to documents accessed by Propstack. The lease has a 10-year term, with a 15% escalation in both rent and the security deposit every 3 years. Apple paid a security deposit of ₹1.046 crore, the document showed.
The lease also included a revenue-sharing component of almost 2% of revenue for the first 36 months and 2.5% thereafter. However, revenue-share payments are capped at twice the applicable yearly minimum guaranteed rent, the document showed.
According to media reports, in 2023, Apple leased several floors of Prestige Estates Projects’ commercial building, Prestige Minsk Square, in Bengaluru’s central business district on Cubbon Road, for 10 years at a starting monthly rent of ₹2.44 crore.
In September last year, the company opened its third retail outlet at Phoenix Mall of Asia in North Bengaluru’s Hebbal, marking the company’s third official store in India after Apple BKC in Mumbai’s Bandra Kurla Complex and Apple Saket in Delhi, both launched in 2023.
The Bengaluru store spans 7,997.8 sq ft under a 10-year lease signed in November 2024. According to documents accessed by Propstack, rent payments began in August 2025 at an annual ₹2.09 crore, with Apple placing a ₹1.046 crore security deposit. Both rent and deposit will increase by 15% every three years, the document showed.
