In a major office leasing move, Accenture is strengthening its presence in India by securing a large workspace to support its growing global operations.
Accenture has leased over 600,000 sq ft of office space across 9 floors at Phoenix Millennium Towers in Pune’s Baner area under a long-term agreement of more than 15 years, according to people familiar with the development. The space will be used to set up a global capability centre (GCC), with occupancy planned in 2 phases, expected to be completed by June.
The total rental outgo for the lease is estimated at more than Rs 325.37 crore. Phase I accounts for Rs 194.16 crore, while Phase II is valued at Rs 131.21 crore. “The move is part of a broader strategy to both expand its operational footprint and consolidate existing teams into a single, integrated campus, enabling operational efficiency, scalability and alignment of functions,” said one of the persons mentioned above.
The deal comes at a time when India’s GCC ecosystem continues to see strong growth, with global companies expanding to benefit from cost efficiencies and access to skilled talent. It also reflects rising demand for Grade A office spaces, as companies secure premium assets early for long-term capacity and pricing stability.
This transaction is among the larger long-term office leasing deals in India and highlights continued demand for scalable, high-quality workspaces.
India’s office market remains active despite global uncertainties and concerns around AI-led disruptions. Gross leasing reached 21.5 million sq ft in Q1, the highest for any January–March period, with GCCs contributing 45.5% of total demand.
Phoenix Millennium Towers, located in Baner, is a Grade A office development within a mixed-use ecosystem. It houses multinational tenants such as MUFG Bank, Baker Hughes, and Clean Harbors, reinforcing its position as a premium commercial hub.
Pune’s western corridor, including Baner, Balewadi, and Wakad, is emerging as a high-growth office market due to talent availability, better infrastructure, and strong connectivity to residential areas. Upcoming infrastructure upgrades, including access to Navi Mumbai International Airport, are expected to further drive leasing demand in the region.
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