JP Morgan Leases 1.16 Lakh Sq Ft in BKC Tower at Rs 70 Mn Monthly Rent

02 Jul 2025 CW Team

JP Morgan, the US-based financial services firm, has pre-leased 1.16 lakh sq ft of office space in a commercial tower being developed by Goisu Realty, a subsidiary of Japan’s Sumitomo Realty & Development Company, in Mumbai’s Bandra Kurla Complex (BKC). The lease agreement, accessed through property registration documents, indicates a monthly rent of Rs 60.91 million for a tenure of 10 years.

The lease covers the 11th and 12th floors of the Grade-A tower, with each floor spanning 58,105 sq ft. The rental agreement includes a 15 per cent escalation in rent every three years and provides an option to extend the lease for another 15 years, in three terms of five years each. JP Morgan has paid a security deposit of Rs 620.23 million as part of the transaction.

The tower, located on Plot No. 65 in G Block of BKC, is expected to be handed over by October 1, 2026. The building comprises six basements, a ground floor, 12 office floors, and a terrace.

This leasing marks a strategic move for JP Morgan, which already operates a large back-office facility in Mumbai's Goregaon suburb, where it leased 1.16 million sq ft in 2022 at Nirlon Knowledge Park for a similar long-term duration. The newly leased BKC space is expected to serve as its front-office operations.

In addition, Goisu Realty recently acquired an 8,054-square-metre land parcel in Lower Parel from The Bombay Dyeing and Manufacturing Company for Rs 4.40 billion, as part of a broader Rs 52 billion agreement involving the purchase of 22 acres in Worli. The Worli transaction, announced in September 2023, is considered one of Mumbai’s largest recent land deals, with the Wadia Group selling the Wadia International Centre land to Sumitomo’s Indian arm.

News source: Hindustan Times

Infrastructure Energy

09 Jan 2026

Rajesh Power Secures 65 MW BESS Project in Gujarat

Rajesh Power Services has recently secured a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project in Gujarat, marking its entry into utility-scale energy storage. The company received a Letter of Intent from Gujarat Urja Vikas Nigam for the project, which will be developed at Virpore under a tariff-based competitive bidding mechanism supported by Viability Gap Funding through the Power System Development Fund.The project is expected to be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement. With the ability to supply 65 MW of power for..

ONGC Forms JV with MOL for Ethane Shipping Operations

Oil and Natural Gas Corporation (Oil and Natural Gas Corporation) has recently entered the ethane shipping segment through joint venture agreements with M/s Mitsui O.S.K. Lines Ltd (Mitsui O.S.K. Lines), Japan. The agreements involve equity participation in two joint venture entities—Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited—registered at GIFT City, Gandhinagar.Under the arrangement, ONGC will subscribe to 2,00,000 equity shares of Rs 100 each in both entities, resulting in a 50 per cent equity holding in each joint venture, with the remaining stake ..

Waaree Energy Storage Raises Rs 10.03 Billio for 20 GWh Plant

Waaree Energy Storage Solutions Private, a subsidiary of Waaree Energies, has recently completed a strategic fund raise of around Rs 10.03 billion from a group of strategic investors, including family offices, high-net-worth individuals and institutional backers. The funding strengthens the company’s position in India’s rapidly expanding energy storage ecosystem.The capital raise forms part of an announced capital expenditure programme of nearly Rs 100 billion for setting up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. The plant will manufacture high-performa..