Wipro Expands in Mindspace Airoli, Leasing 1.45 Lakh Sq Ft for ₹61 Crore

IT major Wipro Limited has expanded its footprint 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 presence 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).

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 will both increase by five per cent annually, starting at over ₹97 lakh per month. 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.

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, and many others.

In May 2025, Wipro 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. 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.

Documents show that 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.

This expansion underscores Wipro’s commitment to enhancing its operational capabilities and attracting top talent in the dynamic IT hub of Navi Mumbai. The strategic location of Mindspace Business Parks in Airoli provides easy access to amenities and a well-connected infrastructure, making it an attractive choice for leading corporations.