SBI Leases 134,000 Sq Ft Office Space in Navi Mumbai for Global Capability Centre

State Bank of India (SBI), through its State Bank Global IT Centre, has leased approximately 134,000 square feet of office space across multiple floors in Newa Bhakti Knowledge City, Airoli, Navi Mumbai, for its Global Capability Centre (GCC). The five-year lease carries a monthly rent of Rs 1.68 crore, with a 15% escalation clause upon renewal. SBI paid a security deposit of Rs 10.11 crore. Industry experts note this reflects strong demand for quality IT infrastructure in the Mumbai metropolitan region to support digital banking operations.