Accenture Leases 3.46 Lakh Sq Ft of Office Space at Phoenix Millennium Towers, Wakad, Pune

Accenture Commits to Major Office Expansion in Pune

Accenture has leased approximately 3.45 lakh square feet of office space in Pune through a long-term agreement valued at nearly ₹355 crore. The leased premises are located at Phoenix Millennium Towers in Wakad, a rapidly growing commercial destination in Pune's western corridor.

Transaction Structure

The IT services firm has leased office space across five floors at Phoenix Millennium Towers in Wakad, with a total rental commitment estimated at around Rs 355.4 crore over the lease tenure. The lease is structured in two separate agreements executed with Alyssum Developers Private Limited.

Under the first agreement, Accenture Solutions has taken on lease 142,074 sq ft of chargeable office space (99,452 sq ft of carpet area) across the 13th and 14th floors of Phoenix Millennium Towers. The lease will commence on 1 August 2026 and will run for 116 months. The company will pay a monthly rent of about ₹1.04 crore and has paid a security deposit of about ₹4.15 crore.

Under the second agreement, Accenture Solutions has leased an additional 203,798 sq ft of chargeable office space (142,659 sq ft of carpet area) spanning the 15th, 16th and 17th floors of the same building. The lease commenced on 1 April 2026 and has a tenure of 10 years. The monthly rent for the space is about ₹1.49 crore, while the security deposit stands at ₹5.95 crore.

Rent and Escalation Terms

The combined leased area totals approximately 345,872 square feet, with Accenture agreeing to pay a monthly rent of about ₹2.52 crore. The legal contract incorporates a standard corporate clause ensuring a 15% rent escalation every three years to account for market appreciation.

Location and Market Position

The transaction is one of the largest commercial office leasing deals in Pune this year and reinforces the city's position as a major technology and Global Capability Centre (GCC) hub. Pune's office market recorded its strongest half-year leasing performance on record during H1 2026, underlining the city's growing importance as one of India's leading commercial office destinations. Gross office transactions stood at 6.6 mn sq ft, driven by sustained occupier demand across multiple sectors despite elevated leasing levels in the previous year.

Pune's western corridor — spanning Baner, Balewadi, and Wakad — has emerged as a high-growth office market driven by talent availability, improving infrastructure, and connectivity to residential clusters, attracting multinational firms looking to expand beyond Bengaluru and Hyderabad.

About Phoenix Millennium Towers

Phoenix Millennium Towers is a Grade A+ mixed-use commercial development with 2 basements + G + 3 + 14 floors of commercial offices across 3 towers with total ~1.3 mn sft GLA. The three towers measure approximately 0.46 mn sft, 0.36 mn sft, and 0.48 mn sft respectively, with floor plates ranging from 10k to 70k sft of leasable area. The development is located in Wakad & Balewadi micro markets, 300 mts off the Mumbai-Bengaluru highway.

Developer Background

Phoenix Mills Ltd was founded in 1905 as a textile manufacturing company headed by Mr Ramnarayan Ruia. The company got listed on the BSE in 1959 and later ventured into real estate. The Phoenix group launched its flagship consumption center, High Street Phoenix (HSP), in 1987.

The company began its geographical expansion in 2011 by launching three Phoenix Market Cities in Bengaluru, Pune, and Kurla. In FY 2024, the company launched Phoenix Mall of the Millennium in Pune at Wakad. The Phoenix group has presence in Mumbai, Bengaluru, Pune, Chennai, Agra, Indore, Lucknow, Bareilly, Ahmedabad, Surat, Coimbatore, CMR and Thane.