HP takes 4,50,000 sq ft office space on lease in Bengaluru

Hewlett Packard has taken 450,000 sq ft of office space on lease in Bengaluru, buttressing reports of a healthy growth in the office space leasing segment in the country.

“HP has signed the whole building and is expected to use it for its businesses like research and development and business process outsourcing,” said Nesara B S executive director at Concorde Group, a real estate developer.

The office space in Marathi Concorde Business Park is opposite technology giant Infosys ‘ campus in Electronic City. The new facility will be used by HP to house around 1,600 employee, people in the know said. The company has about 30,000 employees in India. “The property has been signed at Rs 38 per sq ft and we are expected to receive rental income of around Rs 20 crore annually,” said Nesara.