NESCO provides 6 lakh sqft office space in Mumbai to various firms.

The diversified business Nesco Ltd has given companies like HERE Technologies and IndiaFirst Life Insurance with over 6 lakh sqft prime offices in Mumbai. Nesco Ltd has built ‘Nesco Tower-4’ which comprises one million sq ft of leasable area in Goregaon East, Mumbai, with an investment of about Rs 600 crores, except land cost. Nesco Ltd is into real estate, exhibition centre, food and beverages and engineering businesses.

“We’ve leased seven companies in the Nesco Tower 4 with over 6 lakh sqft of office space. The JLL Indian real estate consultant helped us in lease operations,” said Krishna Patel, Managing Director of Nesco. In Nesco I, II and III towers, 8 lakh sq ft have already been completed and leased.

When asked about the rent, Patel said that the total expected rent in the 1.8 million sq ft would amount Rs 325 crore per annum, once fully leased. Patel said in this 60-acre project the company will build more business towers.

JLL India, the biggest real estate consulting and professional services company in the country, facilitated leases for the HERE Technologies, IndiaFirst Life Insurance, a joint venture with the Baroda Bank, Andhra Bank and Carmel Point Investments India Pvt Ltd and a major global co-working service provider including other marquee names.

Demand for quality Grade A office spaces is immense, said Patel.

“The landlord representative team of JLL facilitated the management of Nesco Tower 4 in the correct mix of tenants and our cross-functional team has been able to link everyone involved with a common goal of effective use of the available office space,” said Ramesh Nair, CEO & Country Head, JLL India.