Recent researches focus on the development of lubricants from non-edible vegetable oil which are environment friendly and renewable. In the current work, an industrial lubricant is formulated from a non-edible vegetable oil viz. pongamia oil (PO) by blending it suitable additives. The additives such as silicon dioxide (SiO2) nanoparticles, tert-butylhydroquinone (TBHQ) and styrene butadiene rubber (SBR) were selected as antiwear, antioxidant and viscosity improver additives respectively for the study. Various lubricant properties of the formulated oil (FO) are studied and comparisons were made against neat PO and popularly available mineral oil lubricant viz. SAE 20W40. It is found that the FO possesses superior viscosity index, and lower coefficient of friction than the commercial SAE 20W40. Moreover, the viscosity range, oxidative stability and the wear scar diameter of the FO is also in the range of SAE 20W40. This work is done with an aim of promoting Pongamia agriculture and reducing soil pollution.