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Prestige Group has signed a Letter of Intent (LOI) with HSBC to develop a new integrated office campus at Prestige JRC Signature Towers on Bengaluru's Outer Ring Road. Under the proposed 20-year arrangement, HSBC will occupy around 1.2 million sq ft across two office towers, reflecting sustained demand for premium office space in India's leading commercial markets. The project, which is currently under construction and expected to be completed by October next year, is subject to definitive agreements and regulatory approvals. The move also strengthens Bengaluru's position as a preferred destination for global capability centres (GCCs).
Prestige Group has pre-leased around 1.2 million sq ft of office space to HSBC for a 20-year period at its upcoming Prestige JRC Signature Towers on Bengaluru's Outer Ring Road, highlighting continued demand for premium commercial real estate from multinational companies expanding their presence in India.
The company announced that it has signed a Letter of Intent (LOI) with HSBC for the development of the bank's new integrated campus. Under the proposed arrangement, HSBC will occupy two office towers with a combined leasable area of about 1.2 million sq ft. The transaction is expected to support HSBC's long-term expansion plans in India and remains subject to the execution of definitive agreements and regulatory approvals.
Prestige Group Executive Director and CEO Juggy Marwaha said HSBC's decision to establish its new campus at Prestige JRC Signature Towers reflected Bengaluru's growing importance as a global business hub and demonstrated the developer's ability to deliver large-scale commercial projects. He added that the two towers are currently under construction and are scheduled for completion by October next year.
In a separate statement, HSBC said the new campus is being developed to bring together employees who are currently working from multiple locations across Bengaluru. The bank believes the consolidated campus will improve collaboration, strengthen connectivity among teams and create a more integrated workplace.
HSBC Group CEO Georges Elhedery said India continues to be one of the bank's most important markets and among its largest global talent centres. He stated that bringing employees together under one campus would help the organisation work more efficiently, encourage closer collaboration and continue building expertise to better support customers worldwide.
India hosts HSBC's largest Global Service and Technology Centres, with more than 40,000 employees supporting the bank's global businesses, customers and operations. The latest campus development comes at a time when global capability centres (GCCs) continue to drive demand for Grade A office space in Bengaluru, with multinational firms increasingly opting for large, integrated campuses offering modern infrastructure and long-term scalability.
Bengaluru-based Prestige Estates Projects Ltd is one of India's leading real estate developers with a presence across major cities. The group has delivered 313 projects covering 206 million sq ft and currently has a development pipeline of 128 projects spanning around 195 million sq ft across residential, commercial and hospitality segments.
Source PTI
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