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Axis Asset Management Company, the mutual fund investment arm of Axis Bank, has secured a lease for two floors in Macrotech Developers' commercial tower located in Mumbai's vibrant Lower Parel district. This strategic move marks the establishment of Axis AMC's future head office, signalling its ambitious growth plans and organizational consolidation. By transitioning from its current headquarters at Wadia International Centre on Worli's Budhkar Marg, Axis AMC aims to enhance its operational capabilities and provide a more centralized working environment for its dedicated team.
Sources reveal that Axis AMC has secured over 63,000 square feet of premium office space in 'One Lodha Place' for a duration of nine years, affirming its commitment to this strategic location. The leased floors, situated on the 22nd and 23rd levels of the impressive 39-story tower, will be thoughtfully designed to accommodate key functions critical to Axis AMC's operations. In accordance with the agreement, Axis AMC will contribute a monthly rent of Rs 1.2 crore. The handover of the premises has already taken place, allowing Axis AMC to commence the fit-out work necessary to create a workspace that embodies its vision and values.
Insiders familiar with the matter reveal that Axis AMC has furnished a security deposit equivalent to six months' rent, emphasizing their commitment to maintaining a mutually beneficial relationship. The agreement also includes a provision for rental escalation, with rates increasing by 15 percent every three years, providing a fair reflection of market dynamics. Over the course of the lease tenure, Axis AMC is expected to contribute approximately Rs 150 crore in rental payments, ensuring a sustainable and long-term partnership with Macrotech Developers.
As part of this arrangement, the upper floors of the tower will be reserved for Lodha, the property developer itself, as it prepares to establish its own prestigious head office. Moreover, Axis AMC will have exclusive access to approximately 60 designated car parking slots within the commercial tower, facilitating seamless mobility for its employees and visitors. This strategic move not only reinforces Axis AMC's commitment to delivering exceptional financial services but also reflects its dedication to providing a conducive and inspiring workspace that fosters innovation and collaboration among its team members.
Axis Asset Management Company Ltd., a subsidiary of Axis Bank, a prominent private bank in India, operates as the mutual fund investment division. With Axis Bank holding a majority share of 74.99 percent and Schroder Singapore Holdings Private Limited holding the remaining 24 percent, the company was established in October 2009. Three core principles guide Axis MF AMC: a customer-centric approach, long-term wealth creation, and building lasting relationships.
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