Wipro Secures 3.87 Lakh Sq Ft Office Space in Navi Mumbai’s Airoli for 10 Years
Wipro Ltd has leased eight floors, totaling 387,000 sq ft, at K Raheja Corp’s Mindspace Business Park in Navi Mumbai’s Airoli for a decade, reflecting a significant long-term commitment to the region.
WiproMindspace Business ParkNavi MumbaiOffice SpaceReal EstateReal Estate MumbaiJun 19, 2025
The IT SEZ is a property owned and operated by K Raheja Corp-backed listed Mindspace Business Parks Real Estate Investment Trust (REIT). The agreement includes a three-year lock-in for Wipro, while the lock-in for Mindspace REIT extends through the entire lease term. The company has also placed a security deposit of Rs 14.86 crore, as shown in documents accessed through realty data analytics platform Propstack.
Wipro is already one of the key occupiers in this business park, as it occupies 345,000 sq ft in another building within Mindspace Business Park. This newly added space reinforces its long-term commitment to the Mumbai office market and the SEZ. The transaction is significant given the current trends in the IT industry, where companies are recalibrating their workplace strategies. Despite the rise of hybrid work models, large corporations continue to show a strong demand for grade A office spaces in prime, well-managed campuses with future-ready infrastructure.
This deal also indicates a broader industry trend where, while office formats evolve, India’s top technology firms continue to invest in real estate in strategic locations to support their long-term growth. Lease transactions for large office spaces are witnessing a noticeable uptick across major property markets in India. This trend is driven by steady and sustained economic growth, which has strengthened business confidence and encouraged long-term expansion plans.
As companies across sectors scale operations and consolidate their footprints, the demand for quality, well-located office spaces is on the rise. This momentum is particularly evident in key urban centers, where institutional-grade developments continue to attract large occupiers seeking efficiency, scalability, and future-ready infrastructure. ET’s separate email queries to Wipro and Mindspace Business Parks REIT remained unanswered until the time of going to press.
Frequently Asked Questions
What is the total area leased by Wipro in Airoli, Navi Mumbai?
Wipro has leased 387,000 sq ft of office space in Airoli, Navi Mumbai.
How long is the lease agreement between Wipro and Mindspace Business Park?
The lease agreement is for over 10 years.
What is the monthly rent for the leased space?
The monthly rent for the leased space is Rs 2.48 crore.
Who is the owner of Mindspace Business Park in Airoli?
Mindspace Business Park in Airoli is owned and operated by K Raheja Corp-backed listed Mindspace Business Parks Real Estate Investment Trust (REIT).
What is the significance of this lease agreement in the context of the IT industry?
The lease agreement is significant as it reflects a strong commitment to maintaining a physical presence in strategic locations, despite the rise of hybrid work models.
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