Sopra Steria Signs ₹816 Cr Noida Lease | Cognizant Takes 6.45 Lakh Sq Ft in Chennai | Accenture Leases and Renews 5.84 Lakh Sq Ft in Airoli
This week’s FLEXO newsletter brings you the latest updates in India’s commercial real estate scene. Major occupiers are committing to substantial office footprints across Noida, Chennai and Navi Mumbai, reflecting continued demand for large-scale corporate workplaces. Financial institutions are also expanding in Mumbai’s BKC, while flexible workspace operator IndiQube is strengthening its development pipeline through a strategic investment. Let’s explore the full story in this week’s updates!
Sopra Steria Leases 4.74 Lakh Sq Ft in Noida for ₹816 Crore
Sopra Steria India has leased 4,74,150 sq ft of office space at Maconns Grand in Sector 132, Noida, under a 15-year agreement. The space spans the ground floor and 17 upper floors across Towers A and B. The lease carries an estimated total rental outlay of ₹816 crore over the tenure, with rent escalating by 10% every three years. The long-term commitment adds to Noida’s profile as a destination for large corporate office occupiers.
Cognizant Leases 6.45 Lakh Sq Ft at Chennai’s Embassy Splendid TechZone
Cognizant Technology Solutions India has leased 6,45,172 sq ft at Embassy Splendid TechZone in Pallavaram, Chennai, for a reported total rent of approximately ₹303 crore. The agreement commenced on September 10, 2026, and covers 10 floors at a monthly rate of ₹74 per sq ft. The registered lease specifies a five-year tenure, a security deposit of ₹28.64 crore and a 15% rent escalation every three years. The transaction adds another substantial technology-sector lease to Chennai’s office market.
Accenture Leases and Renews 5.84 Lakh Sq Ft Across Mindspace REIT’s Airoli Parks
Accenture has secured a combined 5.84 lakh sq ft of office space across Mindspace Business Parks REIT’s Airoli East and Airoli West campuses in Navi Mumbai. The transactions comprise 3.08 lakh sq ft of fresh leasing and expansion, alongside the renewal of 2.76 lakh sq ft. The agreements span 10 years, with monthly rentals of ₹70 per sq ft and annual rent escalation of 4.5%. The additional and renewed space is expected to accommodate around 10,000 people across operations, technology, GCC and back-office functions, taking Accenture’s footprint with Mindspace REIT in Navi Mumbai to nearly one million sq ft.
Sumitomo Mitsui Banking Corporation Leases Nearly 50,000 Sq Ft in BKC for ₹189 Crore
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has leased 49,820 sq ft of office space at Sumitomo C65 in Mumbai’s Bandra-Kurla Complex. The five-year agreement carries a reported total rental value of ₹189 crore, with a starting monthly rent of approximately ₹3.46 crore at ₹694 per sq ft. The lease includes a 15% rent increase every three years, a security deposit of ₹35.115 crore and a nine-month rent-free period. Rent payments are scheduled to begin in June 2027, further highlighting demand for premium office space in BKC.
BNP Paribas Signs 10-Year Lease for 5 Lakh Sq Ft at One Radial, Chennai
French financial services firm BNP Paribas has signed a 10-year lease for approximately 5 lakh sq ft at One Radial, a commercial complex owned by Mindspace Business Parks REIT in Chennai. The transaction covers four floors within the 2.6 million sq ft campus and is among the city’s major office deals this year. Based on estimated rentals of around ₹90 per sq ft per month, the rental payout over the 10-year period is estimated at approximately ₹550 crore, excluding escalations and other additional costs. The move forms part of the bank’s effort to consolidate its Chennai operations, which were previously spread across smaller offices.
IndiQube Plans Investment of Up to ₹35 Crore in SaiEdge Realty
Flexible workspace operator IndiQube Spaces has approved an investment of up to ₹35 crore in SaiEdge Realty for a stake of up to 49% on a fully diluted basis. The investment may be made through equity shares and/or convertible securities, in one or more tranches. SaiEdge Realty will develop commercial office space, which IndiQube intends to lease upon completion. The arrangement gives IndiQube a strategic route to participate in office development while building potential future inventory for its managed workspace business.
Sara Ali Khan and Amrita Singh Lease Out 2,545 Sq Ft Office in Andheri West
Sara Ali Khan and her mother, Amrita Singh, have leased a 2,545 sq ft commercial office space in Mumbai’s Andheri West to Bengaluru-based AI firm Upsurge Labs LLP. The five-year agreement carries a reported total rental value of ₹3.76 crore, with an initial monthly rent of ₹5.85 lakh. The lease includes a 5% annual rent escalation and three car parking spaces. The transaction adds to recent commercial property leasing activity involving individual property owners and technology businesses in Mumbai.
Saif Ali Khan’s Andheri Office Lease to Generate ₹14.64 Crore Over Five Years
Actor Saif Ali Khan has leased two commercial office units spanning 5,692 sq ft at Kanakia Wall Street in Mumbai’s Andheri East to Durva Fintech Private Limited. The five-year agreement has a starting monthly rent of ₹22.77 lakh, with total rent payable estimated at ₹14.64 crore over the tenure, excluding GST. The registered lease provides for a 5% annual rent escalation and a security deposit of ₹2.37 crore. The units were acquired by Khan for a combined ₹30.75 crore in November 2025, before being leased to the fintech company.
India’s commercial real estate market continues to see sizeable commitments from technology companies, consulting firms and financial institutions. From long-term leases in Noida and Chennai to expansion and consolidation in Navi Mumbai and BKC, occupiers are making strategic decisions about where their teams will work. Meanwhile, IndiQube’s investment in SaiEdge Realty highlights how workspace operators are also exploring ways to secure future office supply.
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We’ll keep you updated with more insights next week!
