Accenture Leases 5.84 Lakh Sq Ft Across Mindspace Airoli

Accenture has leased and renewed more than 5.84 lakh sq ft of office space across Mindspace Business Parks REIT's Airoli properties in Navi Mumbai through three long-term lease deeds spanning 10 years.

The transactions comprise 3.08 lakh sq ft of fresh leasing and expansion and 2.76 lakh sq ft of renewed space, with estimated rental value reaching around Rs 605 crore over the lease tenure, including annual escalations.

The transactions cover Mindspace Airoli West and Mindspace Airoli East.

Documents accessed through Propstack, a real estate data analytics platform, show that the additional space will consolidate more of Accenture's Navi Mumbai operations within Mindspace REIT's business parks.

Accenture Expands Across Airoli West and East

The fresh leasing and expansion include 1.60 lakh sq ft at Mindspace Airoli West and 1.48 lakh sq ft at Mindspace Airoli East. Together, these areas account for 3.08 lakh sq ft, separate from the 2.76 lakh sq ft of renewed space.

With the additional space at Airoli West, Accenture will occupy an entire eight-floor building. Its expanded footprint at Airoli East will span seven floors.

The transactions take the company's total office footprint with Mindspace REIT in Navi Mumbai to nearly 1 million sq ft.

Lease Terms and Estimated Rental Value

The leases carry a monthly rental rate of Rs 70 per sq ft, with a tenure of 10 years and annual rental escalation of 4.5%.

Based on the combined area of 5.84 lakh sq ft, the estimated rental value over the lease period is around Rs 605 crore, including annual escalations.

This estimate assumes the same rental rate applies to both the renewed and newly leased areas.

It excludes common area maintenance charges, fit-out costs and other expenses, so the stated figure represents the estimated rental value under those assumptions rather than a complete measure of occupancy costs.

Office Space to Support 10,000 People

The fresh leasing and expansion are expected to accommodate around 10,000 people. The space will support operations, technology, global capability centre (GCC) activities and back-office functions.

Accenture already operates from Mindspace REIT assets, and these transactions bring more of its Navi Mumbai operations into the business parks.

The company has also leased 3 lakh sq ft at Hiranandani Estate in Thane through a separate 10-year lease, according to the report.

Accenture's Wider India Office Footprint

Accenture's leased office portfolio in India was previously estimated at around 11.5 million sq ft.

Following approximately 4 million sq ft of additional leasing in recent months, its total footprint has grown to around 15 million sq ft. The company has more than 350,000 employees in India.

The report notes that Airoli attracts multinational companies and global capability centres, citing its talent pool, relatively lower occupancy costs and access to residential catchments.

It also identifies infrastructure improvements, including Atal Setu and Navi Mumbai International Airport, as developments expected to support regional connectivity.

Key Takeaways

• Accenture leased and renewed more than 5.84 lakh sq ft across Mindspace REIT's Airoli parks.
• The transactions include 3.08 lakh sq ft of fresh leasing and expansion and 2.76 lakh sq ft of renewals.
• The leases run for 10 years, with monthly rent of Rs 70 per sq ft and annual escalation of 4.5%.
• The additional space is expected to accommodate around 10,000 people across several business functions.

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