IDFC FIRST Bank leases 1.4 lakh sq ft in Bengaluru

16 Jan 2024 CW Team

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.

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..

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..

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..