IT giant Wipro has leased 3.87 lakh sq ft at Mindspace Business Parks in Airoli, near Mumbai, to expand its commercial footprint significantly. The 10-year lease, signed at ₹64 per sq ft, adds to Wipro’s existing 3.45 lakh sq ft in the park and includes an annual 5% rental escalation.
Wipro Secures Major Lease Deal in Navi Mumbai
Wipro Limited, one of India’s leading IT firms, has significantly expanded its operational space by leasing 3.87 lakh sq ft in the Mindspace Business Parks, Airoli, Navi Mumbai. As per documents sourced via Propstack, the 10-year lease was registered on May 21, 2025, and commands a monthly rent of approximately ₹2.47 crore.
This new lease increases Wipro’s total presence in the business park to over 7.3 lakh sq ft, reinforcing its commitment to scaling operations in the Mumbai Metropolitan Region. The agreement, signed with Mindspace Business Parks Private Limited, officially commenced on July 31, 2024.
Eight Floors, Ten Years, ₹2.47 Crore a Month
According to registration details, Wipro will occupy floors 4 through 11 of the building, totalling a carpet area of 270,949 sq ft and a chargeable area of 387,072 sq ft. The rent, locked in at ₹64 per sq ft, comes with a 5% annual escalation clause.
The lease includes a security deposit of ₹14.86 crore, and the registration was formalized through two transactions, for which Wipro paid a stamp duty of ₹13 lakh and a registration fee of ₹60,000.
Mindspace Airoli: A Magnet for Top Tech Firms
Mindspace Business Parks in Airoli has become a strategic hub for several major IT, consulting, fintech, and healthcare technology players. Existing occupiers include Accenture, Cognizant, IBM India, Capgemini, Axis Bank, CRISIL, and LTI–Mindtree.
With this deal, Wipro joins companies like Princeton Digital Group, which recently leased 1 million sq ft in nearby Airoli Knowledge Park at a monthly rent of ₹10.42 crore, further solidifying Airoli’s position as a premier commercial real estate destination.
A Strong Signal of Expansion and Confidence
This leasing decision signals Wipro’s ongoing investment in physical infrastructure, even amid rising trends of hybrid work. The substantial lease size and long-term commitment point toward strategic growth plans, talent expansion, and deeper integration into Navi Mumbai’s growing business ecosystem.
As one of India’s top IT firms, Wipro’s move further enhances the stature of Mindspace Business Parks, making it a sought-after destination for enterprise-grade tenants seeking scale, connectivity, and modern workspaces.
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