Nvidia Secures ₹1,200 Crore Lease for Large Bengaluru Office Space Amid AI Industry Growth

Nvidia's Indian Subsidiary Leases 760,000 Sq Ft Office Space in Bengaluru

Bengaluru: Nvidia's Indian subsidiary, Nvidia Graphics Pvt Ltd, has leased a massive 760,000 sq ft office space in Bengaluru's Bagmane Capital, marking the global tech giant's continued expansion of its AI research and development presence in the country. The 10-year lease tenure will see Nvidia Graphics paying a total rent of approximately ₹1,230 crore, with a 15% escalation every three years.

The lease, which commenced on 1 April, as per real estate data analytics platform Propstack, has been secured by Nvidia Graphics for twelve floors at Memphis South Tower in Bagmane Capital, a tech campus developed by Bagmane Constructions Pvt Ltd. Nvidia Graphics was incorporated in 2004.

India's indispensable role in the global AI ecosystem has been highlighted by Nvidia's decision to secure a massive office facility in Bengaluru. This long-term commitment underscores the scale at which AI giants are expanding their R&D and engineering footprint in India. With the lease set to run for 10 years, Nvidia Graphics will be paying a total rental outflow of approximately ₹1,230 crore over the next decade.

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The transaction at Bagmane Capital not only underscores the sustained demand for premium Grade-A office spaces but also reinforces Bangalore's position as the primary destination for high-end technology and semiconductor growth. India's office market activity continues to break new ground despite geopolitical and anticipated artificial intelligence (AI)-driven disruption headwinds for the sector, with gross leasing hitting 21.5 million sq ft in the January-March quarter of this year.

According to property advisory JLL India, the country's largest office market, Bengaluru, led with 24.8% share of the leasing volume, followed by Mumbai with 19.5%. The technology sector emerged as the biggest contributor in office leasing during the same period. Global-headquartered firms continued to command a lion's share of the India office leasing landscape, with a 57% share in the January-March quarter, mostly in line with their previous year average.

The current deal pipelines and leasing velocity indicate India's office market is on track to potentially reach the 100 million sq ft milestone over the next two years, representing a landmark achievement for the sector, JLL India said.

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