Corporate office demand in Mumbai’s satellite business districts continues to gain traction as large technology firms scale up physical operations.
Wipro has leased 145,157 sq. ft of office space at Mindspace Business Parks in Airoli East, Navi Mumbai, for a tenure of 5 years. The lease reflects the company’s growing presence in the Mumbai Metropolitan Region.
The Bengaluru-headquartered firm will pay a monthly rent of ₹97.25 lakh, calculated at ₹67 per sq. ft, with an annual rent escalation of 5%. The space has been leased from Mindspace Business Parks, a unit of Mindspace REIT, according to registration documents accessed by a real estate analytics firm.
As per the documents, possession of the office space is scheduled for January 7, with rental payments beginning from April 1. The agreement also includes a rent-free period of 84 days.
This transaction follows a much larger expansion by Wipro at the same location last year, when it leased 387,000 sq. ft for a monthly rent of ₹2.47 crore.
“The lease of 145,157 sq. ft at Mindspace SEZ, Airoli by Wipro from Mindspace Business Parks underscores the structural strength of Navi Mumbai’s SEZ office market. The transaction reflects how large IT occupiers continue to prioritise long-term cost visibility and operational scale over short-term flexibility,” said Abhishek Kiran Gupta.
He added that such deals reinforce Airoli’s position as a cost-efficient extension of Mumbai’s office ecosystem, offering stability and scalability for institutional landlords and large tenants.
After slowing office expansion following the pandemic, IT firms are increasing space requirements as employees return to physical workplaces. In 2025, Tata Consultancy Services leased 1.4 million sq. ft in Bengaluru’s Electronic City.
Overall office leasing activity reached a record 82.6 million sq. ft across India’s top 9 cities in 2025, up from 79 million sq. ft in 2024, led by technology firms and flexible workspace operators.
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