Texas-based energy major ExxonMobil Services and Technology Private Limited has leased 2.35 lakh sq ft of office space in Bengaluru's Whitefield under a three-year agreement, at a monthly rent of ₹1.86 crore. The lease covers seven floors, spanning the first, second, third, fourth, sixth, seventh and eighth floors of the ITPB Inventor building, owned by Information Technology Park Limited, according to documents accessed by Propstack.
Lease Terms and Payment Structure
The agreement has been signed at ₹79 per sq ft per month, with ExxonMobil providing a security deposit of ₹5.58 crore. The lease includes a 5% annual rent escalation clause, and rent is to be paid quarterly in advance on or before the 10th business day of the first month of each quarter, split across Phase 1 and Phase 2 commencement dates. Queries sent to ExxonMobil Services and Technology had not been responded to at the time of reporting.
What This Signals for Bengaluru's GCC Market
Raja Seetharaman, co-founder of Propstack, said the deal reflects a broader trend of Global Capability Centres locking in high-quality, institutional grade-A assets, adding that securing multi-floor expansions at a premium rate demonstrates confidence in India's technology ecosystem as a long-term growth driver. The transaction comes as Bengaluru emerged as India's top office market in the January to March 2026 quarter, capturing a 24.8% share of national leasing volumes, with GCCs accounting for 70% of that activity, the highest concentration in two years, according to JLL.
- Lease area: 2.35 lakh sq ft across seven floors
- Monthly rent: ₹1.86 crore at ₹79 per sq ft
- Security deposit: ₹5.58 crore
- Annual rent escalation: 5%
- Lease term: three years
Also Read: India Office Leasing Hits Record 45.5 Mn Sq Ft in H1 2026
ExxonMobil's Deepening Whitefield Footprint
This is not ExxonMobil's first significant office commitment in the area. Last year, the company renewed a five-year lease for nearly 5.31 lakh sq ft at Prestige Shantiniketan in Whitefield's eastern IT corridor, at a monthly rent of ₹2.60 crore. That space spans multiple floors across two buildings, Crescent 1 and Crescent 2, with the lease commencing on 1 November 2023 and carrying an option to renew for a further five years. Taken together, the two Whitefield commitments underscore ExxonMobil's sustained investment in Bengaluru as a base for its India operations, reinforcing the city's position as a preferred destination for multinational capability centres seeking large, grade-A campuses.
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