Morgan Stanley, EY & Zomato drive office leasing
January 27, 2026
Morgan Stanley, EY, Zomato office leases, DLF earnings, major land deals, redevelopment projects and housing sales trends in Jan 2026.
1. Morgan Stanley Advantage Services leases office space in Bengaluru for ₹1.92 cr a month
- The lease spans the 8th and 9th floors of the building, with a total chargeable area of 1,58,533 sq ft
- The office is located at Ecoworld, Outer Ring Road–Sarjapur corridor, a prime commercial hub
- The company will pay a monthly rent of ₹1.92 cr which translates to ₹121 per sq ft
- The property is part of Brookfield Properties’ portfolio, originally developed by RMZ
2. DLF net profit climbs 14% in Q3 FY26 but sales bookings drop sharply
- Total income increased sharply to ₹2,479 cr in the October–December quarter, up from ₹1,737 cr last year
- Sales bookings fell significantly to ₹419 cr in Q3 FY26, down from ₹12,039 cr in the year-ago period when “The Dahlias” was launched
- DLF has developed more than 185 real estate projects and an area of more than 352 million square feet
- Net profit for the first nine months of FY26 stood at ₹3,146 cr slightly higher than ₹3,084 cr last year
3. EY Global Delivery Services secures office lease for ₹98.5 lakh monthly rent in Noida
- The office space located in Sector 144, Noida spans four floors in Tower 2 of the business park
- The agreed rental rate is around ₹57 per sq ft, with a 15% rent escalation after three years
- EY Global Delivery Services India LLP has leased 1.72 lakh sq ft of office space at Embassy Oxygen Business Park, Noida
- EY GDS has signed a lease for a period of 5 years and has paid a security deposit of ₹5.91 cr
4. MMR, Bengaluru, Pune lead with 126 land deals across India in 2025; residential projects take the largest pie
- 126 land deals covering over 3,772 acres were closed across 7 top cities in 2025, compared to 133 deals over 2,514 acres in 2024
- Pune ranked third with 18 land deals spread across more than 308 acres
- Bengaluru followed with 27 deals covering 454 acres, reflecting sustained developer interest
- Mumbai Metropolitan Region (MMR) led land transactions with 32 deals spanning 500 acres
5. UK’s University of York leases 37,602 sq ft office space in Mumbai’s Powai for ₹50 cr
- The deal includes 27 parking spaces, with additional parking chargeable at ₹8,500 per car per month
- The lease spans the 3rd and 4th floors of the building and is for a five-year tenure
- Monthly rent rises to ₹79 lakh in Year 2, ₹83 lakh in Year 3, ₹87 lakh in Year 4 and ₹91 lakh in Year 5
- The space is located at One Boulevard, owned by Kairos Properties Pvt Ltd, a Brookfield affiliate
6. Zomato leases 2.7 lakh sq ft of commercial space in Gurugram for ₹2.3 cr monthly rent
- The lease is for a tenure of four years and 11 months, with a 15% rent escalation after three years
- Recently Zomato Hyperpure, had leased a large warehouse space measuring 5.53 lakh sq ft in Bhiwandi for ~ ₹1.7 cr per month
- The lease covers seven floors, the ground floor and floors 4 to 9, at a monthly rent of ₹2.33 cr, translating to ₹84 per sq ft per month
- The transaction also includes 371 car parking spaces, calculated at one parking space per 750 sq ft
7. Runwal Enterprises secures ₹5,000 cr cluster redevelopment in Marine Lines and Bandra
- Both projects will be executed under cluster redevelopment framework promoted by state govt to accelerate urban renewal
- Runwal plans to invest over ₹2,500 cr into redeveloping the sites, involving more than 600 existing society members
- Runwal has secured rights to develop 2 key land parcels spanning around four acres in prime South and Western Mumbai
- The Marine Lines parcel includes a sea-view site near Saifee Hospital with ~5 lakh sq ft development potential
8. Cash-strapped MTNL begins auctioning properties in Mumbai and Delhi
- MTNL has identified 94 properties in Mumbai & Navi Mumbai, of which 42 are to be sold to shore up finances
- In Mumbai, 2 properties are on the block located in Kemps Corner and Andheri West, while six properties are being auctioned in Delhi
- Similarly, there are 69 such properties up for sale in Delhi to assist the company which is unable to sevice its debt currently
- Unable to bear administrative costs, including salaries, the company had to transfer about 50% of its staff to BSNL in 2024-25
9. L&T Realty acquires land parcel for ₹448 cr in Mumbai
- L&T has acquired land spanning 1.34-acre in Mumbai’s Lower Parel–Elphinstone Road area to develop a commercial office project
- ₹300 cr will be paid in cash, with the balance settled through an area-sharing arrangement
- L&T Realty will develop a 28-floor commercial office tower on the site after acquiring land rights from AVA Smart City LLP
- The area-sharing includes 55,000 sq ft of RERA carpet non-residential/commercial space along with proportionate car parking
10. Housing sales dip 12% in 2025; Bengaluru, Hyderabad and Chennai buck the trend
- Combined residential sales in these three southern cities stood at 1,33,577 units in 2025, up from 1,15,653 units a year earlier
- Sales declined in Mumbai region, Delhi-NCR, Pune and Ahmedabad, while Kolkata and the three southern cities saw growth
- Housing sales across India’s top eight cities declined 3,86,365 units, down from 4,36,992 units in 2024
- Bengaluru sales rose 13% to 54,414 units, Hyderabad grew 6% to 54,271 units, and Chennai surged 55% to 24,892 units in 2025
Conclusion
As 2026 begins, India’s real estate market shows strong momentum across commercial leasing, land acquisitions and urban redevelopment. Large office transactions by Morgan Stanley, EY and Zomato signal continued corporate expansion, while land deals led by MMR, Bengaluru and Pune reflect sustained developer confidence. At the same time, strategic asset monetisation by MTNL and large-scale redevelopment wins by Runwal Enterprises point to active urban transformation. Although overall housing sales moderated, growth in southern cities such as Bengaluru, Hyderabad and Chennai indicates resilient end-user demand, setting a cautiously optimistic tone for the real estate cycle in early 2026.
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