Execution of Letter of Intent (LOI) for the New Co-working Centre)
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Awaiting price reaction for this filing.
Nukleus Office Solutions has signed a Letter of Intent with Prestige Estates Projects Limited to lease a 20,246 sq ft premium fitted-out commercial space at Prestige Blue Chip Software Park, Adugodi, Bengaluru, for a new co-working centre. The lease is for 5 years, starting July 4, 2025, with a 120-day rent-free period and rent commencement from November 4, 2025. The expansion is aimed at growing the company's co-working and managed office footprint in key metro markets. This is part of Nukleus's stated strategy to strengthen its presence in India's flexible workspace segment.
Positive signal of business expansion in a high-growth metro market, though this remains an LOI rather than a binding agreement, so execution and ramp-up risks exist. Shareholders should watch for future disclosures on centre utilization and revenue contribution.