Nvidia extends lease for 3.75 lakh sq ft office in Pune's Yerwada

26 Sep 2024 CW Team

The lease agreement, effective from August 1, has been finalized with Mindspace Business Parks REIT, the developer of the complex. According to documents accessed through Propstack, the renewed lease sets the monthly rent at Rs 81 per sq ft, resulting in a total monthly payment of Rs 30.03 million. As part of the agreement, Nvidia has deposited a security amount equivalent to six months’ rent.

The lease includes a clause that allows for a 5% rental escalation every year, ensuring that the landlord benefits from inflation-adjusted returns throughout the 120-month lease period. This escalation aligns with market norms for premium office spaces in India’s metropolitan areas

This lease renewal represents a significant development for Pune's commercial real estate sector, especially within the IT and ITES segments, where large multinationals like Nvidia play a crucial role. Yerwada, known for its connectivity and proximity to Pune airport, continues to be one of the city's most desirable business hubs.

Nvidia maintains a considerable presence in India, with offices in major cities including Pune, Bengaluru, and Hyderabad. The company emphasizes research and development in areas such as artificial intelligence (AI), graphics processing units (GPUs), and data centres. India serves as an essential talent hub for Nvidia, contributing to advancements in machine learning, cloud computing, and autonomous systems. The company’s partnerships with Indian enterprises and academic institutions further highlight its dedication to fostering innovation and supporting the country’s digital transformation.

Nvidia's ongoing presence in Pune reinforces the city’s reputation as an emerging technology hub in India, where major global players are expanding their operations. With increasing demand for technology, the commercial real estate market in Pune is anticipated to experience further growth in the coming years.

Nvidia Corp, an American multinational corporation and technology company, has renewed its lease for an office space of 375,000 sq ft in a commercial complex located in Pune's Yerwada locality for a long-term period of 10 years. The California-based company has secured the lease for its office spread across eight floors of the Commerzone Yerwada commercial tower. The lease agreement, effective from August 1, has been finalized with Mindspace Business Parks REIT, the developer of the complex. According to documents accessed through Propstack, the renewed lease sets the monthly rent at Rs 81 per sq ft, resulting in a total monthly payment of Rs 30.03 million. As part of the agreement, Nvidia has deposited a security amount equivalent to six months’ rent. The lease includes a clause that allows for a 5% rental escalation every year, ensuring that the landlord benefits from inflation-adjusted returns throughout the 120-month lease period. This escalation aligns with market norms for premium office spaces in India’s metropolitan areas This lease renewal represents a significant development for Pune's commercial real estate sector, especially within the IT and ITES segments, where large multinationals like Nvidia play a crucial role. Yerwada, known for its connectivity and proximity to Pune airport, continues to be one of the city's most desirable business hubs. Nvidia maintains a considerable presence in India, with offices in major cities including Pune, Bengaluru, and Hyderabad. The company emphasizes research and development in areas such as artificial intelligence (AI), graphics processing units (GPUs), and data centres. India serves as an essential talent hub for Nvidia, contributing to advancements in machine learning, cloud computing, and autonomous systems. The company’s partnerships with Indian enterprises and academic institutions further highlight its dedication to fostering innovation and supporting the country’s digital transformation. Nvidia's ongoing presence in Pune reinforces the city’s reputation as an emerging technology hub in India, where major global players are expanding their operations. With increasing demand for technology, the commercial real estate market in Pune is anticipated to experience further growth in the coming years.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..