Executive Centre India leases 114,950 sq ft at Worldmark for ₹309 cr

The flex workspace operator will pay rent for a chargeable area of 114,950 sq ft at Worldmark 6 in Delhi's Aerocity, with a 15 per cent escalation every three years

Flex workspace operator Executive Centre India has leased nearly 115,000 square feet of office space in Delhi’s Worldmark complex, owned by Bharti Real Estate, the realty arm of Bharti Enterprises, which also includes Bharti Airtel.

 

According to lease documents accessed by Propstack, the deal will involve a total rental outlay of ₹309 crore over a nine-year tenure.

 

The company will pay rent for a chargeable area of 114,950 square feet, putting the monthly rent at ₹2.47 crore. Executive Centre has already paid a deposit of ₹14.83 crore as part of the fresh lease, which commenced in March 2026.

 

The company will take space on the seventh floor of Worldmark 6. According to the documents, the leased space will see a 15 per cent rent escalation every three years.

 

Worldmark is Bharti Real Estate’s commercial real estate campus in New Delhi’s Aerocity, spanning 20 million square feet (msf).

 

The deal with Executive Centre comes at a time when Bharti Real Estate is expected to complete the second phase of the Worldmark complex, which includes Worldmark 6, by 2027.

 

Last month, Hero MotoCorp signed a fresh lease for 231,109 square feet of space for a tenure of nine years in Worldmark 6, with an estimated total rental outlay of ₹593.8 crore.

 

Global co-working space provider WeWork had also leased 113,976 square feet of office space in the same building for a tenure of 10 years, with a total rental outlay of ₹328.5 crore.

 

According to a report by real estate consultancy Knight Frank India, office absorption in Tier-I cities reached 40 msf in the January-June period of 2026 due to high leasing activity by global capability centres (GCCs), technology firms, and domestic companies.

 

Bharti Real Estate’s managing director (MD) and chief executive officer (CEO) had earlier told Business Standard that while there is strong demand for Grade A-plus office space in India, the biggest challenge remains the limited availability of premium office real estate.

 

“There are very few developers in this segment because here you need corporations with deep pockets. A rental or leasing model requires you to invest your entire corpus in advance, years before you actually start getting your money back in terms of revenue,” he added.

 

Developments such as Worldmark, he said, have piqued the interest of three types of organisations: those planning to enter India, those moving to premium locations from regional centres, and government as well as semi-government institutions.

 

He added that Bharti Realty is in a sweet spot in terms of location, offerings, and competition.

 

“We are currently touching a leasing rate of ₹270 per square foot, and are confident of reaching ₹300 per square foot soon,” he added.

 

According to Propstack, while the Executive Centre and Hero MotoCorp leases have been worked out at monthly rental rates of ₹215 per square foot, WeWork will be paying a monthly rental rate of ₹210 per square foot.