One of the most lucrative tenants in Blackstone’s new office complex in Bangalore, the Indian Silicon Valley, will be Flipkart, India’s premier ecommerce company, which has just signed a letter of intent for 1.5m square feet to house its new campus.
The contract is a sign India’s mobile internet is acquiring scale and contributing to economic growth. “The number of start-ups is mind-boggling,” says Tuhin Parikh, who runs property investment for the big private equity firm.
Meanwhile, 38 per cent of the newly minted graduates from the Indian School of Business in Hyderabad have joined tech and internet companies, “including Amazon, Facebook, Flipkart, Google, Infosys, Microsoft, etc.”, the school’s interim placement report notes.
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