Dream11 parent Sporta Technologies has leased around 1.70 lakh sq ft at Ascent Worli for more than ₹334 crore, in one of Mumbai CBD’s largest deals of 2025. The five-year, ₹5.07-crore-a-month lease with 4.75% annual escalation underscores strong, long-term demand for Grade-A, centrally located office space from digital-first enterprises today.
Dream11’s parent, Sporta Technologies, has made a bold bet on Mumbai’s premium office market with a major lease at Ascent Worli, a project in Worli. The company has taken “around 1.70 lakh sq ft of premium office space in Mumbai’s Worli area for more than ₹334 crore,” making this one of the most closely watched commercial deals of 2025.
According to registration documents accessed by CRE Matrix, the transaction was registered on November 17, 2025 and is “one of the largest office leasing transactions in Mumbai’s central business district this year.” The deal underlines how large digital and tech-led enterprises are continuing to commit to high-end physical workspaces, even as hybrid work becomes the norm.
Bengaluru-based Dream11 will house its new office across multiple floors in Ascent Worli, a Grade-A commercial development by K Raheja Pvt Ltd. The lease spans the 4th, 6th, 7th, and 8th floors and includes 135 car parks, giving the online gaming company a consolidated, urban-campus-style footprint in one of Mumbai’s most sought-after micro-markets.
Structured five-year lease with built-in growth
The company has signed a five-year lease with a 36-month lock-in period, signalling a medium-term commitment to the location. Handover for fit-outs is expected by August 4, 2025, with operations likely to begin early next year once interior works are completed and teams move in.
As per the documents, Dream11 will start paying rent from February 2026. The initial rent is pegged at ₹5.07 crore per month, with an annual escalation of 4.75%. This takes the rent to ₹5.31 crore in the second year, ₹5.57 crore in the third, ₹5.83 crore in the fourth and ₹6.11 crore in the fifth year, reflecting a clear built-in rental growth curve over the lease term.
A security deposit of over ₹30 crore has been paid upfront, alongside a stamp duty of ₹94 lakh and a registration fee of ₹1,000. Together, these deal contours highlight the scale and seriousness of the commitment from both the occupier and the developer.
Worli’s ongoing pull for large corporate occupiers
The choice of Worli reinforces the corridor’s position as a preferred destination for large corporate occupiers seeking central access, brand visibility, and high-end infrastructure. With a strong mix of financial services, media, technology and new-age companies already present, the micro-market continues to attract long-term leases from marquee names.
For Mumbai’s office market, the Dream11–Ascent Worli transaction is a signal that well-located, premium assets continue to command strong demand and pricing, particularly from digital-first enterprises seeking institutional-grade work environments. While both Sporta Technologies and K Raheja Pvt Ltd have not responded to email queries on the deal, the numbers now in the public domain speak clearly about sentiment at the top end of the commercial market.
Signal for Mumbai’s premium office and flex ecosystem
For the wider workplace ecosystem, the deal also strengthens confidence in Mumbai’s Grade-A and managed office segment. Large, single-occupier leases of this kind often anchor future Flex and managed office demand in the same corridor, as operators cluster around proven corporate hubs. As more digital platforms mature, transactions of this scale may become an important benchmark for valuations of central Mumbai offices.
