Business and employment-focused social media platform Linkedin has renewed the lease for nearly 18,000 sq ft office space in a commercial project Maker Maxity in Mumbai’s business district Bandra-Kurla Complex (BKC) for a long-term tenure of five years.
The company has renewed the lease of a total six office units on the fourth floor in one of the towers of the complex from separate owners at record rentals of Rs 565 per sq ft a month, taking the cumulative lease payment to over Rs 1 crore every month.
The tenure of these six separate renewed leases will commence from August 2024, showed the documents accessed through Propstack. The company will be paying deposits worth Rs 10 crore in total for these leases.
ET’s email query to Linkedin remained unanswered until the time of going to press.
Apart from Mumbai, Linkedin has its offices in other key Indian cities including Bengaluru Gurgaon and New Delhi.
The professional network platform has over 950 million members across 200 countries and regions worldwide. Of this, over 110 million members are in India, which is its second largest member count after the US that has over 206 million members.
Linkedin has over 19,500 employees across 36 offices globally and its revenues surpassed $15 billion for the first time in the fourth quarter of 2022-23.
Published On Sep 28, 2023 at 09:01 AM IST
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