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ExxonMobil Services and Technology Private Limited has taken on lease 2.35 lakh sq ft of office space in Whitefield, Bengaluru, at a monthly rent of ₹1.86 crore.
Bengaluru: ExxonMobil Services and Technology Private Limited, the India arm of the Texas-based energy company, has leased 2.35 lakh sq ft of office space in Whitefield, Bengaluru, at a monthly rent of ₹1.86 crore, according to property documents accessed by Propstack.
The office space has been taken on lease for three years at the ITPB Inventor building, a commercial property owned by Information Technology Park Limited.
According to the lease documents, ExxonMobil has rented 235,300 sq ft of office space across seven floors of the building. These include the first, second, third, fourth, sixth, seventh, and eighth floors.
The lease has been signed at a rental rate of ₹79 per sq ft per month. The company has also paid a security deposit of ₹5.58 crore.
The agreement includes a 5% annual increase in rent during the lease period.
The lease documents state that the rent will be paid on a quarterly basis. ExxonMobil will pay the rent in advance before the 10th business day of the first month of every quarter, based on the rent commencement dates for different phases of the agreement.
An email seeking comments was sent to ExxonMobil Services and Technology Private Limited. The story will be updated if the company responds.
Commenting on the transaction, Raja Seetharaman, Co-founder of Propstack, said the deal reflects the increasing demand from Global Capability Centers (GCCs) for high-quality office buildings.
According to him, leasing multiple floors in a premium commercial property shows that multinational companies continue to see India as an important destination for technology and business operations.
A Global Capability Centre (GCC) is a fully owned offshore or nearshore centre set up by a multinational company to manage specialised business and technology functions.
Bengaluru remained India's largest office leasing market during the January-March 2026 quarter, according to a recent report by JLL.
The city accounted for 24.8% of the country's total office leasing activity, with Global Capability Centers contributing nearly 70% of all leasing transactions. This was the highest GCC share recorded in the city in the past two years.
The strong demand highlights Bengaluru's position as India's leading destination for technology companies and multinational businesses looking for premium office space.
This is not the company's first major office deal in Bengaluru.
Last year, ExxonMobil renewed the lease for nearly 5.31 lakh sq ft of office space at Prestige Shantiniketan in Whitefield for five years.
The office space is spread across multiple floors in the Crescent 1 and Crescent 2 towers. The lease began on November 1, 2023, with a monthly rent of ₹2.60 crore. The agreement also includes an option to extend the lease for another five years.
The latest transaction further strengthens Whitefield's position as one of Bengaluru's most active commercial office markets, driven by strong demand from multinational companies and Global Capability Centers.
