The global technology and consulting firm plans to set up a global capability centre (GCC) at the site, with occupation scheduled in two phases, culminating in June.
The total rental outgo is estimated at more than Rs 325.37 crore over the lease tenure. Of this, phase I accounts for Rs 194.16 crore and phase II for Rs 131.21 crore.
“The move is part of a broader strategy to both expand its operational footprint and consolidate existing teams into a single, integrated campus, enabling operational efficiency, scalability and alignment of functions,” said one of the persons mentioned above.
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ET’s email queries to Accenture and Phoenix Mills remained unanswered till press time.
The deal comes amid sustained momentum in India’s GCC ecosystem, with global firms expanding to tap cost efficiencies and access skilled talent.It also reflects rising pre-commitments for Grade A office space, as occupiers lock in high-quality assets early to secure long-term capacity and pricing certainty in a tightening supply environment.
The transaction is among the larger long-term office leasing deals in India and highlights continued demand from GCCs for scalable, high-quality workspaces.
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India’s office market continues to see strong activity despite geopolitical and anticipated AI-driven disruption headwinds for the sector, with gross leasing reaching 21.5 million sq ft in the first quarter—the highest for any January-March period. GCCs led demand, accounting for 45.5% of total leasing.
Located in Baner, Millennium Towers is a Grade A office development within a mixed-use ecosystem. It houses multinational tenants including MUFG Bank, Baker Hughes and Clean Harbors, reinforcing its positioning as a premium commercial destination.
Pune’s western corridor—spanning Baner, Balewadi and Wakad—has emerged as a high-growth office market, driven by talent availability, improving infrastructure and connectivity to residential clusters. The region has seen rising interest from multinational firms and GCCs seeking to expand beyond traditional IT hubs.
With upcoming infrastructure upgrades and improved connectivity, including access to Navi Mumbai International Airport, the Baner-Balewadi belt is expected to see sustained leasing momentum from global occupiers.
