In a significant move signaling its commitment to expanding operations in India, Bosch Global Software Technologies has secured a sprawling 6.91 lakh square feet of office space in Bengaluru. The lease, disclosed through a registration document accessed by ET, solidifies Bosch's foothold in the bustling tech hub.
The leased property is strategically situated at Life Science Park in Electronic City, a prime location known for its vibrant ecosystem and connectivity. Bosch has inked a binding agreement for a period of five years, with provisions for a potential extension for another five years, showcasing its long-term vision for growth in the region.
Under the terms of the agreement, Bosch will be paying a rental rate of approximately ₹58 per square foot. The new facility, slated to go live by the end of 2024, is poised to accommodate approximately 8,000 employees and will serve as the hub for the Knowledge Process Outsourcing (KPO) operations under Robert Bosch.
This latest move comes on the heels of Bosch's previous expansion endeavors, including a significant office space lease of around 250,000 square feet in Hyderabad back in 2022. Such strategic expansions underscore Bosch's commitment to bolstering its presence and capabilities in key Indian cities.
Bosch Global Software Technologies, a pivotal player in the global automotive industry, boasts the largest development center outside Germany, specializing in end-to-end engineering and technology solutions. With approximately 31,000 employees as of last year, Bosch continues to play a pivotal role in driving innovation and excellence.
Despite repeated attempts, Bosch remained unavailable for comment on the matter.
Industry analysts note a robust uptick in office space leasing activities in Bengaluru, with a notable 40% year-on-year increase, reaching 4.7 million square feet in the first quarter of 2024 alone. This surge reflects the city's continued appeal as a premier destination for businesses and tech giants alike, reaffirming its status as India's Silicon Valley.
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