Announcement under Regulation 30 (LODR).
MCCHRLS-B · price
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Awaiting price reaction for this filing.
Mac Charles India Ltd has signed and registered a 10-year lease agreement with Apple India Pvt Ltd for its 'Embassy Zenith' project located on Sankey Road, opposite Bangalore Golf Club in Bengaluru. The initial lease covers 2,68,737 sq ft, and the company is also in the process of finalizing an additional 1,21,203 sq ft (combined potential of ~3.9 lakh sq ft). The deal is in the ordinary course of business and is not a related party transaction — promoters and group companies have no interest in the lessee.
A marquee global tenant like Apple India locking in a 10-year lease provides strong long-term revenue visibility and de-risks cash flows for the company. This is a positive signal for shareholders given the scale and quality of the counterparty.