IDFC FIRST Bank leases 1.4 lakh sq ft in Bengaluru
ECONOMY & POLICY

IDFC FIRST Bank leases 1.4 lakh sq ft in Bengaluru

IDFC FIRST Bank has recently expanded and consolidated its operations in Bangalore by leasing more than 1.4 lakh sqft of office space in Koramangala. According to a registered lease document, the newly leased property has a total tenure of 9 years, with a rental rate of Rs 135 per sqft.

As per the information provided in the registered lease document, the entire building Fortius Origin in Koramangala has been leased by the bank. Townspeople who are aware of the deal mentioned that the property is currently undergoing fit-out and is expected to be operational later this year.

The Colliers transaction advisor involved in the deal declined to provide any comments on the matter.

Last year, IDFC FIRST Bank had sold approximately 68,000 sqft of office space in Mumbai's Bandra-Kurla Complex (BKC) for around Rs 1.98 crore. This strategic decision was made as part of the bank's effort to consolidate its operations near its corporate office located at IDFC FIRST Bank Tower (The Square), C-61, G Block, BKC, Mumbai.

The bank officially stated in its regulatory filing in November last year, "The decision was part of the consolidation of the bank?s operations near its corporate office at IDFC FIRST Bank Tower (The Square), C-61, G Block, BKC, Mumbai."

The BFSI sector has shown a strong resurgence in the past six months, with major international and domestic companies securing substantial office space leases. Bengaluru has witnessed a significant increase in BFSI occupancy over the past 4-5 years.

This growing demand for office space is attributed to the expansion efforts of domestic and select global banks and financial institutions such as JP Morgan, HDFC, Axis, and Morgan Stanley. These institutions have strengthened their presence in the country, particularly as more employees have returned to office environments.

IDFC FIRST Bank has recently expanded and consolidated its operations in Bangalore by leasing more than 1.4 lakh sqft of office space in Koramangala. According to a registered lease document, the newly leased property has a total tenure of 9 years, with a rental rate of Rs 135 per sqft. As per the information provided in the registered lease document, the entire building Fortius Origin in Koramangala has been leased by the bank. Townspeople who are aware of the deal mentioned that the property is currently undergoing fit-out and is expected to be operational later this year. The Colliers transaction advisor involved in the deal declined to provide any comments on the matter. Last year, IDFC FIRST Bank had sold approximately 68,000 sqft of office space in Mumbai's Bandra-Kurla Complex (BKC) for around Rs 1.98 crore. This strategic decision was made as part of the bank's effort to consolidate its operations near its corporate office located at IDFC FIRST Bank Tower (The Square), C-61, G Block, BKC, Mumbai. The bank officially stated in its regulatory filing in November last year, The decision was part of the consolidation of the bank?s operations near its corporate office at IDFC FIRST Bank Tower (The Square), C-61, G Block, BKC, Mumbai. The BFSI sector has shown a strong resurgence in the past six months, with major international and domestic companies securing substantial office space leases. Bengaluru has witnessed a significant increase in BFSI occupancy over the past 4-5 years. This growing demand for office space is attributed to the expansion efforts of domestic and select global banks and financial institutions such as JP Morgan, HDFC, Axis, and Morgan Stanley. These institutions have strengthened their presence in the country, particularly as more employees have returned to office environments.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement