Accenture takes 584,000 sq ft at Mindspace REIT parks in Airoli, Navi Mumbai

Accenture has leased, expanded and renewed over 584,000 sq ft of office space across Mindspace REIT’s business parks in Airoli, Navi Mumbai. The transactions, with a 10-year tenure and monthly rent of Rs 70 per sq ft, bring the company's total footprint with the REIT in the city to nearly 1 million

Global technology and consulting major Accenture has secured over 584,000 sq ft of office space through three long-term lease deeds across Mindspace Business Parks REIT’s business parks in Navi Mumbai. The transactions, spanning 10 years, comprise fresh leasing and expansion of 308,000 sq ft along with renewal of 276,000 sq ft.

The deals cover 160,000 sq ft at Mindspace Airoli West and 148,000 sq ft at Mindspace Airoli East as part of fresh leasing and expansion, alongside the renewal area. With the additional space at Mindspace Airoli West, Accenture will occupy an entire eight-floor building, while its expanded footprint at Mindspace Airoli East will span seven floors, according to documents accessed through Propstack, a realty data analytics platform.

The leases carry a monthly rental of Rs 70 per sq ft, with a 10-year tenure and annual rental escalation of 4.5 per cent. Based on the total leased area of 584,000 sq ft, the estimated rental value over the tenure works out to around Rs 605 crore, including annual escalations, assuming the same rental rate applies across the renewed and newly leased space. This excludes common area maintenance charges, fit-out costs and other expenses.

The transactions take Accenture’s total footprint with Mindspace REIT in Navi Mumbai to nearly 1 million sq ft. The company has already been operating from Mindspace REIT’s assets, and the latest consolidation brings more of its Navi Mumbai operations within the REIT’s business parks. The new offices are expected to house around 10,000 employees.

Accenture’s leased office portfolio in India, earlier estimated at around 11.5 million sq ft, has grown following additional leasing of about 4 million sq ft in recent months, taking its total footprint to around 15 million sq ft. The company has more than 350,000 employees in the country and has also been adding office space in other major Indian markets, including 300,000 sq ft in Thane’s Hiranandani Estate through a long-term lease.

The transactions underline demand for large office blocks in established suburban business districts, particularly from multinational occupiers consolidating operations and expanding technology-led functions in India. Airoli has emerged as an established office destination for multinational companies and global capability centres, supported by its talent pool, relatively lower occupancy costs and access to residential catchments. Infrastructure improvements, including the Atal Setu and the Navi Mumbai International Airport, are also expected to support connectivity across the broader region.