- Goldman Sachs opened a ~50% larger Mumbai office at Ascent Worli, spanning the full 10th floor and half the 9th, with upgraded collaboration and wellness-focused amenities.
- The firm leased about 73,900 sq ft for 10 years (with extensions) at over ₹2 crore per month, signaling a long-term commitment to Mumbai.
- Goldman remains a leading India investment-banking adviser, ranked #1 in announced and completed M&A since 2021 and facilitating over $10 billion in IPO and block-trade issuance since 2024.
- Its India footprint extends beyond Mumbai with major capability centers in Bengaluru and Hyderabad and more than $8.5 billion deployed in-country since 2006.
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On August 18, 2025, Goldman Sachs officially inaugurated its new Mumbai office at Ascent Worli, which will occupy the full tenth floor and half of the ninth. The facility is about 50 percent larger than its previous Mumbai location and includes features like height-adjustable desks, Zoom-enabled rooms, collaboration spaces, and an on-site café. This move reflects Goldman Sachs’ effort to enhance its physical footprint, modernise working conditions, and align Indian operations with its global workplace standards.
Leasing more than 73,900 sq ft with a monthly rent exceeding ₹2 crore (approximately US$240,000–300,000, depending on exchange), the lease is for 10 years with options to extend. The lease includes a four-year lock-in and escalation clauses typical of such high-end leases. These terms point to a strategic, long-term bet on Mumbai as a centre for global finance, supported by rising commercial real estate demand in prime locations like Worli due to upgraded infrastructure.
The expansion coincides with Goldman Sachs’ sustained leadership in India’s investment banking space: it has been ranked #1 in announced and completed M&A since 2021, per Dealogic, and has facilitated more than $10 billion in capital market transactions via IPOs and block trades since 2024, including participating in India’s largest so far this year. Concurrently, Goldman has invested over US$8.5 billion in India since 2006, indicating its dual role as both advisor and direct investor.
The establishment of global capability centres in Bengaluru and Hyderabad with thousands of professionals supports service delivery, innovation, research and technology, enabling growth of its India franchise beyond just investment banking. The move is timely as India has become the world’s fourth-largest economy, and Goldman Sachs projects strong growth in household financial savings—potentially yielding ~$9.5 trillion in inflows into financial assets over the next decade.
Strategic implications include: strengthening India as a key nerve centre for Goldman’s Asia operations; enhancing talent retention and workspace quality; better servicing both domestic and international clients; and positioning to profit from India’s capital market growth. Open questions include whether Goldman plans further regional expansion beyond Mumbai, how this move will affect its cost structures, and how competitors will respond.
Supporting Notes
- New office inaugurated Aug 18, 2025 in Ascent Worli, Mumbai; 10th floor fully, half of 9th floor; 50% larger than previous facility.
- Lease covers ~73,905 sq ft; monthly rent ~₹2.06 crore; lease term 10 years with options to extend; lock-in period 48 months; fit-out period until Sept 2025.
- Office includes conference centre, pre-function area, Zoom-enabled rooms, focus and team spaces, height-adjustable desks, multipurpose space, and café with on-site catering.
- Goldman Sachs ranked #1 in India for announced & completed M&A since 2021 by Dealogic; helped issuers raise over US$10 billion since 2024 via IPOs & block trades.
- Firm has served clients in India since early 1980s; established wholly owned onshore presence in Mumbai in 2006; deployed more than US$8.5 billion in capital in India since 2006.
- India operations include major global-capability centres in Bengaluru (opened 2004) and Hyderabad (2021), with over 8,500 professionals across these centres.