Synopsis: Bengaluru dominates the office market segment and has registered 22.7 million sq ft office leasing activity in 2025-26, which was driven by mega-deals which increases demand of Grade-A occupancies and rents in major micro markets.
Bengaluru controlled the office leasing arena in India in 2025- 26 with 28.7 million sq ft gross volume, a 59 percent year-on-year increase powered by technological firms, Global Capability Centres (GCCs), financial services and automotive companies. Bengaluru has made 6 out of the 10 best deals in India in a national year of 86.4 million sq ft leasing in the country. Let us look at some of the major Office Leases driving BFSI Real Estate Growth.
Major Corporate Leases in Bengaluru
Nike: Expanding its technology and operations presence in the familiar IT corridor of the area around HAL Airport, Nike India leased 126,000 sq ft at the Bagamane Tech Park – Olympia Building in CV Raman Nagar. The agreement will enhance the attractiveness of the park to international brands who are interested in being near the talent eco system in East Bengaluru.
Disney: Disney has leased 174,000 sq ft of premium office space at RMZ Ecoworld 20 on ORR in Bellandur, and has been using high-quality campus infrastructure which is completed at the beginning of 2026.
Honeywell: Honeywell signed a 7-year lease at RMZ Ecoworld, Bellandur, effective January 2026, covering 399,220 sq ft, at ₹429 crore rental commitment over seven years, ie. ₹4.39 crore/ month with expansion options.
TCS: TCS took the biggest deal of 1.4 million sq ft in 360 Business Park, Electronic City at a 15-year agreement for ₹2,130 crore worth and monthly rent with ₹9.31 crore. The lease has been signed with Labzone Electronics City Pvt Ltd. This deal strengthened South Bangalore as the IT leasing hub in India. Another deal of TCS, a 1.75 million sq ft lease at Sattva Knowledge Point in Yeshwanthpur for ~₹975 crore (5-year term).
IBM: IBM grew on two leases 161,884 sq ft in Emp Bank Business Park at four years beginning April 2025 at ₹2.43 crore monthly (₹150/ sq ft) and 282,100 sq ft in Bagmane Solarium City for 1 year beginning January 2026. These enhanced its technology operations presence in the footprint of the operations of the company.
JLR: Jaguar Land Rover had leased 146,000 sq ft (1.46 lakh sq ft) over one ground floor and 146,000 sq ft (1.46 lakh sq ft) in five floors, first, fifth and eighth, in Brigade Tech Gardens, Brookefield-Whitefield. The five-year agreement implies ₹65/sq ft warm-shell rent (₹1.67 crore monthly plus fitouts), ₹10.10 crore deposit and 15 percent increase after every three years, which will increase the area occupied by JLR to more than 204,000 sq ft.
Qualcomm: Qualcomm signed a five-year lease agreement with ORR, taking 256,000 sq ft. for ₹184 crore over 5 year period at Bagmane Constellation Business Park representing greater R&D concentration in a high-connectivity area.
Walmart Global Tech: Walmart Global Tech India will lease 101,000 sq ft on three floors at Prestige Tech Cloud Building 2 (Cumulus), Devanahalli, North Bengaluru, an initial five-year lease will commence in March 2026.
BlackRock: BlackRock has leased 1.43 lakh sq. ft office space from Indicube in Bengaluru’s CBD, for 10 years commencing October 2025. This deal saw through a ₹410 crore office lease, and extended its financial services business in the backdrop of a booming BFSI demand on Grade-A office space.
Also read: India’s Office Leasing Hits Record 86.4 Million Sq Ft in 2025: See Which City Leads
Prime Micro Markets
ORR has been able to secure 70 percent of 2025 GCC volumes that include Honeywell, Disney, and Qualcomm transactions owing to Grade-A availability. Electronic City took the lead through TCS; Devanahalli through the airport-proximity game of Walmart; Brookefield-Whitefield through JLR in Brigade Tech Gardens. North Bengaluru (Hebbal, Nagavara) and Peripheral East (Sarjapur) were endorsing economical expansion.
Market Drivers and Impacts
Technology, GCCs (40-55% share), BFSI and automotive industries contributed to absorption of 11.8-18.2 million sq ft, which is higher than other cities. There was 4-15% escalations, deposits of ₹100 crore and 9.6% appreciation of capital value, which assured developer revenues. Occupancy levels were also high in Bellandur, ORR, Devanahalli, Electronic City, and Brookefield, leading to the pre-leasing of Grade-A developments in supply-constrained areas. Fintech, manufacturing and BFSI diversified demand were more than ₹100/sq ft and exceeded premium rents.
Job Opportunities
These ground-breaking leases created a lot of job opportunities within the office ecology of Bengaluru, focusing on specialized engineering, technology and financial talent pools. The vast growth of TCS requires thousands of software engineers and data scientists; Honeywell and JLR are in need of automotive R&D engineers; Walmart is in need of customer experience specialists; BlackRock is in need of investment analysts. IBM and Qualcomm are focused on the professionals of AI/ML, and the GCC in SBI generates the banking technology and relationship management positions, which will produce 15,000-20,000 direct jobs along with supporting services in ORR, Electronic City, Whitefield, and Indiranagar.
Conclusion
The office leasing boom in Bengaluru 2025-26 confirms its role as a commercial real estate giant in India with a mixture of occupier investments in various sectors along with growing infrastructure. The long-term investments of GCCs and tech giants are positive pointers of strong 2027 growth, though developers have to seal the supply-demand divides so that the premium growth trends can be maintained.
Written By Jayanth R Pai
