Welspun Enterprises Secures 4.5 Lakh Sq Ft Office Space in Pune’s Hinjewadi IT Hub
Mumbai: Welspun Enterprises Ltd has secured over 4.5 lakh sq ft of office space in Pune’s key information technology hub, Hinjewadi, through a long-term lease. This significant transaction is one of the largest office deals in the city this year.
The space has been leased at Radius IT Park, a part of the Hinjewadi IT Park cluster, from Indo Global Soft Solutions & Technologies. The lease agreement commenced on April 1, 2023. The deal spans a chargeable area of about 457,500 sq ft and over 3.29 lakh sq ft of carpet area, spread across the ground plus seven floors in the commercial development.
The lease has been signed at a starting rental of Rs 27.5 per sq ft per month, resulting in a monthly outgo of over Rs 1.25 crore. The agreement is for a tenure of five years, with a built-in escalation clause of 5% annually, reflecting steady rental growth expectations in Pune’s Grade-A office market.
Hinjewadi, one of India’s largest IT and office corridors, continues to attract occupiers across sectors due to its established ecosystem, talent availability, and relatively competitive rentals compared to other major office markets such as Bengaluru and Mumbai. The micro-market has seen sustained leasing traction from technology firms, global capability centres, and increasingly, companies from infrastructure and engineering segments.
Industry experts note that occupiers are prioritising scale, campus-style developments, and long-term leases amid evolving workplace strategies. The latest transaction underscores continued demand for large, contiguous office spaces, particularly in established business districts with ready infrastructure.
Pune has emerged as a key office market in recent years, driven by its strong talent pool and cost arbitrage, with Hinjewadi accounting for a significant share of leasing activity. The Welspun deal adds to a series of large transactions in the corridor, reinforcing its position as a preferred destination for occupiers seeking expansion outside traditional metro cores.
Welspun Enterprises, a leading player in the Indian business landscape, has been expanding its footprint across various sectors, including real estate and infrastructure. This strategic move in Pune’s Hinjewadi IT Park is expected to enhance the company’s operational efficiency and support its growth plans in the region.
