US Fintech company FIS renews big office lease at Pune's Westend Centre

MUMBAI: US-based fintech company FIS Solutions has renewed its lease of over 2.28 lakh sq ft office space at Westend Center One in Pune's Aundh locality, two persons familiar with the development said.

The Jacksonville, Florida-based company, earlier known as Sunguard Solutions, will pay monthly rental of Rs 54 per sq ft, taking the total lease rental payout to nearly Rs 15 crore for the next five years. Besides, it paid two months' rent as security deposit for the deal.

ET's separate email queries to both FIS Solutions and Daksha Infrastructure's group company Suma Shilp remained unanswered until the publication of this report.


FIS serves more than 20,000 clients in over 130 countries. It employs more than 55,000 people worldwide and holds global leadership positions in payment processing, financial software and banking solutions.

The growth of the information technology and IT-enabled services sector has been facing headwinds over the past few quarters.Nasscom, India's software industry body, has trimmed the sector's estimated growth to 8-10 per cent in 201617 from 10-12 per cent previously.

The fallout of Britain's exit from the European Union and threat of protectionism in the key market of the US are among the factors that have resulted in lower growth expectations. Absorption of commercial real estate in India is driven by IT, ITeS entities, with North American companies absorbing over 80 per cent of the total for this sector.

This share has been receding over the past few years as the banking, financial services and insurance sector has witnessed steady growth.