CRISIL Shifts Mumbai Headquarters to Andheri East's Lightbridge IT Park in ₹597 Crore Lease Deal

The credit ratings major CRISIL has announced the relocation of its Mumbai headquarters from Powai to Saki Vihar Road, securing approximately 2.5 lakh square feet of premium office space in the Lightbridge IT Park, located in Andheri East. The transaction has been structured as a long-term commitment spanning 15 years with a total rental outlay of approximately ₹597.30 crore, according to market sources.

Lease Structure and Financial Terms

The financial services firm has committed to a monthly rental payment of ₹2.35 crore for the office space, which translates to approximately ₹94 per square foot per month. The lease agreement encompasses floors 10 through 15 of the commercial tower and incorporates an annual escalation clause of 4.77 per cent. The lease term is scheduled to commence on August 31, 2025, sources familiar with the transaction revealed.

Market Implications for Mumbai Commercial Real Estate

The headquarters relocation underscores CRISIL's sustained confidence in Mumbai's commercial office real estate market and its strategic preference for Grade-A business park locations in suburban business districts. A rental commitment approaching six hundred crore rupees over a decade and a half demonstrates the company's long-term growth trajectory and space requirements, real estate analysts observed.

For Mumbai's office property sector, large-scale leasing transactions in Andheri East of this magnitude continue to signal robust appetite from corporate occupiers, despite prevailing macroeconomic headwinds and market volatility. The transaction further validates Andheri's emergence as a preferred corporate destination, complementing established business hubs across the metropolitan region.

Industry experts noted that such substantial commitments by established financial services institutions reflect confidence in the resilience of India's office real estate sector, which has demonstrated steady fundamentals backed by technology-driven expansion and service sector growth.