Nykaa rents a 55,146-square-foot office in Mumbai for Rs 70 lakh per month

According to records obtained by real estate data analytics company CRE Matrix, Nykaa—the well-known name for Falguni Nayar-promoted FSN E-Commerce Ventures—has leased two office premises totaling 55,146 square feet in Lower Parel in Mumbai for almost Rs 70 lakh per month for five years.

The Marathon Realty Private Limited has leased these floors.

Marathon Chambers A, an IT/ITeS Park in Lower Parel, has leased the second and third floors for Rs 41.15 lakh per month. It has received a security deposit of Rs. 1.02 crore. 23,927 square feet is the total area leased. According to the Leave and Licence agreement paperwork, it has 16 parking spaces.

The contract was agreed upon for a term of 60 months and includes a condition for a 15 percent rent increase after 36 months.

On August 25, the two documents were registered.

Additionally, the business has leased from Marathon Realty Private Limited the 27th floor situated in the A Wing of the IT/ITES Park, Marathon Futurex at Mafatlal Mill Compound, Lower Parel.

10,539 square feet is the entire area.

The introductory monthly rent is Rs. 27.82 lakh. The documents indicated that there are eight parking spaces on this floor.

Both transactions have a total carpet size of 34,467 square feet, and the billable area is 55,146 square feet.

Neither Marathon Realty Private Limited nor the legal counsel for Nykaa responded.

A recent IPO by Nykaa Retail brought in about Rs 5,350 crore. The IPO was a tremendous success and received 82 subscriptions. According to Bappaditya Basu, Chief Business Officer of ANAROCK Commercial, "the company's funds raised were intended at covering capital expenditure requirements and expanding operations in the emerging areas."

Since a few years ago, India's e-commerce market has been flourishing, and the recent lockdowns brought on by the pandemic boosted demand for online purchasing. Businesses like Nykaa Retail stand to gain from this, and he noted that office spaces are very essential to support increasing operations and meet the rising demand.

Basu remarked in response to Nykaa Retail's most recent lease at Lower Parel that the monthly rental for the arrangement comes to about Rs 125 per square foot. "This seems like a great offer, and considering the location, it might even be somewhat discounted. One of Mumbai's most popular areas for offices is Lower Parel, which offers convenient access by road and train for commuters "Added he.

The business rented 27,000 square feet of office space in Prabhadevi, south Mumbai, in February of this year for at least Rs 65 lakh per month for five years. Nykaa e-Retail rented Unit A on the sixth level of the Cynergy IT Park in Prabhadevi's Appasaheb Marathe Marg. The initial three years' rent was Rs 65,92,104 per month, and the fourth and fifth years' cost will be Rs 75,80,920 per month.