NVIDIA has taken a major step in expanding its India presence by leasing 7.6 lakh sq ft of office space in Bengaluru's Bagmane Capital Memphis South Tower.
The 10-year deal is valued at around ₹1,230 crore, making it the company's largest office space commitment in India so far, according to property documents accessed by Propstack.
The lease has been signed by NVIDIA Graphics Private Limited, the company's Indian arm, and covers 12 floors in the building owned by Bagmane Constructions Private Limited. The total chargeable area stands at 7,60,000 sq ft, with a monthly rent of ₹8.59 crore.
Lease Structure and Terms
The agreement began on April 1, 2026, and is classified as a fresh transaction. Key details include:
- Rent fixed at ₹113 per sq ft per month
- Security deposit of ₹34.35 crore
- 10-year lease duration
- 15% rent escalation every three years
The scale of the deal reflects NVIDIA's growing engineering and R&D expansion in India, driven by rising global demand for AI infrastructure.
India's Growing Role in Global AI Expansion
Industry experts say the move highlights India's strengthening position in the global AI and semiconductor ecosystem. Bengaluru, already a major technology hub, continues to attract large-scale commitments from global tech firms.
According to analysts cited in the report, the lease reinforces the sustained demand for premium Grade-A office space and further cements the city's status as a key destination for advanced technology operations.
Rising Trend of Mega Tech Leases
NVIDIA's deal follows a series of large office leases by global tech and finance companies in India:
- Apple expanded its Bengaluru footprint with a major lease at Embassy Zenith
- Morgan Stanley leased 1 million sq ft in Mumbai's Oberoi Commerze III
- Qualcomm India signed a multi-year lease for office space in Bengaluru
These transactions reflect a broader trend of global companies scaling up operations in India, particularly in high-value technology and engineering sectors.