Real Estate Mumbai

Sumitomo Mitsui Banking Corp Leases 49,820 Sq Ft Office in BKC

By GeoSquare News Desk · Published 2026-10-18

Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s largest banking groups, has finalised a significant office lease in Mumbai’s Bandra-Kurla Complex (BKC). The bank has taken around 49,820 sq ft on a five-year term at the Sumitomo C65 building, with monthly rent pegged at approximately ₹694 per sq ft.

According to available transaction details, the total rental outgo for the lease period is estimated at about ₹189 crore. The deal highlights the continued appeal of BKC as a preferred corporate address for global financial institutions and banking majors.

BKC retains premium office demand

BKC remains one of India’s most expensive and sought-after office micro-markets. The lease by Sumitomo Mitsui underlines sustained interest from banking, financial services and insurance (BFSI) occupiers in Grade A commercial assets. With limited vacancy in prime towers, large-ticket leases in BKC are expected to keep rental values firm over the near term.

Outlook for Mumbai office leasing

Real estate experts see the transaction as another indicator of resilient office demand in Mumbai, particularly from global banks expanding or consolidating their India operations. The combination of high-quality infrastructure, proximity to corporate headquarters and strong connectivity continues to make BKC a top choice for multinational tenants.

As financial institutions prioritise efficient and well-located workspaces, leasing momentum in Mumbai’s premium business districts is likely to remain steady through 2025.