Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has rented 49,820 sq. ft. space in Mumbai’s Bandra-Kurla Complex (BKC) for a period of 5 years, with a total rent of Rs. 189 crore for the entire lease duration. The space is situated in Sumitomo C65, a commercial tower developed by Goisu Realty Private Limited, the Indian real estate arm of Japan’s Sumitomo Realty & Development Co. Ltd.
As per the lease agreement signed on October 6, 2026, SMBC would be occupying office space on an upper floor of the building. The deal comes amid ongoing activity in BKC, one of Mumbai’s key commercial districts, where big companies lease office space for their operations.
Lease Covers 49,820 Sq. Ft. at Sumitomo C65
The five-year agreement gives SMBC access to nearly 50,000 sq. ft. of office space in the commercial tower. The property is owned by Goisu Realty, which develops office projects in Mumbai.
The lease is structured as a rental arrangement rather than a property purchase. The Rs. 189 crore figure represents the total rent over the five-year term, while the monthly rental payments are calculated separately under the agreement.
The deal also adds to the presence of Sumitomo Realty & Development in Mumbai’s commercial property market through its Indian real estate arm. The group has been developing office space in the city, with BKC forming part of its commercial portfolio.
Monthly Rent Starts at Around Rs. 3.46 Crore
The agreement sets the rent at Rs. 694 per sq. ft. per month, translating to an initial monthly payment of approximately Rs. 3.46 crore. At this rate, the annual rental outgo would be around Rs. 41.5 crore before any scheduled increase.
The contract provides for a 15% increase in rent every three years. It also includes a security deposit of Rs. 35.115 crore, alongside a nine-month rent-free period. Rental payments are scheduled to begin in June 2027.
It is separate from the five-year lease tenure and the total rent value reported for the transaction.
The escalation clause will also affect the rental outgo during the lease period, meaning the monthly amount will not necessarily remain at its initial level throughout the term.
Goisu Realty Has Another Major BKC Lease
The SMBC agreement follows another sizeable office transaction involving Goisu Realty in BKC. In 2025, US-based financial services company JP Morgan Private Limited pre-leased 1.16 lakh sq. ft. in another commercial tower being developed by the company.
That lease carried a reported monthly rent of Rs. 6.91 crore. While the two transactions differ in size and rental value, both involve large financial services companies taking office space in the same commercial district.
The deals also show Goisu Realty’s role in supplying office space to corporate occupiers in Mumbai. However, the two transactions alone do not establish a wider trend across the city’s office market.
BKC Remains a Key Commercial Address in Mumbai
Bandra-Kurla Complex is an established business district in Mumbai, with offices of financial institutions, multinational companies and government agencies. The area also houses the Reserve Bank of India, the Mumbai Metropolitan Region Development Authority and the US Consulate, alongside commercial developments and hospitality facilities. The district has also seen other office transactions, including a lease renewal by Qatar National Bank.
Its concentration of corporate offices has made BKC an important location for companies seeking a presence in Mumbai’s business ecosystem. For property developers, leasing office space to large corporate occupiers is one way to build a portfolio of commercial tenants.
SMBC’s five-year lease adds another large office transaction to the district. The agreement’s rental rate, deposit and escalation terms provide a closer look at the financial commitments involved in leasing premium commercial space in BKC.
