Bengaluru: India’s largest lender State Financial institution of India (SBI), by way of State Financial institution World IT Centre, has taken up 134,000 sq. ft of office space on lease at Newa Bhakti Data Metropolis, in Navi Mumbai’s Airoli locality.
It has leased the space to arrange a worldwide functionality centre (GCC), unfold throughout six flooring, from Newa Technocity (India) Pvt Ltd.
SBI pays roughly ₹1.68 crore in month-to-month lease for the five-year lease tenure, as per paperwork accessed by actual property information analytics platform Propstack. The fees embrace lease plus inside fit-outs for the space. The lease transaction was signed in February. If the lease is renewed, there shall be a 15% escalation in lease after 5 years.
In January, SBI chairman Challa Sreenivasulu Setty inaugurated its international functionality centre in Bengaluru, which it then stated was a first-of-its-kind initiative by any Indian financial institution. The centre underscores SBI’s dedication to help the rising GCC ecosystem, it stated.
“The lease at Newa Bhakti Data Metropolis by State Financial institution of India (GITC) underscores the continued choice for Airoli as a major hub for international functionality centres within the MMR (Mumbai Metropolitan Area). This long-term dedication displays the sturdy demand for high-quality IT infrastructure that may help large-scale digital banking operations,” stated Raja Seetharaman, co-founder, Propstack.
“It’s a clear indicator that institutional tenants are prioritizing consolidated, ready-to-use areas to drive their technological mandates,” he added.
An SBI spokesperson did not reply to Mint’s queries.
Final yr, Dow Chemical substances Worldwide Pvt Ltd leased 179,000 sq. ft in Airoli’s Mindspace Business Park for a ten-year interval.
India’s GCC leasing exercise hit a file 31 million sq ft in 2025, with Bengaluru commanding a 34-39% market share by way of its over 900 GCC, a current report by property advisory JLL India stated.
Mumbai, the nation’s business capital, has witnessed GCC exercise pushed by main banks, monetary establishments, and multi-national companies, the report added.
Over 200 GCCs have entered India within the final two years, with projections indicating that the entire GCC footprint will surpass 350 million sq. ft within the subsequent three to 4 years.
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