SMFG India Credit Co signs lease for 1.94 lakh sq ft in Mumbai's Embassy 247

SMFG India Credit Co, a subsidiary of the Japanese conglomerate Sumitomo Mitsui Financial Group and Singapore's Fullerton Financial Holdings, has entered into a lease agreement for 1.94 lakh square feet of office space within the Embassy Office Parks REIT's property, Embassy 247, located in Mumbai. This new space represents SMFG's largest office facility in India and aligns with their expansion strategy in the country.

By securing this deal, SMFG India Credit aims to merge its offices in Powai and Andheri into a single, centralised office, which will be the largest of its kind in the country. This central location will house back and mid-office functions for more than 2,000 employees, while the company's corporate office will remain in BKC, Mumbai, a release said.

Embassy 247 is a premium office park situated in Mumbai's eastern suburb of Vikhroli, covering a total area of 1.18 million square feet. SMFG India Credit has leased office space on the ground, first, and eleventh floors of the building.

Swaminathan Subramanian, Chief Operating Officer at SMFG India Credit, expressed, "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." The real estate transaction for SMFG was facilitated by Cushman & Wakefield.