Apple's ₹1000 Crore Bengaluru Office Lease: A Strategic Move Before the iPhone 17

Apple India is expanding its footprint in India by leasing a substantial office space in Bengaluru. The company has secured 2.7 lakh square feet of space, committing to a ten-year lease. This strategic move involves a monthly rent of ₹6.3 crore, according to Propstack, with total payments reaching approximately ₹1000 crore over the lease duration.

Apple's agreement with the Embassy Group includes provisions for parking facilities. The lease was finalized on April 3, 2025, and covers a 120-month period.

Significant Security Deposit

Reviewing the lease registration documents, Propstack estimates that Apple's overall expenditure over the ten years will surpass ₹1000 crore, including rent, parking fees, and maintenance. The lease encompasses floors 5 to 13 in the Embassy Zenith building, and a security deposit of ₹31.57 crore has been made. The rental charge will be ₹235 per square foot, with an annual increase of 4.5 percent. This increase will lead to Apple paying over ₹1000 crore in rent over the next decade.

Apple's Export Performance in 2024-2025

Apple currently dominates the mobile phone export market in India. In the financial year 2024-25, the company's iPhone exports were valued at approximately ₹1.5 lakh crore. The company is showing rapid growth in the Indian market.