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Applied Materials has taken up more than 8 lakh sq ft of office space in Whitefield, Bengaluru, by signing a 10-year lease valued at INR 855 crore. The office is located in ITPB-Endeavour and spans the ground plus 15 upper floors. The monthly rent is INR 5.97 crore, with rent set at INR 74 per sq ft and scheduled to increase by 15% every three years. A security deposit of INR 35.8 crore has also been paid. The agreement includes a firm option to lease an extra 3 lakh sq ft in Tower 8, which is under construction.
Applied Materials, the US-based semiconductor equipment manufacturer, has leased more than 8 lakh sq ft of office space in the ITPB-Endeavour building in Whitefield, Bengaluru. The lease agreement has been signed for 10 years at a total value of INR 855 crore. As part of the deal, the company will pay a monthly rent of around INR 5.97 crore, with the rental rate fixed at INR 74 per sq ft. The lease terms specify a 15% escalation every three years, along with a security deposit of INR 35.8 crore. Advertisement
The leased premises cover the ground floor and 15 upper floors of the ITPB-Endeavour (MTB 6) tower, which is part of the International Tech Park Bangalore. The arrangement allows Applied Materials to expand its operational base significantly in the city. In addition, the agreement includes a hard option to lease an additional 3 lakh sq ft in Tower 8 of the same campus. Tower 8 is still under construction and is expected to be completed by the end of 2027, giving the company room to scale up further in the coming years.
This expansion adds to Applied Materials' earlier moves in Bengaluru's Whitefield micro-market. In 2022, the company had purchased about 2.6 lakh sq ft of built-up space in EPIP Phase II for INR 338 crore. That investment gave it a stronger base in Whitefield, spread across five office blocks. With the new lease, Applied Materials is consolidating its presence by combining both owned and leased facilities in one of the city's most established IT hubs.
The Whitefield area, where ITPB-Endeavour is located, has been a long-standing centre for technology and business parks. It continues to attract multinational companies due to its large campuses and infrastructure support. Applied Materials' latest deal reflects not only its operational growth but also its confidence in Bengaluru as a long-term base for advanced research and business operations.
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