Panchshil Office Parks Commissions Phase II of Panchshil Business Park at Baner-Balewadi in Western Pune's Business District

Panchshil Realty

2021/1/14 16:31



PUNE, India, Jan. 13, 2021 /PRNewswire=KYODO JBN/ --


- Qualys, VMWare & Veritas amongst the latest anchor occupiers to lease office space there



    Panchshil Office Parks — a unit of Pune-based Panchshil Realty — today

announced the commissioning of Phase II of Panchshil Business Park located in

western Pune's prime business district of Baner-Balewadi.



    T-Systems, the first anchor occupier has taken up 419,000 square feet of

office space here and the new anchor occupiers expected to go live

progressively in the coming weeks include:


    - Qualys – 281,000 square feet

    - Veritas – 273,000 square feet

    - VMware – 189,000 square feet


    The new anchor occupiers join leading companies like T-systems, Siemens,

Fundtech, Thyssenkrupp, Nutanix, Redbrick and The Executive Centre, who have

all leased space for their long-term requirements in Phase II of Panchshil

Business Park which encompasses an area of 1.6 million square feet and is

jointly developed and owned by Panchshil Realty and Blackstone Real Estate Partners.


    Spread over 2.7 million square feet, Panchshil Business Park is strategically

located just off the arterial Mumbai-Bengaluru highway. Phase I spread over

1.1 million square feet was developed by Panchshil Realty and sold to Cummins

for its India headquarters.


    Atul Chordia, Chairman, Panchshil Realty, said, "I am delighted to announce

the commissioning of Phase II of Panchshil Business Park and am pleased to

welcome our occupier-partners. The strong leasing success for our office

spaces at Panchshil Business Park and the continued uptake of our projects by

marquee corporate occupiers, coupled with the keen interest in our upcoming

projects indicates the continued attractiveness and resilience of the Pune

office market and the superior Panchshil offering. This trend pretty much

mirrors the significant traction seen in the recent past in some key office

markets in the country. We expect leasing activity and occupier-demand for our

pipeline and current offerings to continue to remain buoyant and robust in the

coming months too".


    Key highlights of Panchshil Business Park include:


    - It has been awarded the pre-certification for LEED Gold by the U.S. Green

Building Council (USGBC) which is an internationally acclaimed green building

sustainability rating.

        - The mission of LEED--the leading program for green buildings and

communities worldwide- is to transform the way buildings and communities are

designed, built and operated, enabling an environmentally and socially

responsible, healthy, and prosperous environment that improves the quality of life.

    - It is assessed, audited and certified by the British Safety Council as

having implemented, proper and adequate policies, procedures and arrangements

relating to control of COVID-19 within the workplace, in accordance with the

Indian government and British Safety Council guidelines

        - Notably, Panchshil Realty was the first real estate group in India

and in the entire Asia-Pacific Region to have benchmarked and independently

validated its COVID-19 related control measures at its workplaces.

    - Business support amenities provided include an expansive 80,000 square

feet multi-cuisine food court, auditoriums, a health club, a range of F&B and

lifestyle outlets and multi-level parking space.


    Panchshil Office Parks


    Panchshil Realty's office portfolio in Pune comprises over 17.5 million

square feet of landmark projects like EON Free Zone, World Trade Centre,

Business Bay and the International Convention Centre and, its campuses are home

to leading global corporations like Allianz, Citibank, Cognizant, Concentrix,

Credit Suisse, Deutsche Bank, HSBC, MasterCard, Michelin, UBS and Vodafone

among many others.


    Panchshil's Businesses – Key Highlights

    - Panchshil Realty's total completed real estate portfolio is around 23

million square feet with another 20 million square feet under development.

    - Panchshil Realty's three main business verticals comprise commercial

office spaces, hospitality and residential.

    - A significant chunk of Panchshil Realty's office portfolio is anchored by

Blackstone Real Estate Private Equity Fund, sponsored and managed by Blackstone

Group LP.


    About Panchshil Realty


    Established in 2002, Panchshil Realty is one of India's finest luxury real

estate brands. Renowned for leadership and excellence in real estate

development, the Group's approach is focused on planned development, creating

value assets, and crafting lifestyle experiences through design and

architecture. For more information, please visit





    Source: Panchshil Realty