Tata Digital is shifting its headquarters from Fort House in South Mumbai to Lower Parel, says a report by Moneycontrol. The company’s current headquarters, located in a six-floor office in Fort House of Fort Area, will be shifted to One International Centre in Lower Parel.
As per the report, the headquarters of Tata Digital, which manages the online shopping business of the Tata group, such as Tata Neu, 1 mg, big and Big Basket, will be shifted to the new address by the end of July.
Tata Digital’s headquarters are being shifted to a smaller 4-story office, which is reportedly expected to save Rs 2 crore each month in rent for the company. At present, the company pays about Rs 3 crore per month for the rent of its current office. The new office will cost about Rs 1 crore per month in rent.
Earlier, last year, Tata Digital had renewed the lease for its Fort House office for a period of three years. The lease agreement is valid up to April 2027. However, the deadlock period of the lease ended last month. The compilation of the deadlock period of one year gives Tata Digital the freedom to vacate the place without paying the penalty.
The Fort House is located near the Bombay House, the headquarters of the Tata Group. The building is owned by a charitable trust of the Dawoodi Bohra Community. Earlier, the building was owned by the Videocon group and housed its headquarters as well.
Currently, Tata Digital’s Mumbai office has about 800 employees, however, the company is flexible on the relocation of employees to offices in other cities like Bengaluru. According to the report, Tata Digital has given the employees working in the option to relocate to the Bengaluru office, and many employees in tech have opted for relocation.