Ola's Significant Office Lease Renewal in Bengaluru's Koramangala

Ola has renewed its office lease for 4.27 lakh square feet at Prestige RMZ Star Tech in Bengaluru's Koramangala, committing nearly ₹281 crore.

Bengaluru's commercial real estate scene rarely sits still, and the latest move from Ola only confirms that. The company has gone ahead and renewed its office footprint in the city, locking in a five year commitment worth roughly two hundred eighty one crore rupees. For a market that has seen plenty of churn lately, this renewal carries some weight.

According to documents reviewed by the property data platform Propstack, two separate Ola group entities have renewed leases covering a combined 4.27 lakh square feet at the Prestige RMZ Star Tech campus in Koramangala. The agreements were registered earlier this year but apply retroactively, with the lease term beginning on October 16, 2025. Together, the two deals add up to a monthly rental outgo of close to ₹4.4 crore, calculated at a rate of ₹103.5 per square foot.

What makes this transaction interesting is the structure. Ola Electric Technologies renewed terms for around 1.68 lakh square feet across three floors, while ANI Technologies, the parent entity behind the Ola cab business, separately renewed roughly 2.59 lakh square feet spread across six floors in the same building. Both leases run identically for five years and carry the same per square foot rate, which suggests a coordinated renewal rather than two unrelated negotiations.

Ola Electric has put down a security deposit in the range of four and a half crore rupees for its portion of the space. The lease also includes a built in rent escalation of fifteen percent after the third year, a fairly standard clause in long term commercial leases of this size in Bengaluru. ANI Technologies, given its larger floor area, has reportedly deposited a considerably higher security amount.

Koramangala has long been a magnet for tech and mobility companies, and Prestige RMZ Star Tech sits right in the thick of that ecosystem. Despite newer commercial corridors opening up along the Outer Ring Road and in Whitefield, established hubs like this one continue to hold their pull. Companies that grew up in these neighbourhoods often choose to stay, even when cheaper or newer alternatives exist elsewhere in the city.

This renewal does not exist in isolation. Bengaluru has consistently held its position as India's largest office market, and recent leasing activity across the city has been unusually strong. Around the same period, Target's India arm leased a much larger eight lakh thirty thousand square feet at Embassy Manyata Business Park, while Honeywell signed for roughly four lakh square feet in Bellandur. Clearly, demand for quality office space in Bengaluru has not slowed, even as remote work conversations continue elsewhere.

It is worth mentioning, almost as a side note, that Ola has also been trimming office space elsewhere in the city around the same broader period, citing automation reducing the need for certain operational teams. That might sound contradictory at first glance. But it actually fits a pattern many large companies follow now, holding onto core strategic locations while shedding space tied to functions that no longer need a physical desk.

For commercial landlords and REITs operating in Bengaluru, transactions of this size offer a reassuring signal. Long term renewals, especially ones involving escalation clauses, indicate that anchor tenants still see value in staying put rather than relocating to cut costs. That stability matters for rental yield projections across the broader Bengaluru office market, which institutional investors track closely.

Whether Ola expands further within this campus or consolidates elsewhere remains to be seen. What is clear, though, is that Bengaluru's office leasing momentum shows no real signs of slowing down, at least not for established tech and mobility players with deep roots in the city.

Ola has renewed its office lease for 4.27 lakh square feet at Prestige RMZ Star Tech in Bengaluru's Koramangala, committing nearly ₹281 crore over five years. The deal, split between Ola Electric Technologies and ANI Technologies, reflects continued confidence in Bengaluru's commercial real estate market despite automation reshaping parts of the company's office needs elsewhere. With major leases by Target and Honeywell also closing recently, Bengaluru's office leasing momentum remains strong heading into the year.