German semiconductor major Infineon Technologies has leased 632,000 square feet of office space in Bengaluru’s Whitefield for a total rental outlay of more than ₹750 crore over 10 years.
According to documents accessed by Propstack, the company will pay rent for a chargeable area of 631,923 square feet, putting the monthly rental rate at ₹88 per square foot.
The firm will take space from the ground floor to the ninth floor in Whitefield’s Bagmane Solarium City, which also houses tenants such as Schneider Electric, Merck and Cognizant.
Infineon has paid a security deposit of ₹33.36 crore, the lease deed showed. As part of the agreement, the rent will escalate by 15 per cent every three years.
Propstack added that the deal also includes a rent-free period of eight months, with the lease scheduled to start on December 1, 2026.
The transaction follows Infineon Technologies’ announcement of the acquisition of Bengaluru-based fabless chip startup C2i Semiconductors, strengthening its position in power management for artificial intelligence (AI) data centres and adding to its semiconductor research and development capabilities in India.
Commenting on the deal, Raja Seetharaman, co-founder of Propstack, said Infineon’s massive 630,000-square-foot commitment in Bengaluru underscores the evolving role of India from a regional delivery hub to a primary global research and development (R&D) and AI engineering powerhouse.
“Pairing a long-term ₹750 crore commercial footprint with a high-impact local AI startup acquisition shows that global tech leaders are ready to deploy serious capital where deep engineering talent thrives,” he added.
The Infineon deal follows recent large leases in Bengaluru, such as that of the India arm of American retail giant Target Corporation, which leased over 830,000 square feet of office space in the city for ₹1,250 crore in June this year.
This comes at a time when India’s office leasing recorded a modest 3.9 per cent year-on-year (Y-o-Y) decline, with 37.9 million square feet (msf) leased in the first half of 2026 (H1 2026).
According to a report by JLL, the global capability centre (GCC) sector was the biggest contributor to office leasing volumes in H1, accounting for 15.8 msf, or a 41.6 per cent share, driven largely by global firms.
At the city level, Bengaluru retained its position as the leading office market in H1 2026, with leasing at 9.37 msf. This, however, was a 20.5 per cent decline from the 11.79 msf of office space leased in H1 2025.
