Accenture is expanding its footprint in India by acquiring a substantial workspace to support its growing global operations. The company has taken on lease more than 600,000 sq ft of office space spread across nine floors at Phoenix Millennium Towers in Pune’s Baner locality, under a long-term agreement exceeding 15 years. The premises will house a global capability centre (GCC), with occupancy scheduled in two phases and expected to be fully completed by June.
The total rental outgo for the lease is estimated at more than Rs 325.37 crore. Phase I accounts for Rs 194.16 crore, while Phase II is valued at Rs 131.21 crore. The initiative forms part of a wider strategy to expand its operational presence while bringing current teams together on a unified, integrated campus, thereby improving operational efficiency, supporting scalability, and better aligning functions.
The deal comes at a time when India’s GCC ecosystem continues to see strong growth, with global companies expanding to benefit from cost efficiencies and access to skilled talent. It also reflects rising demand for Grade A office spaces, as companies secure premium assets early for long-term capacity and pricing stability.
India’s office market remains active despite global uncertainties and concerns around AI-led disruptions. Gross leasing reached 21.5 million sq ft in Q1, the highest for any January–March period, with GCCs contributing 45.5% of total demand. Phoenix Millennium Towers, situated in Baner, is a Grade A office project within a mixed-use development. It accommodates multinational occupiers including MUFG Bank, Baker Hughes, and Clean Harbors, underscoring its status as a high-end commercial destination.
Pune’s western corridor, including Baner, Balewadi, and Wakad, is emerging as a high-growth office market due to talent availability, better infrastructure, and strong connectivity to residential areas. Upcoming infrastructure upgrades, including access to Navi Mumbai International Airport, are expected to further drive leasing demand in the region.