HSBC's 1.2 Million Sq Ft Bengaluru Campus: What This Prestige Group Deal Says About India's Office Market

India's office market just received one of its most significant endorsements of the year. HSBC has signed a Letter of Intent with Prestige Group to develop a fully integrated 1.2 million sq ft campus on Bengaluru's Outer Ring Road. The project, named Prestige JRC Signature Towers, will be one of the largest single-occupier office campuses in the country once complete.

Prestige Group will develop Prestige JRC Signature Towers across 7.2 acres in Kariyammana Agrahara, Bellandur, right on the Outer Ring Road. Two towers rising to Ground plus nine floors will deliver approximately 1.18 million sq ft of premium Grade A workspace. Building one covers 4,08,083 sq ft. Building two, the larger of the two, spans 7,05,221 sq ft. Project completion is targeted for Q2 of 2028.

HSBC has committed to a 20-year pre-lease arrangement, making this one of the longest office lease tenures signed by any major bank for a single India location.

This is not a conventional office expansion. HSBC's stated goal is to bring together colleagues currently spread across multiple Bengaluru locations onto one unified campus. That consolidation strategy directly mirrors what Accenture is doing in Pune, and it reflects a wider pattern among global financial institutions and tech companies recognising that fragmented city-wide offices create collaboration friction that integrated campuses solve.

Georges Elhedery, Group CEO of HSBC, described India as one of the most important talent centres in the world and positioned this campus as an enabler of faster decision-making and closer collaboration across the bank's India teams.

Bellandur on ORR sits at the intersection of Bengaluru's most active employment corridors. Marathahalli, Sarjapur Road and Whitefield are all within 15 to 20 minutes. The Outer Ring Road itself provides direct connectivity to Electronic City in the south and Hebbal in the north. Proximity to Sakra World Hospital and the existing dense residential belt makes this location genuinely liveable for employees, not just logistically convenient.

For a bank housing thousands of technology, operations and banking professionals, access to housing, healthcare and transport infrastructure is not incidental. It is part of the location case.

This pre-lease is a significant commercial milestone for Prestige Group, which is currently developing approximately 9.52 million sq ft of Grade A commercial pipeline across nine Bengaluru campuses. The HSBC commitment provides income visibility over two decades on one of the group's largest office sites, which directly strengthens the investment case for Prestige's commercial portfolio with both lenders and institutional investors.

Prestige Estates reported record pre-sales of Rs 30,024 crore for FY26, up 76 percent year on year. The HSBC deal adds long-term rental income certainty to an already strong residential sales story.

Bengaluru absorbed 20 million sq ft of office space in a recent quarter, the highest ever recorded for that period. The HSBC pre-commitment adds a further 1.2 million sq ft to confirmed upcoming absorption. Deals of this size and tenure tighten future Grade A supply, push up asking rents in the ORR and Bellandur micro-market, and validate Bengaluru's position as the preferred destination for global banks and technology firms building large India operations.

Peripheral ORR locations that were considered secondary just four years ago are now attracting flagship deals. That repricing of the corridor is structural, not temporary.

HSBC has signed an LOI with Prestige Group to pre-lease 1.2 million sq ft at Prestige JRC Signature Towers in Bellandur, Bengaluru, on a 20-year term. The 7.2-acre campus on Outer Ring Road will consolidate HSBC's scattered Bengaluru teams into one integrated workspace, targeted for delivery by Q2 2028. The deal reinforces Bengaluru's status as India's premier office destination and confirms Prestige Group's growing commercial real estate strength, building on record FY26 residential pre-sales of Rs 30,024 crore.