Core Insights - State Bank of India (SBI) has leased approximately 1.35 lakh sq ft of office space in Airoli for its Global IT Centre, highlighting Airoli's emergence as a hub for Global Capability Centres (GCCs) [1][4] Company Summary - SBI has signed a lease for office space at Newa Bhakti Knowledge City, owned by Newa Technocity (India) Private Limited, with the lease commencing on February 15, 2026 [2] - The leased area spans floors four to nine, covering a total carpet area of 1,34,744 sq ft [2] - The monthly rent is approximately ₹125.05 per sq ft, leading to a total monthly expenditure of around ₹1.68 crore, which includes fit-outs for a plug-and-play setup [3] - The lease is set for five years, with a security deposit of ₹10.11 crore and a provision for a 15% rent escalation upon renewal after five years [3] Industry Summary - The lease by SBI underscores the ongoing preference for Airoli as a key location for GCCs in the Mumbai Metropolitan Region (MMR), reflecting strong demand for high-quality IT infrastructure [4] - Airoli is recognized as a rapidly developing real estate micro-market, primarily driven by its status as a major IT/ITES hub [4] - Recent leasing activity, including a large office space lease by Wipro Limited in Airoli, indicates a growing attractiveness of the area amid evolving workplace strategies in the MMR [5]