Aug 06, 2024 12:31 PM IST
At present, the three-year-old company has business verticals in Mumbai and tech and product teams in Bengaluru.
Quick commerce startup Zepto is preparing to move its base from Mumbai to Bengaluru, Monecontrol reported. The company will move from Powai in Mumbai to Sarjapur in Bengaluru. A Zepto employee told the outlet, “While the company has been flexible for now, we have all been mandated to relocate to Bengaluru by the end of November or early December.”
A person aware of the development told Moneycontrol that Zepto will bear relocation expenses for all employees willing to move to Bengaluru. The entire process is estimated to cost the company around ₹3-4 crore as a one time expense and “the relocation cost will be offset because Zepto is estimated to save around ₹40-50 lakh in rent per month because of its move from Mumbai to Bengaluru.”
At present, the three-year-old company has business verticals in Mumbai and tech and product teams in Bengaluru. With the move, Zepto will bring all its 1,700-1,800 employees in Bengaluru where it already has an office. In Mumbai, Zepto has a 80,000-90,000 square feet property while in Bengaluru the company has a 30,000-40,000 square feet space. Now, it will give up both these buildings and move into a larger 1.5 lakh square-feet property in Bengaluru, ther report claimed.
The report also claimed that Zepto is already in advanced stages to finalise a property of that size in and around Sarjapur, HSR or Bellandur where several large multinational companies and startups are based. Zepto’s rivals- Swiggy and Flipkart- also have offices in the same neighbourhood.
A source said as per the report, “Of the total 1,000 employees in Mumbai, around 90 percent are already willing to move and the remaining are in discussions to relocate. If all goes to plan, just 5-7 percent of the 1,000 will be unable to move to Bengaluru.”