Infosys leases 1.3 lakh sq ft of office space at Pune's Embassy Tech Zone

Indian tech giant Infosys has leased 1.3 lakh square feet (sq ft) of office space in Pune's Embassy Tech Zone at a monthly rent of Rs 70.4 lakh for three years, as per the registration documents provided by Propstack.

 

Infosys has leased the space “in need of office space for the purposes of carrying out the permitted business therefrom,” the registration document said.

 

Embassy Pune Tech Zone is a part of Bengaluru-based Embassy Office Parks, a real estate investment trust (Reit), and has a leasable area of 5.5 million square feet (msf). The office park’s market value is Rs 2,414.5 crore. It is located at Plot No. 3/A and Plot No. 3/B in Rajiv Gandhi Infotech Park in Hinjewadi Phase-II.

 

 

The lease commenced on June 4, 2024, but was registered in December 2024, with a deposit of Rs 6.34 crore and a per sq ft rate of Rs 55.

 

Infosys and Embassy have negotiated for leasing “a fully fitted-out office space for commercial purposes on an 'as-is-where-is' basis,” the registration document said.

 

The company already has offices in Pune across Rajiv Gandhi Infotech Park, Hinjewadi, Phase-I, Plot No. 24/2; Rajiv Gandhi Infotech Park, Plot No. 24/3, Village-Maan; Rajiv Gandhi Infotech Park, Phase-II; Rajiv Gandhi Infotech Park, MIDC, Phase-III; and Cybercity, Magarpatta City, Hadapsar.

 

Earlier, in 2022, Infosys leased 5 lakh sq ft of office space at a rent of Rs 2.35 crore in Bengaluru. In 2023, Infosys and HDFC Bank leased 6 lakh sq ft of prime office space in Noida.

 

The growth in India’s office sector is being led by the technology, banking, financial services and insurance (BFSI), manufacturing, and flexible workspace segments.

 

In the first quarter of calendar year 2025 (Q1CY25), as per Savills, a global consultancy, the top six Indian cities, including Pune, saw a 10 per cent year-on-year (Y-o-Y) increase in gross office space absorption.

 

The technology sector dominated the leasing activity in Q1CY25 with the highest 32 per cent share.

 

Pune stood at fourth place with a 9 per cent Y-o-Y rise in gross absorption, driven by higher office take-up by occupiers in the information technology–business process management (IT-BPM) and BFSI sectors, as well as flexible workspace operators.