SBI expands real estate footprint with ₹414 crore Pune acquisition

The State Bank of India has completed the acquisition of a substantial commercial property in Pune's Kharadi locality for ₹414 crore, according to sources familiar with the transaction. The deal grants SBI full ownership of a 1.84 lakh square foot building along with leasehold rights over the 8,581 square metre land parcel on which it stands.

The property acquisition underscores the banking giant's ongoing efforts to consolidate and expand its physical infrastructure across major metropolitan areas in India. Real estate holdings remain strategically important for financial institutions as they establish regional headquarters, operational centres, and customer-facing branches.

Kharadi, located on Pune's eastern periphery, has emerged as a significant commercial and IT hub over the past decade, attracting substantial corporate investment. The neighbourhood's growth trajectory has made it an attractive location for institutional buyers seeking long-term asset appreciation potential.

The acquisition reflects SBI's continued capital deployment in strategic real estate markets, supplementing its existing property portfolio across India's key economic centres. Such investments provide the bank with operational flexibility and ownership control over critical facilities supporting its growing business operations.