US-based financial software company Intuit has finalized a deal exceeding Rs 915 crore to lease over 630,000 sq ft of office space within a commercial tower in Bengaluru’s Embassy Tech Village.
This transaction is among the largest focused on Global Capability Centres (GCC) in the city, underscoring the ongoing strength in India’s office leasing sector, particularly from GCC businesses expanding their engineering, AI, fintech, and product development teams.
Intuit has secured approximately 631,978 sq ft across blocks 8A, 8B, and 8C in the tower from Vikas Telecom, a special purpose vehicle of Embassy Office Parks REIT, through a 10-year lease, according to registration documents obtained from Propstack, a real estate data analytics platform.
The leased space encompasses the ground floor and ten additional floors, at a rental rate of about Rs 97 per sq ft per month, amounting to a monthly rental expense of nearly Rs 6.13 crore. The agreement includes a security deposit of Rs 36.78 crore.
With a 15% escalation every three years, the total estimated rental commitment over the 10-year lease period is around Rs 915 crore.
Intuit, renowned worldwide for its financial and accounting software solutions, is continuously expanding its operations in India as part of its global product and engineering strategy. The company’s India development center plays a pivotal role in product engineering, AI, data science, and platform capabilities.
Intuit and Embassy Business Parks REIT did not respond to email inquiries.
Large-scale office transactions by multinational companies have surged in Bengaluru, Hyderabad, and Pune over the past year as firms strengthen their India-based technology and back-office operations.
Industry leaders report that GCC demand remains robust despite global economic uncertainties, with India maintaining its status as a preferred location for talent, cost efficiency, and digital capability expansion.
Bengaluru continues to lead the nation in technology-driven leasing activity, as significant occupiers expand and consolidate operations in premier business districts.
Located along the Outer Ring Road (ORR) corridor, Embassy Tech Village is a prominent office campus in Bengaluru, home to various multinational tech companies, GCCs, and financial services firms.
The ORR micro-market continues to dominate leasing efforts in the city, supported by abundant large-format office supply, improved metro connectivity, and a strong preference for integrated office parks.
