Wipro Secures 145K Sq Ft Office Space in Navi Mumbai’s Mindspace SEZ for 5 Years

Wipro, the Indian multinational technology firm, has secured approximately 145,000 square feet of office space in Navi Mumbai, a key part of the Mumbai Metropolitan Region (MMR). The lease agreement, which spans five years, sets the monthly rent at Rs 97.25 lakh (Rs 67 per square foot per month).

According to transaction documents accessed via CRE Matrix, a real estate data analytics firm, the new office space is located within Mindspace SEZ, situated in the Airoli East MIDC Industrial Area in Navi Mumbai. Mindspace Business Parks is the lessor for the deal.

The lease agreement includes a handover date of January 7, 2026, with the rent commencement set for April 1, 2026, following a rent-free period of 84 days. The agreement also features a lock-in period of 36 months and provides for annual rent and security deposit escalations of 5 per cent.

In addition to the rent, Wipro will be responsible for common area maintenance (CAM) charges of Rs 12 per square foot per month. The company will also receive 97 car parking spaces as part of the deal. Wipro has already paid a security deposit of Rs 5.83 crore for the space.

This latest lease is part of Wipro's ongoing expansion in Navi Mumbai. In June, the company leased an additional 387,000 square feet of office space at Mindspace Business Park in the MMR for a 10-year tenure. The monthly rent for this space is approximately Rs 2.5 crore (Rs 64 per square foot per month). This lease builds upon Wipro's existing footprint of 345,000 square feet of office space in the same business park.

Mindspace Airoli East, the location of the new lease, is a sprawling business park spread across 50.1 acres. The project has developed 4.7 million square feet (msf) with a total leasable area of 6.8 msf. According to Mindspace Business Parks’ website, this business park is the largest in the Mumbai region and has significantly transformed the commercial office space landscape in the Thane-Belapur Road micro market.

Mindspace Airoli East is part of the portfolio of K Raheja-backed Mindspace Business Parks real estate investment trust (Reit). The business park's strategic location and comprehensive facilities make it an attractive option for companies looking to expand their operations in the region.

Despite recent challenges in the IT sector, including layoffs and tariff tensions, office space signings in India continue to rise. According to Anarock, the Indian office market across the top seven cities saw an all-time high net absorption of 55.16 million square feet (msf) in 2025, marking a 10 per cent year-on-year increase. MMR, in particular, experienced a 15 per cent YoY rise in absorption to 8.23 msf, driven by strong economic growth and the demand for global capability centres.

Wipro's strategic move to expand its presence in Navi Mumbai underscores the company's commitment to leveraging the region's robust infrastructure and talent pool. This expansion is expected to support Wipro's ongoing growth and innovation initiatives, further solidifying its position in the Indian IT landscape.