Japan’s second largest bank Sumitomo Mitsui Banking Corporation has taken 49,820 sq ft of office space in Mumbai’s Bandra-Kurla Complex under a five-year rent agreement for approximately Rs 3.46 crore a month, amounting to a total of Rs 189 crore per year, according to reports. Property registration documents accessed by Propstack, claims that the premises are in Sumitomo C65, a commercial development by Goisu Realty Private Limited, the Indian real estate arm of Japan’s Sumitomo Realty & Development. The agreement was done on October 6, 2026.
Propstack’s public transaction summary identifies the leased premises as the entire ninth floor of the building and describes the 49,820 sq ft as chargeable area. It names Goisu Realty as the landlord.
Rent Payments Scheduled From June 2027
The reported rental rate of ₹694 per sq ft a month puts SMBC’s initial monthly payment at approximately ₹3.46 crore. That translates into an annualised rent of about ₹41.5 crore at the starting rate.
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Under the terms, the bank receives nine months without rent payments, with rentals scheduled to begin in June 2027. The agreement also provides for a 15% increase in rent every three years.
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The ₹189 crore figure represents the reported rental commitment across the five-year agreement. The annualised figure indicates the cost of 12 months at the initial rate, while actual payments depend on the rental schedule.
Goisu’s Earlier Deal With JPMorgan
The SMBC transaction follows another substantial leasing agreement involving Goisu Realty and financial services company JPMorgan.
In 2025, JP Morgan Private Limited pre-leased approximately 1.16 lakh sq ft in a Goisu Realty commercial development in BKC. That transaction carried a reported monthly rent of Rs 6.91 crore, according to an earlier report based on documents accessed by Propstack.
Goisu develops commercial office properties in Mumbai as part of Sumitomo Realty & Development’s presence in India. Its BKC projects place it in a district that accommodates banks, multinational businesses and public institutions, including offices of the Reserve Bank of India and the Mumbai Metropolitan Region Development Authority, as well as the US Consulate.
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