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Eternal (Zomato) Secures 84,157 Sq Ft Office in Andheri’s R Square for ₹85 Crore
In a significant development that highlights Mumbai’s Andheri as a thriving commercial hub, Eternal Ltd, formerly known as Zomato, has signed a lease for 84,157 square feet of premium office space in the prestigious R Square building.
This lease, valued at ₹85 crore over five years, marks a strategic expansion for the company as it continues to evolve beyond its original food delivery roots. The agreement was made with Histyle Retail Pvt Ltd, a subsidiary of Runwal Realty, one of Mumbai’s prominent real estate developers, according to property registration documents accessed by CRE Matrix.
The leased space is spread across six units on the 7th floor of R Square, a modern commercial complex known for its Grade A office infrastructure and excellent connectivity. The lease agreement includes a three-year lock-in period and officially commences on May 1, 2025. For the first three years, Eternal will pay a fixed monthly rent of ₹1.34 crore, which will increase to ₹1.54 crore for the remaining two years. Additionally, the company has provided a security deposit of ₹8.07 crore. The commercial space also includes 57 dedicated car parking slots, a valuable asset in Mumbai’s crowded business districts, enhancing the convenience for employees and visitors alike. The lease was formally registered on May 9, 2025, cementing Eternal’s commitment to establishing a strong presence in this rapidly growing business district.
Andheri: Mumbai’s Emerging Business Powerhouse
Andheri’s rise as a preferred destination for office space is no coincidence. The suburb benefits from excellent connectivity, including metro lines, proximity to the Mumbai airport, and major highways, making it accessible for both employees and clients. Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix and IndexTap.com, emphasizes the multifaceted appeal of Andheri: “Andheri in Mumbai is a growing office market considering factors like annual leasing activity, new housing developments, metro, airport and highway connectivity, hospitality, and everything in between. Hence, many established brands are now focusing towards setting up their base in Andheri.” This holistic development has made Andheri a magnet for corporate offices, startups, and multinational companies seeking modern infrastructure combined with strategic location advantages.
Rebranding and Growth: From Zomato to Eternal
The lease deal comes on the heels of Eternal’s rebranding from Zomato, announced in February 2025. Deepinder Goyal, the company’s founder, shared that the rebranding reflects the company’s broader ambitions beyond food delivery, with Blinkit playing a key role in its future growth. “We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future,” Goyal explained. This strategic shift signals Eternal’s evolution into a diversified technology and delivery ecosystem, with the new office space in Andheri serving as a physical manifestation of this transformation.
HDFC Bank’s Massive Lease in the Same Building
Eternal’s move is part of a larger trend in Andheri’s commercial real estate market. Earlier in January 2025, HDFC Bank leased an expansive 2.72 lakh square feet of office space in the same R Square building for an annual rent exceeding ₹77 crore. The bank’s lease spans multiple floors, including the ground, first, second, third, fourth, fifth, and sixth floors, highlighting the building’s capacity to accommodate large-scale corporate tenants. This long-term lease, set for 10 years, further underscores R Square’s status as a premier business address in Mumbai.
The Future of Andheri’s Office Market
The combined presence of major tenants like Eternal and HDFC Bank in R Square illustrates the growing confidence in Andheri as a commercial destination. The suburb’s blend of connectivity, infrastructure, and lifestyle amenities continues to attract blue-chip companies and startups alike. With ongoing developments in transportation and residential projects, Andheri is poised to become one of Mumbai’s most sought-after office markets in the coming years, offering businesses a compelling alternative to traditional commercial hubs.
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Navi Mumbai 400710, India - +91 22 6911 1800
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