Software major Salesforce.com Inc. has taken up about 700,000 sq ft of office space in Hyderabad on lease, according to a person aware of the deal, making the city its biggest hub in India and one of its largest engineering and customer service centres globally.
“The lease has a lock-in period of 3 years and commands a rent of Rs 71 per sq ft. The deal was registered earlier this month,” mentioned a document shared by Propstack.
Salesforce did not respond to an email query sent by ET.
After doubling its India headcount to about5,000 over the last 18 months, Salesforce.com plans to add another 1,500 by February 1—the start of its next fiscal year–for sales in India and also for global engineering and support services.
India is home to some of Salesforce’s best technology talent, and is the only country outside of the US where the company has set up a centre of excellence.
Hyderabad’s real estate market has proven to be extremely resilient over the last year. The city’s investment-grade office stock has doubled from 2016 – crossing over 90 million sq ft at the end of Q3 2021. Continuing the momentum, the city is expected to add about 30-35 million sq ft of investment-grade business parks over the next three years.
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