Wipro Expands Footprint with 1.45 Lakh Sq Ft Lease at Mindspace Airoli, Navi Mumbai
IT major Wipro Limited has further expanded its presence by leasing 1.45 lakh sq ft of commercial space in Mindspace Business Parks, Airoli, near Mumbai, for a period of five years at a total rent of over ₹61 crore, according to property registration documents accessed by CRE Matrix.
The new lease expands Wipro’s existing footprint in the business park, where it leased 3.87 lakh sq ft last year for a starting monthly rent of over ₹2.47 crore.
The agreement, signed with Mindspace Business Parks Private Limited, commences on April 1, 2026, and is valid for five years (60 months), as per the documents. The property will be handed over to the company on January 7, 2026, for which the transaction was registered on December 29, 2025.
The company will pay a security deposit of ₹5.83 crore, and a lock-in period of 36 months applies to the transaction. The monthly rent and security deposit both will increase by five per cent annually, the documents show. The starting monthly rent for the commercial space is over ₹97 lakh.
The commercial office space was leased along with 97 car parking spaces, and a stamp duty of over ₹78 lakh and a registration fee of ₹30,000 were paid for the transaction. An email query has been sent to Mindspace Business Parks REIT and Wipro Limited. If a response is received, the story will be updated.
Mindspace Business Parks in Airoli, Navi Mumbai, is home to several prominent domestic and international companies across various sectors, including IT, consulting, healthcare technology, and financial services. Some of the key occupiers include Wipro, L&T Infotech (LTI), LTI–Mindtree, Accenture, Cognizant, IBM India, CRISIL (a subsidiary of S&P Global), Axis Bank, Capgemini India, among several others.
In May 2025, Wipro Limited leased 3.87 lakh sq ft of commercial space in Mindspace Business Parks, Airoli, near Mumbai, at a monthly rent of ₹2.47 crore, according to property registration documents accessed by Propstack. According to the documents, Wipro will occupy eight floors (4th to 11th) in the building, with a carpet area of 270,949 sq ft and a chargeable area of 387,072 sq ft. The lease has been locked in at a monthly rental rate of ₹64 per sq ft, bringing the total monthly rent to approximately ₹2.48 crore. A security deposit of ₹14.86 crore and an annual rental escalation of 5% are also included.
