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MUMBAI: Accenture has signed a long-term lease for over 600,000 sq ft of office space, spanning nine floors at Phoenix Millennium Towers in Pune’s Baner area. This agreement extends for more than 15 years, as confirmed by sources familiar with the deal.
The global technology and consulting firm intends to establish a Global Capability Centre (GCC) at this location, with the move scheduled to occur in two phases, concluding in June.
The total rental expenditure is projected to exceed ₹325.37 crore over the lease duration, with phase I costing ₹194.16 crore and phase II ₹131.21 crore. According to one insider, “This decision is part of a larger strategy aimed at expanding operational presence and consolidating current teams into a cohesive campus, fostering efficiency, scalability, and functional alignment.”
RealtyDailyNews’s inquiries via email to Accenture and Phoenix Mills went unanswered by the time of publication.
This agreement reflects the ongoing growth in India’s GCC sector, with numerous global companies expanding to leverage cost efficiencies and access to skilled labor. It also signifies a trend of early pre-commitments in Grade A office spaces, as firms seek to secure high-quality properties amid tightening supply and establish long-term pricing stability.
The transaction stands out as one of the larger long-term office leasing agreements in India, underscoring the sustained demand from GCCs.
Despite geopolitical uncertainties and potential disruptions driven by AI, India’s office market continues to demonstrate robust activity.
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