Curation Team
Eternal Ltd, the recently renamed parent company of food delivery platform Zomato and quick-commerce service Blinkit, has picked up nearly 1 lakh sq ft of commercial office space in Mumbai‘s Andheri suburb through a long-term lease of over five years.
The company has entered into a licensing agreement with Runwal Realty subsidiary Histyle Retail for this office premises spanning across total seven floors of a commercial tower R Square in J B Nagar locality.
The starting monthly rent for the premises is set at Rs 1.34 crore, translating to a per square foot rate of Rs 160. The agreement includes a clause to escalate rentals by 15% the first 36 months of the term.
The security deposit paid by Eternal Ltd amounts to over Rs 8.07 crore. The lease terms include a lock-in period of 60 months for the licensor and 36 months for the licensee, shows the documents accessed through realty data analytics firm CRE Matrix.
The registration for the agreement was completed on May 9 and the lease commenced from May 1. The agreement provides for a fit-out period of 150 days, after which the monthly rental obligations will begin.
The deal represents one of the larger recent commercial leasing transactions in Mumbai’s suburban office market and signals Eternal Ltd’s growing operational footprint after its transition into a multi-brand entity.
Eternal Ltd was formerly known as Zomato Ltd and now functions as the holding company for Zomato, Blinkit, Hyperpure, and live events platform District.
ET’s email query to Eternal and Runwal Realty remained unanswered until the time of going to press.
While Global Capability Centers (GCCs) remain a key driver of office space demand in India, domestic demand is also strong, led by Indian corporates in sectors such as financial services, infrastructure, manufacturing, and new-age technology.
As these companies expand operations, they continue to lease space in well-connected business locations. This dual engine of demand, global and domestic, has sustained leasing activity across major cities, supporting both established and emerging micro-markets.
