JP Morgan Leases 272,000 Sq Ft Office In Mumbai

15 Jan 2026 CW Team

Global banking major J.P. Morgan Services has taken on lease nearly 272,000 sq ft of office space at One Downtown Central (Crisil House) in Powai, Mumbai, at a starting monthly rent of about Rs 92.3 million for a five-year term.

As per the registered leave-and-licence agreement, Cowrks India Private Limited has licensed a total carpet area of 271,955 sq ft across the ground floor and floors three to nine of the building to J.P. Morgan Services India. The transaction was registered on December 29, 2025.

The agreement sets an initial monthly rent of Rs 92.31 million, translating to a per sq ft rate of Rs 339.43. The lease tenure is 60 months, with a lock-in period of 30 months for both parties. Annual rent escalation has been fixed at 5 per cent, in line with prevailing norms for Grade A commercial properties in Mumbai’s eastern business corridors.

The rent commencement date is April 1, 2026, providing the tenant a fit-out and transition window before operations begin. J.P. Morgan has paid a security deposit of around Rs 553.9 million, equivalent to about six months’ rent, consistent with market practice for large institutional occupiers.

The lease also includes 312 car parking spaces. The property is owned by Kairos Properties and leased to Cowrks, which is backed by Brookfield.

Over the five-year term, J.P. Morgan’s total rental commitment is estimated at approximately Rs 6.12 billion, assuming the contracted 5 per cent annual escalation.

Real Estate

15 Jan 2026

TOTO Crosses 70 Million WASHLET Units Globally

Japanese bathroom solutions major TOTO has announced that global shipments of its WASHLET range have crossed 70 million units, marking a significant milestone in over four decades of innovation across residential and public restroom applications. Now available in more than 100 countries, WASHLET adoption has accelerated across the Americas, Europe and Asia, reflecting a growing global emphasis on hygiene, comfort and wellness.India has emerged as one of TOTO’s fastest-growing markets. Over the past three years, WASHLET sales in India have doubled, driven by a post-pandemic shift towards clea..

YTL Cement’s CDL Academy, UTM Sign MoU on Talent and Research

CDL Academy, the learning and development arm of YTL Cement Group, has signed a Memorandum of Understanding with Universiti Teknologi Malaysia (UTM) to strengthen collaboration in talent development, applied learning and research innovation for Malaysia’s construction and engineering sector.The MoU, signed on January 9, 2026, formalises an ongoing partnership focused on equipping students with industry exposure and practical experience aligned with emerging requirements in sustainable construction. Under the agreement, the two institutions will jointly undertake professional training program..

Truva Raises Rs 78 Crore to Scale Resale Homes Platform

Truva, a full-stack resale homes platform, has raised Rs 780 million in fresh capital to accelerate expansion and deepen its technology-led operating model. The funding comprises Rs 610 million in equity led by Stellaris Venture Partners and Orios Venture Partners, along with Rs 170 million in venture debt from Stride Ventures. The round also saw participation from angel investors including Mukesh Bansal, Ramakant Sharma, Natasha Malpani Oswal and Ram Raheja.The capital will be used to expand Truva’s presence across Mumbai and enter new metros such as Delhi NCR and Bengaluru, strengthen TruI..