"The transaction was concluded recently and the agreement was registered two weeks ago," said one of the persons mentioned above.The company will be paying rent of nearly Rs 63 per sq ft a month with 5% escalation per year. In Mumbai and surrounding areas alone, the company has 19 offices, including its headquarters, and over 10 delivery centres in Mumbai and Thane. For the year ended March 2017, the company generated consolidated total income of Rs 122,187 crore.Despite all the talks about slower growth in software services exports, several IT companies have been leasing spaces across the country. Recently, Accenture India and digital services firm Atos Origin leased two lakh sq ft of commercial space each at K Raheja Corp's IT park Gigaplex in Navi Mumbai. The software industry body NASSCOM had also trimmed the sector's guidance for growth to 8-10% in 2016-17 from earlier of 10-12%.

Source: Economic Times December 18, 2017 19:07 UTC