World · India Bureau
SBI invests ₹414 crore in Pune property for Maharashtra regional hub
The State Bank of India has acquired a major commercial asset in Pune's Kharadi Knowledge Park to establish its Maharashtra Circle office. The acquisition includes a 15-storey building, leasehold land rights, and extensive parking facilities.
LSN India ·
State Bank of India has completed the acquisition of a significant property in Pune for ₹414 crore, marking a strategic expansion of the nation's largest lender's regional infrastructure. The purchase at Kharadi Knowledge Park will serve as the new Maharashtra Circle office, strengthening SBI's operational footprint in the state.
The comprehensive acquisition encompasses multiple components designed to support the bank's regional headquarters operations. SBI has secured leasehold rights to an 8,581-square-metre land parcel and full ownership of a 15-storey commercial building, along with 200 parking spaces to facilitate employee and visitor access.
The investment reflects SBI's commitment to modernizing its infrastructure across key regional centers. Pune, as a major financial and technology hub in western India, has emerged as a strategic location for the bank's Maharashtra operations. The Kharadi Knowledge Park location offers proximity to the city's growing business district and established corporate corridors.
This acquisition aligns with SBI's broader expansion strategy to consolidate regional operations in purpose-built facilities rather than relying on scattered office spaces. The new Maharashtra Circle office is expected to enhance the bank's service delivery capabilities and operational efficiency across the state.