Netflix takes 1.5 lakh sq ft office space in BKC on 9-year lease
US media service provider looking to expand business in country, has several original series for Indian audience in the pipeline
Published - 28-December-2018
Netflix Inc has taken 1.5 lakh sq ft office space in Bandra Kurla Complex on lease for its India head office.
The US media service provider has taken the space spread over two floors in Godrej BKC from promoters of D'décor Home Fabrics. The video streaming company will be paying an annual rent of Rs 47.70 crore (Rs 265 per sqft).
The lease has been fixed for a tenure of nine years and a clause covering 15% escalation in rent at the end of three years has been included in the contract.
Netflix has over 40 employees in India and has an office in BKC’s North Avenue, Maker Maxity. It has been looking for expanding its business in India and has released original series like Sacred Games and Ghoul. It will be releasing ‘Selection Day’ on Friday and has over 12 more original series and films in the pipeline keeping in mind the Indian audience.