Pune-based Panchshil Realty, through its subsidiary Prime Lohegaon Infraspaces LLP, has acquired Capgemini’s Knowledge Park in Airoli, Thane, near Mumbai, for ₹550 crore. This transaction, marked on September 17, 2025, is one of the largest commercial real estate deals in the Mumbai Metropolitan Region this year. The acquisition expands Panchshil’s footprint in the Mumbai commercial real estate market amid rising demand for office spaces in emerging business districts.
Major Commercial Deal in Mumbai Metropolitan Region (MMR)
The transaction involves multiple land parcels and buildings spread across 15.38 acres in the Thane Creek Industrial Area, Dighe, Airoli. The assets include five commercial office buildings, a training centre, utility structures, a visitor plaza, three cafes, and a guesthouse. The deal attracted a stamp duty of ₹27.5 crore, reflecting its significant value in the region.
Expanding Panchshil’s Commercial Real Estate Portfolio
Panchshil Realty has been expanding aggressively in the Mumbai region in 2025. Earlier, it acquired industrial land parcels in Ghansoli, Navi Mumbai, for ₹615 crore. With a portfolio comprising 22.77 million square feet of developed office space and an active pipeline of 32.1 million square feet, Panchshil is positioning itself as a key player in India’s commercial real estate market. The Knowledge Park acquisition further bolsters their presence in peripheral business districts, which are seeing strong demand driven by the IT/ITeS sector.
Strategic Location and Tenant Profile
Airoli’s location in the Thane Creek Industrial Area offers excellent connectivity to Mumbai and Navi Mumbai and is emerging as a busy IT hub. The campus hosts technology firms such as Here Technologies, GEP, Atos Global IT Solutions, and Solcen Technologies, providing immediate rental income and growth potential for Panchshil. The area benefits from enhanced infrastructure, metro expansions, and affordable office spaces, attracting both occupiers and investors.
FlexInsights Take
This transaction showcases the ongoing shift in Mumbai’s commercial real estate towards peripheral business districts with ready infrastructure and growth potential. For developers like Panchshil, acquiring income-yielding tech parks diversifies risk and accelerates market penetration in key metro clusters. The sizeable ₹550 crore deal, coupled with robust portfolio expansions, highlights investor confidence in Mumbai’s secondary office markets. As hybrid work evolves, consolidations of corporate campuses like Capgemini’s Knowledge Park become attractive acquisition targets. Overall, Panchshil’s strategic acquisitions reflect wider urban decentralisation trends and growing suburban business districts shaping India’s office real estate landscape.
