Global steel and mining major ArcelorMittal has made a significant expansion move in India by leasing nearly 1 lakh square feet of office space in Pune, reaffirming the city's growing importance as a hub for Global Capability Centres (GCCs). The company's GCC arm has taken up space at Nalanda SEZ IT Park, committing to a monthly rental outgo of ₹62.6 lakh.

The transaction stands out as one of the notable large-format office leases in Pune's commercial real estate market in recent months, underlining sustained demand from multinational corporations for high-quality office infrastructure in India.

ArcelorMittal GCC has leased approximately 97,000 to 1,00,000 square feet at Nalanda SEZ IT Park, a well-established IT and commercial destination in Pune. The lease agreement involves a monthly rental of ₹62.6 lakh, translating into a significant long-term commitment to the city.

The space has been taken on lease for the company's Global Capability Centre operations, which typically support core global functions such as technology services, engineering, finance, analytics, and business process operations.

Pune has steadily emerged as one of India's most preferred destinations for GCC expansion due to its strong talent pool, cost efficiency, robust IT ecosystem, and improving infrastructure. The city offers a large base of skilled professionals across engineering, technology, and management disciplines, making it an ideal choice for multinational corporations seeking scalable operations.

The presence of Special Economic Zones such as Nalanda SEZ further adds to Pune's attractiveness by offering compliant infrastructure, operational efficiencies, and a mature business environment.

ArcelorMittal's decision to expand its GCC footprint in Pune reflects growing confidence in the city's ability to support complex global operations over the long term.

ArcelorMittal has been steadily strengthening its presence in India, not only through manufacturing and joint ventures but also by expanding its global services and digital capabilities. The Pune GCC plays a critical role in supporting the company's global operations, including technology enablement, data-driven decision-making, and operational support.

By leasing a large contiguous office space, the company signals long-term growth plans for its India-based GCC, aligning with broader trends where global firms are centralising strategic functions in India.

Large-scale leases such as this highlight continued momentum in Pune's commercial real estate sector, particularly within the IT and GCC segments. Despite evolving workplace strategies globally, demand for quality office space in established business parks remains strong, especially from multinational occupiers.

The deal is expected to reinforce confidence among developers and investors in Pune's office market, especially in SEZ and Grade A commercial assets catering to global occupiers.

ArcelorMittal's Pune lease adds to the growing list of global corporations expanding their GCC operations in India. With competitive costs, a deep talent ecosystem, and improving urban infrastructure, India continues to strengthen its position as a global hub for capability centres.

This transaction not only reflects ArcelorMittal's long-term commitment to India but also underscores Pune's rising stature as a key node in the country's GCC and commercial real estate landscape.

ArcelorMittal GCC's decision to lease nearly 1 lakh sq ft at Nalanda SEZ IT Park for ₹62.6 lakh per month highlights both the company's long-term commitment to its India operations and Pune's growing relevance as a Global Capability Centre hub. The transaction underscores sustained demand for quality office space from multinational occupiers and reinforces Pune's position as a preferred destination for large-scale, high-value commercial leasing in India's evolving office real estate market.