Wipro Expands in Navi Mumbai, Leases 3.87 Lakh Sq Ft at Mindspace Airoli
Wipro has expanded its footprint in Navi Mumbai by leasing 3.87 lakh sq ft of commercial space at Mindspace Airoli, at a monthly rent of ₹2.47 crore. This move solidifies Wipro's commitment to the region and adds to its existing 3.45 lakh sq ft in the business park.
WiproMindspace AiroliNavi MumbaiCommercial Real EstateIt CompaniesReal Estate MumbaiJun 19, 2025
The new lease expands Wipro’s existing footprint in the business park, where it currently occupies 3.45 lakh sq ft. This strategic move underscores Wipro’s commitment to leveraging the robust infrastructure and talent pool available in Navi Mumbai.
The agreement, signed with Mindspace Business Parks Private Limited, commenced on July 31, 2024, and is valid for 10 years (120 months), 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.
Documents show that the lease has been locked in at a monthly rental rate of Rs. 64 per sq ft, bringing the total monthly rent to approximately ₹2.48 crore. A security deposit of Rs. 14.86 crore and an annual rental escalation of 5% are also included.
The lease agreement in the form of two transactions was registered on May 21, 2025, for which a stamp duty of nearly ₹13 lakh was paid and a registration fee of ₹60,000, the documents show. 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 in sectors like IT, consulting, healthcare tech, 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.
This expansion by Wipro reflects the growing demand for quality office spaces in Navi Mumbai, a region that is rapidly emerging as a key hub for IT and related industries. The strategic location and state-of-the-art facilities at Mindspace Airoli make it an attractive choice for companies looking to establish or expand their presence in the region.
Frequently Asked Questions
What is the total area leased by Wipro in Mindspace Airoli?
Wipro has leased 3.87 lakh sq ft of commercial space in Mindspace Airoli, near Mumbai.
What is the monthly rent for the leased space?
The monthly rent for the leased space is ₹2.47 crore.
When did the lease agreement commence?
The lease agreement commenced on July 31, 2024, and is valid for 10 years.
How many floors will Wipro occupy in the Mindspace Airoli building?
Wipro will occupy eight floors (4th to 11th) in the building.
What is the annual rental escalation rate?
The annual rental escalation rate is 5%.
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