Summary:
Nearly 90% of the building is occupied and now we have a small portion to let out,” Rao said.When asked whether Air India will be able to retain the Marine Drive tower after disinvestment, a senior Air India official said nobody had any idea. The national carrier also retains the 21st, 22nd, and 23rd floors.According to the real estate brokers, the rent-als in the Air India building could be around Rs 350 to Rs 400 per sq ft, which means a 10,000 sq ft space will earn Air India around Rs 35 lakh a month. It earns the airline Rs 100 crore. It is still staying afloat on over Rs 30,000-crore bailout package extended by the Manmohan Singh government in 2012.Acknowledging the Marine Drive tower’s contribution in keeping the national carrier afloat, Air India’s chief managing director, Pradeep Singh Kharola, said: “Nearly 17 floors are on rent. “The rentals from the Mumbai building help us generate revenue of Rs 100 crore per annum..