HSBC has signed a letter of intent (LOI) with Prestige Group to lease a 1.2 million square feet campus in Bengaluru for 20 years, valued at over ₹3,000 crore. The new facility, named Prestige JRC Signature Towers, will consolidate HSBC's India global capability centre (GCC) operations under one roof. The bank plans to move into the campus next year, according to livemint.com.
The deal involves HSBC occupying the Prestige Lakeshore Drive property, marking a significant expansion of its footprint in Bengaluru. The agreement was formalized through the LOI, setting the stage for the development of the new campus. This move will bring together HSBC's various GCC functions, streamlining operations and enhancing collaboration within the bank's India division, livemint.com reported.
This lease deal underscores the growing importance of Bengaluru as a hub for global capability centres, with HSBC joining other major firms investing heavily in the city. The ₹3,000 crore commitment reflects confidence in the Indian market and the demand for large-scale office spaces tailored to technology and financial services companies. Comparable deals in the sector highlight a trend of consolidation and expansion among multinational banks' India operations.
The campus is expected to be operational by next year, marking a key milestone for HSBC's India strategy. The 20-year lease agreement with Prestige Group secures a long-term presence in Bengaluru, supporting the bank's growth and operational efficiency in the region, livemint.com confirmed.