Zomato's Parent Company Eternal Ltd Leases Seven Floors in JB Nagar, Andheri East, Mumbai Signalling Major Expansion

Mumbai Sees a Landmark Office Lease by Zomato’s Parent Eternal Ltd, the recently renamed holding company behind Zomato and quick-commerce platform Blinkit, has made a significant move by leasing close to 100,000 sq ft of premium office space in Mumbai’s Andheri East suburb. The company secured the space through a long-term lease exceeding five years, spanning seven floors of the prestigious R Square commercial tower located in the coveted JB Nagar locality.

Strategic Lease Terms Reflect Commitment

Eternal Ltd agreed to a monthly rental starting at Rs 1.34 crore - translating to Rs 160 per square foot - with a contractual rental escalation of 15% over the first 36 months. A substantial security deposit exceeding Rs 8.07 crore further underscores the company’s investment in its growing Mumbai presence.

According to real estate data analytics firm CRE Matrix, the lease includes a lock-in period of 60 months for the licensor and 36 months for the licensee. The lease commenced on May 1, 2025, after registration was completed on May 9, with a 150-day fit-out period before rental obligations begin.

Expansion Underlines Eternal Ltd’s Multi-Brand Evolution

Formerly known as Zomato Ltd, Eternal Ltd now operates as the parent for multiple entities, including Zomato, Blinkit, Hyperpure, and the live events platform District. This leasing deal is among the larger recent transactions in Mumbai’s suburban office market, reflecting Eternal Ltd’s expanding operational footprint as it transitions into a diversified multi-brand holding company.

Office Space Demand Fueled by Both Global and Domestic Players

While Global Capability Centers (GCCs) remain prominent drivers of office space demand in India, domestic companies - particularly in financial services, infrastructure, manufacturing, and new-age technology sectors - are also actively expanding their footprints. These organizations continue to lease space in strategically located business districts like JB Nagar, benefiting from excellent connectivity and infrastructure. The combined demand from both global and domestic tenants sustains robust leasing activity across Mumbai’s key micro-markets.

News Disclaimer: This article reflects information current as of May 2025. Figures and details are based on official disclosures and are subject to change.