Nvidia's Indian subsidiary Nvidia Graphics Pvt Ltd has secured a ₹1,230 crore lease for 7.6 lakh sq ft of office space in Bengaluru's Bagmane Capital. According to reports from Mint, the company will pay the total rental amount over a 10-year lease tenure starting April 1, 2026. The lease covers 12 floors at Memphis South Tower in Bagmane Capital, a tech campus developed by Bagmane Constructions Pvt Ltd. The rental agreement includes a 15% escalation every three years, as detailed in the lease document.
The lease represents Nvidia's continued expansion in India's AI ecosystem, with the company having previously secured 73,000 sq ft of office space at The Headquarters 2 in Gurugram and 3.75 lakh sq ft at Mindspace Business Parks REIT's Commerzone property in Pune. As reported by Mint, Nvidia Graphics Pvt Ltd was incorporated in 2004 and maintains registered offices in Bengaluru and Mumbai. The expansion comes as global tech giants increasingly establish AI research and development presence in India.
The transaction highlights India's growing appeal for AI companies, with Mint reporting that India's office market activity reached 21.5 million sq ft in the January-March quarter of this year. According to property advisory JLL India, Bengaluru led with a 24.8% share of leasing volume, followed by Mumbai with 19.5%. The technology sector emerged as the biggest contributor to office leasing during the same period, with global-headquartered firms commanding a 57% share of India's office leasing landscape.
Current deal pipelines and leasing velocity indicate India's office market is positioned to potentially reach the 100 million sq ft milestone over the next two years, representing a landmark achievement for the sector. As reported by JLL India, this expansion comes despite geopolitical and anticipated AI-driven disruption headwinds for the office sector. The sustained demand for premium Grade-A office spaces underscores Bangalore's position as the primary destination for high-end technology and semiconductor growth.
