DBS Bank India has extended a ₹520 crore construction finance facility to a K Raheja Corp SPV for a 1.1 million sq ft LEED Platinum pre-certified office development in Balewadi, Pune. The project targets rising demand from GCCs and enterprises for Grade A, sustainable workplaces.
DBS Bank India has extended a ₹520 crore construction finance facility to a special purpose vehicle (SPV) of K Raheja Corp for the development of a large commercial office project in Balewadi, Pune.
The development will span about 1.1 million sq ft and is planned as a Grade A office tower with LEED Platinum pre-certification. The project is being designed around global green building standards, with sustainability built into both construction and long-term operations.
The financing comes as demand for institutional-quality office space continues to grow across India, supported by business expansion, global capability centres (GCCs) and enterprises looking for more efficient and future-ready workplaces.
Balewadi Gains Momentum as a Business Hub
Located in one of Pune’s fastest-growing commercial districts, the project is positioned to benefit from the city’s expanding technology ecosystem, skilled workforce and improving infrastructure.
Pune has emerged as a major office market for technology companies, GCCs and other knowledge-driven businesses. As occupiers become more selective about workplace quality, Grade A developments with strong amenities, sustainability credentials and operational efficiency are gaining importance.
Santanu Mitra, MD and Country Head, Corporate Banking (Large and Midcap), DBS Bank India, said, “As businesses increasingly seek high-quality, environmentally responsible workplaces, demand for future-ready commercial developments continues to grow.”
He added that the partnership reflects DBS Bank India’s focus on supporting sustainable development through tailored financing and sector expertise.
GCC Demand Shapes Pune’s Office Market
The development comes at a time when GCC expansion is reshaping demand across India’s leading office markets. Companies are increasingly seeking modern office ecosystems that can support larger teams, attract talent and meet evolving environmental standards.
Vinod Rohira, MD and CEO of K Raheja Corp, said, “Balewadi is fast becoming the epicentre of Pune’s commercial growth story.”
He added that GCCs and growth-stage enterprises are looking for “cutting-edge ecosystems built to attract top talent and support business growth,” positioning the project as a response to changing occupier expectations.
Sustainability Moves to the Core
Beyond adding office supply, the project highlights the growing role of sustainable development in India’s commercial real estate sector. LEED Platinum pre-certification places the development among projects targeting high standards for environmental performance and operational efficiency.
Rohira said sustainability “is not a feature we add on; it is integral to how we build,” while noting that DBS Bank India’s approach aligns with K Raheja Corp’s focus on sustainable, high-quality assets.
For Pune, the ₹520 crore financing signals continued institutional confidence in its office market. As GCCs and enterprises expand, developments that combine scale, location, workplace quality and sustainability could play an increasingly important role in shaping the city’s next phase of commercial growth.
Leave a Comment
You must be logged in to post a comment.