Tech Mahindra has leased 3.97 lakh sq. ft. of office space at Aparna Technopolis in Hyderabad under a 10-year agreement valued at approximately ₹410 crore. The deal reflects strong occupier confidence in Hyderabad’s office market, which continues to witness rising leasing activity, rental growth, and expanding GCC presence.
Hyderabad’s commercial real estate market has secured another major endorsement from the technology sector. Tech Mahindra Limited has leased nearly 3.97 lakh square feet of office space at Aparna Technopolis, a prominent IT park located in Kondapur, Hyderabad. According to property documents, the lease spans ten years and carries a total rental commitment of approximately ₹410.93 crore, making it one of the city’s significant office leasing transactions of 2026.
The agreement highlights the continued strength of Hyderabad’s office market, which has emerged as one of India’s fastest-growing destinations for technology companies, Global Capability Centres (GCCs), financial institutions, and flexible workspace operators. As enterprises continue to expand and consolidate operations, demand for large-format Grade A office spaces remains robust across key business districts.
Large-Scale Commitment in Hyderabad’s IT Corridor
The lease covers the entire 12th to 15th floors across Blocks A and B of Aparna Technopolis, a major commercial development by Aparna IT Hub LLP. Registered on June 11, 2026, the agreement carries an initial monthly rental of ₹3.06 crore, equivalent to approximately ₹77 per square foot per month.
The tenancy is scheduled to commence on September 10, 2026, and continue through December 9, 2035. In addition to the rental commitment, Tech Mahindra has deposited a security amount of ₹18.36 crore and secured access to 400 dedicated parking spaces.
The lease agreement also includes a 15% rental escalation every three years, reflecting the increasing value of premium office assets within Hyderabad’s thriving technology corridor.
Premium Workplace Infrastructure Supports Demand
The transaction was executed under a warm-shell leasing arrangement, enabling faster workplace deployment and reduced fit-out timelines. Under this model, the landlord provides key infrastructure components, including complete power backup systems and air-conditioning support up to the Air Handling Unit (AHU) rooms.
Another notable feature of the agreement is Tech Mahindra’s Right of First Refusal on the building’s 18th floor for the first 12 months. This provision gives the company priority access to additional space should future expansion requirements arise.
With an estimated leasable carpet area of approximately 18.25 lakh square feet, Aparna Technopolis ranks among Hyderabad’s larger office developments and continues attracting interest from major occupiers seeking scalable workplace solutions.
Hyderabad’s Leasing Momentum Continues
The transaction aligns with broader growth trends across Hyderabad’s office market. According to recent market data, the city recorded gross leasing volumes of 3.15 million square feet in the first quarter of 2026, a 21.6% year-on-year increase. Large office transactions of over 1 lakh square feet accounted for nearly 81% of total leasing activity during the quarter.
The city’s average office rent has also reached record levels, rising 11.6% year-on-year to ₹92.2 per square foot per month. Strong occupier demand, limited availability in prime micro-markets, and continued corporate expansion have supported this growth.
GCCs and Flex Space Continue Driving Growth
Technology firms remain the largest contributors to office demand in Hyderabad, accounting for 36% of leasing activity. Flexible workspace operators have emerged as another major occupier group, contributing 30% of total absorption, while BFSI companies account for 23%.
Global Capability Centres have become a particularly important growth engine, representing 26% of office leasing activity in the city. Combined with Hyderabad’s skilled talent pool, expanding infrastructure, and mature office ecosystem, these factors continue attracting long-term corporate investments.
Tech Mahindra’s latest commitment reinforces Hyderabad’s status as a preferred destination for enterprise expansion and highlights the city’s growing role in shaping India’s future office and workplace landscape.
