Sunteck Realty lease out two lakh sq ft to Upgrad in Mumbai

NEW DELHI: Sunteck Realty (SRL) has leased out approximately two lakh sq ft of built-up area
in Sunteck BKC51, Mumbai to Upgrad Education for a lease term of 29 years, the company said
in a BSE filing.
Upgrad will be paying starting rentals of close to Rs 300 per sq ft. per month on carpet area
basis. The total revenue generated from the project will amount close to Rs 2,000 crore over the
entire lease tenure, the company said in the regulatory filing.
Kamal Khetan, chairman of the company said, “It is an exciting opportunity to utilize a truly
sustainable and unique space for the needs of next generation aspirants.”

The project, situated off Bandra Kurla Complex (BKC), is at near completion stage and the
possession is to be completed by June 2023. Upgrad is expected to initiate operations soon in
the near completion commercial space.
JLL provided advisory for this commercial transaction.