The new commercial office space is expected to be utilised as the centre for its new business vertical of home furnishing. The company has leased the space for a total tenure of nine years including a lock-in period of five years.
The agreement involves a clause to raise rentals 15 percent after initial three years and five percent every year after that.
The company announced Rs 2,100 crore of phased investment to set up a new plant to produce vinyl acetate ethylene emulsion (VAE) and vinyl acetate monomer (VAM) in the country.
The company announced another Rs 550 crore of investment to set up a white cement plant in the UAE in partnership with two local firms there.