SMFG India Credit Co, part of Japanese conglomerate Sumitomo Mitsui Financial Group and Singapore’s Fullerton Financial Holdings (FFH), has signed a lease agreement for 1.94 lakh square feet of office space at Embassy Office Parks REIT’s property Embassy 247 in Mumbai
This is SMFG’s biggest office space in the country and is in line with its growth plans in India.
“With this deal, SMFG India Credit aims to consolidate its offices in Powai and Andheri into a single office, the biggest in the country, and establish a strategic centralised location for back and mid-office functions for over 2,000 employees,” a release said.
SMFG India Credit’s corporate office will continue to be in BKC, Mumbai.
Embassy 247 is a premium office park with a total area of 1.18 million square feet in Mumbai’s eastern suburb of Vikhroli. SMFG India Credit has leased the office space, spread across the ground, first and eleventh floor in the building.
“SMFG’s presence in India is expanding, and we wanted to have a strategically located, high-quality business space with cutting-edge infrastructure for our employees,” said Swaminathan Subramanian, Chief Operating Officer at SMFG India Credit.
Cushman & Wakefield facilitated the transaction for SMFG.