Global technology and consulting company Accenture has taken more than 5.84 lakh sq ft of office space across Mindspace Business Parks REIT’s Airoli campuses in Navi Mumbai through three lease deeds with ten-year terms, according to property documents reviewed by ET. The total comprises about 3.08 lakh sq ft of fresh leasing and expansion and 2.76 lakh sq ft of renewals.
The transaction is important for the Navi Mumbai commercial real estate market because it combines expansion with a substantial renewal. That indicates both incremental space demand and an occupier’s decision to retain an established operating base. The report, published on 21 October, said the transaction takes Accenture’s total footprint across Mindspace REIT properties in Navi Mumbai to nearly one million sq ft.
How the Airoli office transaction is structured
The fresh leasing and expansion covers approximately 1.60 lakh sq ft at Mindspace Airoli West and 1.48 lakh sq ft at Mindspace Airoli East. ET reported that Accenture will occupy an entire eight-floor building at Airoli West, while its expanded Airoli East presence will span seven floors.
The deeds carry a reported starting rent of ₹70 per sq ft per month, a ten-year tenure and annual escalation of 4.5%. On the assumption that the same rent applies across all renewed and newly leased areas, ET estimated the rental value at about ₹605 crore over the term. That figure is an estimate rather than a consideration formally announced by either company, and it excludes common-area maintenance, fit-outs and other occupancy costs.
The newly leased and expanded premises are expected to accommodate around 10,000 people across operations, technology, global capability centre and back-office functions. ET said its requests for comment from Accenture and Mindspace REIT had not received responses before publication.
Why Airoli remains attractive to large office occupiers
Airoli has developed into a mature suburban office cluster with access to residential catchments across Navi Mumbai, Thane and the eastern Mumbai region. Large floor plates, campus infrastructure and a comparatively lower occupancy-cost base than Mumbai’s premium central business districts can make it suitable for technology, shared-services and global capability centre operations.
Mindspace REIT’s own property pages identify Accenture among the occupiers at both Airoli East and Airoli West. The REIT describes Airoli East as a Grade-A integrated business park; its public asset information showed committed occupancy of 84.5% as of 31 March 2026. These portfolio disclosures provide useful context for the location, but they pre-date the newly reported lease deeds and should not be treated as a post-transaction occupancy update.
The deal also fits a broader pattern of major employers consolidating operations within professionally managed office parks, where security, infrastructure, transport access and expansion options can be provided at campus scale. For a listed office REIT, long-term leases and renewals with large occupiers can support visibility of contracted rental income, although actual revenue recognition, incentives and leasing costs depend on individual agreements.
What the deal means for Navi Mumbai’s office market
For landlords and investors, the combination of renewal and expansion is a stronger demand signal than a relocation alone: existing space stays occupied while additional area is absorbed. It may also support leasing confidence in Airoli’s remaining and planned stock, though one large transaction does not by itself establish a market-wide trend.
For employees and nearby residential markets, a workforce addition of the scale indicated could increase weekday demand for transport, food services and rental housing around Airoli, Ghansoli, Kopar Khairane and adjoining Thane locations. The precise timing and pace of occupancy have not been disclosed, so those effects should be viewed as potential implications rather than immediate outcomes.
The main takeaway is that Airoli continues to compete for large technology-led requirements within the Mumbai Metropolitan Region. The transaction gives the submarket a substantial new leasing benchmark while keeping an important existing occupier in place for another long tenure.
Sources
- ETRealty — “Accenture leases, renews 5.84 lakh sq ft across Mindspace REIT’s Airoli parks”, published 21 October 2026 at 8:32 AM IST.
- The Economic Times — transaction report, published 20 October 2026; crawled 21 October 2026.
- Mindspace REIT — Airoli East property page, asset information as of 31 March 2026.
- Mindspace REIT — Airoli West property page, asset information as of 31 March 2026.