NVIDIA has leased 7.6 lakh sq ft of office space in Bengaluru at Bagmane Capital’s Memphis South Tower, in a deal valued at ₹1,230 crore over 10 years. This marks its largest office space commitment to date, as expansion fuels its global AI demand, according to documents accessed by Propstack.

NVIDIA Graphics Private Limited, the company’s Indian subsidiary, has taken up 12 floors in the tower, owned by Bagmane Constructions Private Limited, covering a chargeable area of 7,60,000 sq ft. The monthly rent works out to ₹8.59 crore, according to a report by The Hindustan Times.

The lease, classified as a fresh transaction, commenced on April 1, 2026.

The transaction included a rent of ₹113 per sq ft per month. The lease tenure is 10 years, with a security deposit of ₹34.35 crore. The agreement also includes a 15% rent escalation every three years, the documents showed.

A list of questions has been sent to NVIDIA and Bagmane. The story will be updated once a response is received.

“NVIDIA’s decision to secure a massive 7.6 lakh sq ft facility in Bengaluru is a powerful testament to India’s indispensable role in the global Artificial Intelligence ecosystem. Coming on the heels of NVIDIA crossing the historic $5 trillion market cap milestone last week, this long-term commitment, involving a total rental outflow of approximately ₹1,230 crore over the next decade, highlights the scale at which AI giants are expanding their R&D and engineering footprint in India,” said Raja Seetharaman, co-founder Propstack.

“This transaction at Bagmane Capital not only underscores the sustained demand for premium Grade-A office spaces but also reinforces the tech capital’s position as the primary destination for high-end technology and semiconductor growth,” he said.

In February 2026, Apple expanded its office footprint at Embassy Zenith in Bengaluru by leasing an additional 1.21 lakh sq ft of workspace for a monthly rent of ₹2.84 crore, taking its total occupancy in the commercial tower to 3.89 lakh sq ft. The technology major’s total rental commitment at the property now stands at around ₹1,333 crore over a 10-year lease period.

The lease covered 1,21,203 sq ft of chargeable area spanning the ground to fourth floors. The space was taken at a rental of ₹235 per sq ft per month. The landlord is MAC Charles (India) Limited, and the transaction is for 10 years commencing September 25, 2025, the document showed.

Apple paid a security deposit of ₹14.24 crore. The lease carries an annual escalation of 4.5%, from April 3, 2026, it showed. The transaction has a lock-in period until April 2, 2030. The company will also pay an additional ₹11.07 lakh rent for 123 car parking slots, the document showed.