JP Morgan Expands India Presence With Mega Office Lease in Mumbai’s Powai
By Cygnus | 13 Jan 2026
JP Morgan Services India Pvt Ltd has signed a major office lease in Mumbai’s Powai, underlining the global bank’s continued expansion of its India operations as it scales technology, analytics and back-office capabilities.
Lease registration documents and property market reporting indicate the company has taken about 2.71 lakh sq ft at One Downtown Central (formerly CRISIL House), with a total rental commitment of around ₹612 crore over five years.
The agreement, registered in late December 2025 and reported on January 12, 2026, will see JP Morgan occupy the ground floor and floors three through nine of the building.
Lease terms: start date April 1, high-value five-year commitment
According to the reported lease details:
- Lease commencement: April 1, 2026
- Starting monthly rent: about ₹9.23 crore (roughly ₹339 per sq ft)
- Security deposit: about ₹55.38 crore
- Stamp duty: over ₹7 crore
The transaction is among the largest corporate flexible workspace-related lease commitments seen in India in recent years, according to property market observers.
A bridge to a larger long-term GCC plan
Real estate and industry sources have described the Powai lease as a near-term scaling step alongside JP Morgan’s longer-term development plans.
In recent weeks, the bank also confirmed a separate $1 billion partnership with Brookfield to develop a built-to-suit Global Capability Centre (GCC) campus of about 1.3 million sq ft at One Forest Avenue in Powai, with completion targeted around 2030.
The current office space at One Downtown Central is operated by Cowrks India as a managed workspace arrangement, while the building is owned by Kairos Properties, a Brookfield entity — a structure that allows rapid seat expansion while the larger campus is built.
Facility highlights: high-density operations setup
The new premises is designed for large-scale, collaboration-heavy functions. As per the reported facility configuration, it includes:
- 2,381 workstations and 257 meeting rooms
- 312 car parking spaces
- 30-month lock-in period, providing operating stability into late 2028
Summary
JP Morgan Services India has committed around ₹612 crore over five years for a 2.71 lakh sq ft office lease at One Downtown Central in Powai, Mumbai, according to lease registration details and property market reporting. The workspace, managed by Cowrks India and owned by a Brookfield entity, is expected to support rapid scaling of JP Morgan’s India teams and serves as a bridge to the bank’s larger planned 1.3 million sq ft GCC campus being developed nearby.
Frequently asked questions (FAQs)
Q1: Is this JP Morgan’s new India headquarters?
It is a major Powai hub, but JP Morgan is also planning a much larger built-to-suit campus nearby, which could eventually consolidate or expand operations.
Q2: Who owns and operates the property?
One Downtown Central is reported to be owned by Kairos Properties (a Brookfield entity), while Cowrks India operates the space as a managed/flexible office arrangement for JP Morgan.
Q3: What is the rent per square foot?
The starting monthly rent is reported at roughly ₹339 per sq ft.
Q4: Is this among the largest office deals in India?
Yes. Property market observers describe it as among the largest flexible workspace-linked enterprise commitments in India, based on total rental value and leased area.
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