Occupancy · 04

Centre drill down

A centre open nine months and a centre open six years should never appear in the same average. Growth centres are shown against their own fill trajectory, not against portfolio occupancy.

Centres in scope

The full national portfolio

Growth centres

Open 24 months or less

Desks below target in growth centres

1,692

Carrying full lease and fit-out cost

Mature centre occupancy

85.4%

The number the ramp is diluting

All centres

Sorted by city, with ramp status separated

Centre	City	Micro-market	Desks	Occupancy	Months open	On notice	Committed in	Rate	NPS	Status
Embassy TechVillage	Bengaluru	CBD	2,400	87.7%	63	87	103	₹24,600	88	Mature · on target
RMZ Latitude	Bengaluru	Indiranagar	1,100	81.3%	60	52	56	₹24,100	73	Mature · below target
Prestige Central	Bengaluru	Koramangala	1,050	88.6%	39	42	42	₹21,200	74	Mature · on target
Vaishnavi Signature	Bengaluru	HSR Layout	1,150	91.7%	57	35	66	₹19,100	78	Mature · full
Cinnabar Hills	Bengaluru	Outer Ring Road	1,250	85.1%	22	38	112	₹20,400	87	Ramp · 0 mo to target
Infinix Palladium	Bengaluru	Sarjapur Road	1,250	87.3%	55	86	52	₹18,300	82	Mature · on target
Galaxy	Bengaluru	Whitefield	1,950	89.0%	70	69	169	₹17,500	84	Mature · on target
Salarpuria Symbiosis	Bengaluru	Hebbal	2,750	87.6%	71	139	94	₹20,600	77	Mature · on target
Embassy Golf Links	Bengaluru	Yeshwanthpur	2,250	85.9%	24	103	181	₹17,100	74	Ramp · 0 mo to target
Prestige Atlanta	Bengaluru	Electronic City	2,200	90.3%	68	129	134	₹14,900	82	Mature · full
Vaishnavi Tech Park	Bengaluru	CBD	1,750	91.5%	69	68	63	₹24,200	78	Mature · full
Koramangala 4th Block	Bengaluru	Indiranagar	1,950	90.4%	62	128	147	₹22,000	87	Mature · full
HSR 27th Main	Bengaluru	Koramangala	1,300	79.7%	21	82	121	₹20,300	72	Ramp · 2 mo to target
Brigade Rubix	Bengaluru	HSR Layout	1,600	91.5%	45	69	159	₹18,300	83	Mature · full
Electronic City Phase 1	Bengaluru	Outer Ring Road	1,750	85.9%	22	75	81	₹21,200	85	Ramp · 0 mo to target
Whitefield Junction	Bengaluru	Sarjapur Road	1,050	86.3%	34	62	47	₹18,600	88	Mature · on target
Embassy Manyata	Bengaluru	Whitefield	1,150	85.8%	74	74	42	₹17,500	88	Mature · on target
Bagmane Constellation	Bengaluru	Hebbal	1,000	84.5%	35	24	82	₹18,800	87	Mature · below target
Prestige Shantiniketan	Bengaluru	Yeshwanthpur	2,150	84.5%	59	57	158	₹17,300	82	Mature · below target
RMZ Ecoworld	Bengaluru	Electronic City	1,800	81.4%	50	117	73	₹16,600	88	Mature · below target
Umiya Business Bay	Bengaluru	CBD	2,400	86.0%	65	127	153	₹23,400	80	Mature · on target
Salarpuria Aura	Bengaluru	Indiranagar	2,250	77.9%	6	102	106	₹23,500	74	Ramp · 3 mo to target
Brigade Magnum	Bengaluru	Koramangala	1,750	87.4%	30	99	77	₹22,000	86	Mature · on target
Prestige Trade Tower	Bengaluru	HSR Layout	2,750	85.4%	46	185	122	₹19,200	84	Mature · on target
Karle Town Centre	Bengaluru	Outer Ring Road	1,550	86.4%	30	56	53	₹20,700	81	Mature · on target
Purva Summit	Bengaluru	Sarjapur Road	1,450	81.2%	25	100	95	₹17,700	78	Mature · below target
Divyasree Omega	Bengaluru	Whitefield	1,900	89.9%	48	115	175	₹17,700	88	Mature · on target
Mfar Greenheart	Bengaluru	Hebbal	1,200	87.1%	43	73	36	₹19,200	83	Mature · on target
Sobha Ivory	Bengaluru	Yeshwanthpur	1,900	84.4%	52	126	69	₹17,000	80	Mature · below target
Prestige Tech Platina	Bengaluru	Electronic City	2,600	78.7%	8	163	234	₹15,200	73	Ramp · 3 mo to target
Godrej Centre	Bengaluru	CBD	1,600	85.4%	64	89	102	₹25,400	81	Mature · on target
Nesco IT Park	Mumbai	Bandra Kurla Complex	1,950	82.7%	76	61	96	₹31,900	74	Mature · below target
Raheja Towers BKC	Mumbai	Lower Parel	1,500	79.7%	23	40	104	₹28,800	69	Ramp · 2 mo to target
One BKC	Mumbai	Andheri East	1,300	86.3%	68	27	50	₹25,800	70	Mature · on target
Peninsula Business Park	Mumbai	Powai	1,550	85.4%	25	49	83	₹22,600	81	Mature · on target
Kamala Mills	Mumbai	Goregaon	1,750	85.3%	31	79	139	₹21,400	83	Mature · on target
Chromium Powai	Mumbai	Navi Mumbai	2,200	88.7%	41	73	92	₹16,900	68	Mature · on target
Supreme Business Park	Mumbai	Bandra Kurla Complex	2,200	83.9%	9	79	114	₹34,000	70	Ramp · 1 mo to target
Marathon Futurex	Mumbai	Lower Parel	2,350	78.6%	43	79	174	₹30,900	67	Mature · below target
Vibgyor Towers	Mumbai	Andheri East	2,100	87.9%	70	106	195	₹25,600	75	Mature · on target
Andheri Solitaire	Mumbai	Powai	1,700	86.9%	72	88	166	₹22,200	71	Mature · on target
Vashi Central	Mumbai	Goregaon	1,000	79.8%	15	23	45	₹21,200	82	Ramp · 2 mo to target
Godrej Two	Mumbai	Navi Mumbai	1,800	80.1%	10	107	117	₹16,500	80	Ramp · 2 mo to target
Panchshil Business Park	Pune	Kharadi	2,100	83.7%	14	109	120	₹19,000	79	Ramp · 1 mo to target
EON Free Zone	Pune	Hinjawadi	2,450	84.9%	71	74	156	₹17,000	71	Mature · below target
Amar Tech Park	Pune	Baner	1,550	79.3%	20	45	67	₹19,000	84	Ramp · 3 mo to target
Baner Pentagon	Pune	Viman Nagar	2,200	87.9%	28	121	175	₹18,400	86	Mature · on target
Viman Nagar Skyline	Pune	Magarpatta	1,600	85.3%	49	70	90	₹19,200	84	Mature · on target
Magarpatta Cybercity	Pune	Kharadi	1,450	91.0%	53	40	136	₹20,300	83	Mature · full
Blue Ridge Hinjawadi	Pune	Hinjawadi	1,250	90.9%	37	32	62	₹17,800	76	Mature · full
Kalyani Nagar Court	Pune	Baner	1,200	80.9%	17	63	108	₹19,000	78	Ramp · 2 mo to target
Two Horizon Center	Gurugram	DLF Cyber City	2,700	85.5%	66	114	113	₹29,300	79	Mature · on target
Cyber City Building 9	Gurugram	Golf Course Road	1,450	75.9%	9	37	71	₹28,900	76	Ramp · 4 mo to target
Vatika Udyog Vihar	Gurugram	Golf Course Extension	2,550	83.7%	20	61	227	₹24,000	75	Ramp · 1 mo to target
Emaar Sohna Road	Gurugram	Udyog Vihar	1,500	84.9%	26	38	117	₹21,900	75	Mature · below target
Ambience Golf Course	Gurugram	Sohna Road	1,250	80.6%	45	36	44	₹20,500	71	Mature · below target
Global Business Park	Gurugram	DLF Cyber City	1,700	82.5%	75	86	127	₹30,600	67	Mature · below target
Trinity Sector 65	Gurugram	Golf Course Road	1,750	78.1%	27	46	158	₹28,300	71	Mature · below target
Worldmark Aerocity	Delhi	Aerocity	1,800	87.5%	48	40	178	₹31,500	81	Mature · on target
Eros Nehru Place	Delhi	Nehru Place	1,950	83.5%	42	51	153	₹25,900	73	Mature · below target
Statesman House	Delhi	Connaught Place	2,450	74.3%	23	113	95	₹31,500	66	Ramp · 4 mo to target
Select Citywalk Saket	Delhi	Okhla and Jasola	1,400	80.1%	10	61	91	₹21,200	69	Ramp · 2 mo to target
Advant Okhla	Delhi	Aerocity	1,450	87.3%	71	49	121	₹32,300	65	Mature · on target
Vega Jasola	Delhi	Nehru Place	1,050	81.1%	28	36	90	₹24,400	80	Mature · below target
Rajapushpa Summit	Hyderabad	HITEC City	2,400	84.2%	66	145	107	₹20,700	83	Mature · below target
Krishe Sapphire	Hyderabad	Gachibowli	1,900	87.7%	24	75	174	₹19,400	84	Ramp · 0 mo to target
Knowledge City Salarpuria	Hyderabad	Financial District	1,550	84.9%	11	74	93	₹19,300	74	Ramp · 1 mo to target
Trendset Banjara Hills	Hyderabad	Banjara Hills	2,100	82.9%	41	48	82	₹24,700	80	Mature · below target
Vasavi Gachibowli	Hyderabad	HITEC City	1,650	83.9%	56	91	51	₹23,000	88	Mature · below target
Berger Delhi One	Noida	Sector 62	1,550	75.9%	24	87	89	₹18,800	73	Ramp · 4 mo to target
Assotech Sector 62	Noida	Film City and Sector 16A	1,100	77.2%	14	49	46	₹18,700	75	Ramp · 3 mo to target
Film City Studio	Noida	Sector 142	2,000	77.6%	45	57	170	₹16,200	71	Mature · below target
Advant Sector 142	Noida	Sector 62	2,650	78.7%	21	110	167	₹17,500	70	Ramp · 3 mo to target
Olympia Cyberspace	Chennai	Guindy	1,500	74.4%	36	31	113	₹19,500	77	Mature · below target
Ramanujan IT City	Chennai	OMR Perungudi	1,450	84.0%	49	89	85	₹16,200	61	Mature · below target
Prince Nungambakkam	Chennai	Nungambakkam	1,350	79.7%	55	87	101	₹21,700	71	Mature · below target

A worked example

Sort by months open and the two problems separate

Sort this table by months open and the ramp problem separates itself from the performance problem. A centre fourteen months old sitting eight hundred basis points below target is on schedule. A centre six years old sitting at the same number is not, and the two are indistinguishable in any portfolio average. Every growth centre in the table carries desks at full lease, fit-out and community cost with no revenue against them, and the honest question is never why they are behind, it is whether the current fill rate is the fastest available given the unserved demand logged in the same micro-market.

Why ramp is separated

Arithmetic, not failure

Front-loaded expansion depresses the occupancy ratio by arithmetic, not by failure: desks enter the denominator on the day the centre opens and enter the numerator over the following two years. Blending them into one portfolio number makes a good quarter look flat and hides a genuinely underperforming mature centre behind a well-ramping new one. Two numbers, always reported separately, is the only honest way to read this.

Demo dataFigures on this screen are illustrative, from a deterministic model, for walkthrough purposes only.