Signalling a sustained expansion in India despite global tech uncertainties, NVIDIA bets ₹12.3 billion for a new office in Bengaluru.
NVIDIA has leased about 760,000 square feet (about 70606.31 square metres) of office space in Bengaluru’s Mahadevpura area in a 10-year deal valued at over ₹12.3 billion, marking one of the city’s largest commercial real estate transactions in 2026.
The lease spans 12 floors at the Memphis South Tower in Bagmane Capital and commenced on 1 April 2026. The space has been taken from Bagmane Constructions under a fresh agreement, according to documents reviewed by Propstack.
Under the terms, NVIDIA will pay an initial monthly rent of ₹85.9 million, equivalent to ₹113 per square foot. The contract includes a 15 per cent rent escalation every three years, bringing the total rent outgoings over the lease period to approximately ₹12.3 billion. The company has also deposited ₹343.5 million as security, the documents show.
There was no immediate response from NVIDIA on the development.
Market analysts said the transaction reflects sustained demand for large, Grade-A office spaces in Bengaluru, particularly from multinational technology firms and global capability centres. Micro-markets such as Mahadevpura, Outer Ring Road and Whitefield continue to drive leasing activity in the city.
They added that global technology companies continue to expand their engineering, design, and research operations in India despite macroeconomic uncertainties in international markets.
Raja Seetharaman of Propstack, in a Moneycontrol report, said the scale of the deal highlights the growing footprint of artificial intelligence (AI)-focused firms in India. He noted that the long-term commitment, involving a rental outflow, underscores both the demand for premium office assets and Bengaluru’s role as a key hub for technology and semiconductor activity.
