BNP Paribas India Solutions, the global delivery arm of French banking major BNP Paribas, has signed one of the largest office leasing transactions in Thane’s commercial real estate market. The company has leased 1.45 lakh sq ft of office space at the Hiranandani Centaurus project in Thane West at a monthly rent of ₹94.95 lakh, according to registration documents accessed by Propstack.
The agreement was executed between BNP Paribas India Solutions Pvt Ltd and Roma Builders Pvt Ltd, the developer of the Hiranandani Centaurus project. The lease covers the 11th and 12th floors of the Grade-A commercial tower. It was registered on July 10, 2025, and spans a five-year tenure.
The contract specifies that rent payments will commence from April 10, 2026. The carpet area under lease is 99,831 sq ft, which translates into a chargeable area of 145,384 sq ft. The effective rent works out to around ₹65 per sq ft per month. The agreement also includes an annual escalation clause of 4.75 per cent.
BNP Paribas has provided a security deposit of ₹8.5 crore as part of the arrangement. The lease grants the company access to as many as 145 parking slots within the basement of the building, underscoring the scale of operations planned at the location.
BNP Paribas India Solutions, established in 2005, functions as a wholly owned subsidiary of BNP Paribas SA. With delivery centres in Bengaluru, Chennai and Mumbai, it provides round-the-clock support across various verticals of the parent group including corporate and institutional banking, wealth management, and retail banking.
The latest deal reflects the company’s intent to scale up operations in India, which has become a strategic hub for its global delivery network. The Thane lease follows an earlier high-profile transaction in February 2025, when BNP Paribas secured a ground-floor unit at Maker Maxity in Bandra Kurla Complex (BKC). That deal, involving 3,497 sq ft of space at a rent of ₹811 per sq ft, was valued at around ₹17 crore over five years and ranked among the most expensive office leases in India.
Thane has been emerging as a significant commercial hub, complementing Mumbai’s established business districts of BKC, Lower Parel, and Nariman Point. Developers such as Hiranandani have positioned Thane as an affordable yet high-quality alternative for large corporates seeking Grade-A office stock with modern infrastructure.
BNP Paribas lease at Hiranandani Centaurus signals growing confidence among multinational companies in Thane’s commercial market. The combination of large contiguous floor plates, connectivity to Mumbai and Navi Mumbai, and comparatively lower rentals are seen as key drivers of demand.
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