Eternal Ltd (formerly Zomato) Leases 84,157 Sq Ft Office Space in Mumbai’s Andheri for ₹85 Crore
Eternal Ltd, the company formerly known as Zomato, has leased a significant 84,157 square feet of commercial office space in Mumbai’s Andheri suburb. The transaction, valued at ₹85 crore over a five-year period, signals the company's intent to consolidate operations and expand its footprint in one of Mumbai’s fastest-growing commercial hubs.
According to property registration documents sourced from CRE Matrix, the commercial space was leased from Histyle Retail Pvt Ltd, a subsidiary of Runwal Realty. The deal includes six office units located on the 7th floor of R Square, a premium commercial development in Andheri.
The lease agreement was formalized with a commencement date of May 1, 2025, and includes a lock-in period of three years. For the first three years of the agreement, Eternal Ltd will pay a monthly rent of ₹1.34 crore, which is set to increase to ₹1.54 crore for the remaining two years. A security deposit of ₹8.07 crore was also part of the transaction. The lease was officially registered on May 9, 2025.
As per the terms of the lease, the deal includes 57 dedicated car parking spaces, enhancing the convenience and functionality of the new office space. The decision to move into R Square aligns with a broader trend among corporate tenants increasingly focusing on Andheri as a preferred location due to its infrastructure advantages.
Andheri, located in the western suburbs of Mumbai, has evolved into a high-demand office market. The area offers strong connectivity through the Mumbai Metro, the Western Express Highway, and proximity to the Chhatrapati Shivaji Maharaj International Airport. It also benefits from the presence of a well-developed residential base, hospitality options, and social infrastructure, which make it appealing to both corporates and their employees.
Real estate market experts point out that Andheri has witnessed consistent leasing activity, which has been bolstered by ongoing residential and commercial developments. As more Grade-A office spaces become available in the locality, prominent brands across sectors—ranging from finance to technology—have been shifting or expanding their operations here.
The leasing deal by Eternal Ltd comes on the heels of its rebranding from Zomato earlier this year. In February 2025, the company officially announced its name change to Eternal, reflecting its diversification beyond food delivery. The rebranding also marked a strategic pivot as the company emphasized other verticals such as Blinkit, which has become a key revenue driver.
Interestingly, this is not the first high-value commercial transaction in the R Square building this year. In January 2025, HDFC Bank leased approximately 2.72 lakh square feet of office space within the same complex. That deal, also facilitated by Runwal Realty's Histyle Retail Pvt Ltd, was signed for an annual rent exceeding ₹77 crore. The HDFC Bank lease covered units across the ground to sixth floors and was executed through three separate agreements.
The presence of large institutional tenants such as Eternal Ltd and HDFC Bank within the same commercial tower highlights R Square’s growing stature as a premium corporate address in Mumbai. The Runwal Group, through its commercial arm, has been actively developing office spaces that cater to the evolving demands of modern businesses.