Latest news with #Rs102
Time of India
2 days ago
- Business
- Time of India
ARM Embedded Technologies leases over four lakh sq ft with Bagmane in Bengaluru
ARM Embedded Technologies Pvt Ltd, the India arm of UK-based semiconductor and software design giant ARM Holdings, has leased over 4 lakh sq ft of Grade-A office space in Bagmane Constellation Business Park of the city to expand its operation. The space is in Taurus 4 (North Tower) block of the park, developed by Bagmane Constructions Pvt Ltd, and represents a fresh lease agreement, not a renewal or consolidation, said people aware of the development. According to the registered lease document shared by Propstack, a data analytic firm, the lease term spans 15 years, with a structured 15% rent escalation every three years, indicating ARM's long-term expansion strategy in India. The monthly rental is pegged at Rs102 per sq ft, translating to a monthly rent of approximately Rs 4.17 crore, or Rs 50 crore annually. Over the full 15-year lease term, ARM is expected to commit close to Rs1,000 crore in total rental payments, marking this as one of the most high-value, long-duration commercial leases signed in the country in recent quarters, said Propstack. The lease covers multiple levels within the building, which includes three basement levels, a ground floor, and 11 upper floors, providing ARM with space for current operations and future growth. The security deposit has been recorded at Rs 20.59 crore, reflecting the scale and seriousness of the engagement. Bagmane Constellation Business Park, located in the CBD-adjacent to the KR Puram-Marathahalli stretch, is a premium IT SEZ that has consistently attracted top-tier global tenants including Amazon, Boeing, and PwC. According to real estate experts, the deal underscores the growing institutional commitment to India by global technology firms, particularly in the semiconductor and embedded systems domain. As ARM plays a pivotal role in enabling global AI, IoT, and mobile computing technologies, this expansion points to increasing R&D and engineering activity being channelled through its India operations. 'This deal is significant not only in terms of size but also the tenure and financial commitment involved. A 15-year lease of over Rs 1,000 crore in value reflects clear confidence in India's innovation ecosystem and the long-term stability of Bengaluru 's commercial office market,' said a senior executive in the office leasing space. The lease comes at a time when the Indian commercial office market is witnessing strong absorption trends, especially from global capability centres (GCCs) in tech and life sciences. With new supply in Bengaluru expected to remain tight in the next few quarters, such large pre-commitments signal robust demand for quality real estate, particularly in core locations. With this deal, ARM joins a growing list of global technology firms committing long-term capital to India's innovation corridor, reinforcing the country's position as a critical node in the world's digital and semiconductor economy. It also aligns with India's growing importance in global semiconductor strategy. As nations diversify supply chains and invest in design-led innovation, companies like ARM are looking to deepen their talent presence in engineering hotspots like Bengaluru.
Time of India
3 days ago
- Business
- Time of India
UK-based firm, ARM embedded leases over 4 lakh sqft with Bagmane at Bangalore
ARM Embedded Technologies Pvt Ltd, the India arm of UK-based semiconductor and software design giant ARM Holdings, has leased over 4 lakh sq ft of Grade-A office space in Bagmane Constellation Business Park of the city to expand its operation. The space is in Taurus 4 (North Tower) block of the park, developed by Bagmane Constructions Pvt Ltd, and represents a fresh lease agreement, not a renewal or consolidation, said people aware of the development. According to the registered lease document shared by Propstack, a data analytic firm, the lease term spans 15 years, with a structured 15% rent escalation every three years, indicating ARM's long-term expansion strategy in India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tepluhi: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo The monthly rental is pegged at Rs102 per sq ft, translating to a monthly rent of approximately Rs 4.17 crore, or Rs 50 crore annually. Over the full 15-year lease term, ARM is expected to commit close to Rs1,000 crore in total rental payments, marking this as one of the most high-value, long-duration commercial leases signed in the country in recent quarters, said Propstack. The lease covers multiple levels within the building, which includes three basement levels, a ground floor, and 11 upper floors, providing ARM with space for current operations and future growth. The security deposit has been recorded at Rs 20.59 crore, reflecting the scale and seriousness of the engagement. Live Events Bagmane Constellation Business Park, located in the CBD-adjacent to the KR Puram-Marathahalli stretch, is a premium IT SEZ that has consistently attracted top-tier global tenants including Amazon, Boeing, and PwC. According to real estate experts, the deal underscores the growing institutional commitment to India by global technology firms , particularly in the semiconductor and embedded systems domain. As ARM plays a pivotal role in enabling global AI, IoT, and mobile computing technologies, this expansion points to increasing R&D and engineering activity being channelled through its India operations. 'This deal is significant not only in terms of size but also the tenure and financial commitment involved. A 15-year lease of over Rs 1,000 crore in value reflects clear confidence in India's innovation ecosystem and the long-term stability of Bengaluru's commercial office market,' said a senior executive in the office leasing space. The lease comes at a time when the Indian commercial office market is witnessing strong absorption trends, especially from global capability centres (GCCs) in tech and life sciences. With new supply in Bengaluru expected to remain tight in the next few quarters, such large pre-commitments signal robust demand for quality real estate, particularly in core locations. With this deal, ARM joins a growing list of global technology firms committing long-term capital to India's innovation corridor, reinforcing the country's position as a critical node in the world's digital and semiconductor economy. It also aligns with India's growing importance in global semiconductor strategy. As nations diversify supply chains and invest in design-led innovation, companies like ARM are looking to deepen their talent presence in engineering hotspots like Bengaluru.
Express Tribune
24-02-2025
- Business
- Express Tribune
BISP beneficiaries to get bank accounts
The government has increased the amount for Benazir Income Support Programme (BISP) from Rs97 billion for fiscal year 2014-15 to Rs102 billion for 2015-16. PHOTO: PID The Chairperson of the Benazir Income Support Program (BISP) Rubina Khalid on Monday declared that any deductions from the funds of deserving women and the presence of the agent mafia will not be tolerated under any circumstances. She made these remarks during her visit to the Dynamic Registration Office in Deh Shah Bukhari and the Benazir Nashonuma Center in Latifabad, Hyderabad. To resolve issues related to deductions, a plan was in place to open bank accounts for each deserving woman, allowing them to withdraw their money directly, and a pilot project for this initiative will be launched soon.
