Wipro leases 145,000 sq. ft office space in Mindspace, Navi Mumbai
Bengaluru: Information technology (IT) major Wipro Ltd has increased its presence in the Mumbai Metropolitan Region and has leased 145,157 sq ft of office space at Mindspace Business Parks in Navi Mumbai’s Airoli East for five years.
Bengaluru-based company will pay monthly rent ₹97.25 lakh (at ₹67 per ft2) and the annual rent increase is 5%. The space has been leased from Mindspace Business Parks Pvt. Ltd (a unit of Mindspace REIT), according to registration documents accessed by CRE Matrix, a real estate data analytics firm.
The documents state that the office space will be delivered on January 7 and the lease will begin on April 1. The rental conditions also include an 84-day rent-free period.
Wipro has been steadily expanding its real estate footprint in the same location. The current lease follows the IT specialist’s purchase of 387,000 square feet of space at the same property for a monthly rent last year. ₹2.47 crore.
“The lease of 145,157 sq ft by Wipro from Mindspace Business Parks in Mindspace SEZ, Airoli, underscores the structural strength of Navi Mumbai’s SEZ office market. This transaction reflects how large IT users continue to prioritize long-term cost visibility and operational scale over short-term flexibility,” said Abhishek Kiran Gupta, chief executive officer (CEO) of CRE Matrix.
Gupta said deals of this nature strengthen Airoli’s position as a value-efficient extension of Mumbai’s office ecosystem, where corporate landlords and premium tenants converge on stability, scalability and predictable cash flows.
Mindspace Business Parks REIT and Wipro did not respond to queries sent by Mint.
IT companies, which were once the companies that occupied the most office space, slowed down the expansion of office space after the epidemic.
As employees return to the office, office space needs have also increased. Tata Consultancy Services in 2025 It has made one of the largest office leases in recent times by renting 1.4 million sq ft at 360 Business Park in Electronic City in suburban Bengaluru.
Technology and flexible workspace operators led office absorption activity in 2025, reaching a record high of 82.6 million sq ft (in gross rental) across the top nine cities, compared to 79 million sq ft in 2024, according to real estate consultancy CBRE India.
