Follow WOWNEWS 24x7 on:
Athena Global Technologies Ltd has finalized a significant commercial lease agreement with FedEx Express, marking a strategic move in its real estate portfolio. The company has leased out 125,048.98 square feet of space, with the annual rent set at Rs 87 million.
Key developments from the announcement:
- The leased property spans over 125,000 square feet, indicating a large-scale logistics or operational setup
- Annual rental income of Rs 87 million adds a stable revenue stream to Athena’s balance sheet
- The deal reflects Athena’s growing presence in real estate alongside its core technology services
Strategic Implications and Market Context
This lease agreement aligns with Athena’s dual focus on IT services and property monetization. The company has been actively leveraging its SEZ assets to generate recurring income, and this FedEx deal reinforces its ability to attract marquee tenants.
Additional insights:
- FedEx’s choice of Athena’s property suggests confidence in infrastructure quality and location viability
- The deal may enhance Athena’s valuation metrics, especially in terms of asset utilization and rental yield
- It also signals broader demand for Grade-A commercial space from logistics and e-commerce players
With the real estate segment gaining traction, Athena’s diversified business model could offer resilience amid sectoral headwinds in IT consulting. The FedEx lease stands out as a timely boost to its financial and operational narrative.
Sources: Reuters, Bloomberg, Trendlyne, Value Research Online, AthenaGT.com, Economic Times, Business Standard, Hindu BusinessLine
Follow WOWNEWS 24x7 on:
Copyright 2024 WOWNEWS 24x7. All rights reserved. The WOWNEWS 24x7 is not responsible for the content of external sites. Read about our approach to external linking.
Powered By Just Imagine
