Ola Group entities have renewed their office leases at Prestige RMZ Star Tech in Koramangala, Bengaluru, covering roughly 4.27 lakh sq ft across two separate agreements. The combined rental commitment runs to around ₹281 crore over the five-year lease tenure, according to property registration documents accessed by Propstack. The renewals confirm Ola's continued presence in one of the city's most established office micro-markets.
Two Agreements, One Building
Ola Electric Technologies Pvt. Ltd. renewed its lease with RMZ City Estates Pvt. Ltd. for 1.68 lakh sq ft spread across the 4th, 5th and 6th floors of the building. Registered on 8 May 2026 and effective from 16 October 2025, the agreement carries a monthly rent of ₹1.74 crore at ₹103.5 per sq ft, along with a security deposit of ₹4.54 crore and a 15% rent escalation built in after three years.
Separately, ANI Technologies Pvt Ltd, the parent entity behind the ride-hailing platform, renewed its lease for 2.59 lakh sq ft across the ground, first, second, third, seventh and eighth floors of the same building. This agreement also commenced on 16 October 2025 for a five-year term, with a monthly rent of around ₹2.68 crore, a security deposit of ₹11.54 crore and the same 15% escalation clause after three years.
- Ola Electric: 1.68 lakh sq ft, ₹1.74 crore monthly rent
- ANI Technologies: 2.59 lakh sq ft, ₹2.68 crore monthly rent
- Combined monthly rental outgo: nearly ₹4.42 crore
- Rental rate held steady at ₹103.5 per sq ft across both renewals
A Steady Rental Climb Since 2021
The office space was originally leased by Ola Group entities in January 2021 at ₹90 per sq ft per month. That rate climbed to ₹103.5 per sq ft by 2023, and both new agreements have been executed at this same rate, suggesting landlords held firm on pricing through the renewal negotiations. Queries sent to Ola and RMZ City Estates had not been answered at the time of reporting.
Why Koramangala Continues to Draw Occupiers
Koramangala remains one of Bengaluru's most sought-after office micro-markets, home to a dense mix of technology companies, startups and corporate occupiers. Its established social infrastructure, strategic location and proximity to other key business districts keep it firmly on the radar for companies weighing lease renewals over relocation. Ola's decision to stay put, rather than shift premises, reflects the pull these factors continue to hold even as rental rates have risen steadily over the past five years.
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