Wipro has leased 1.45 lakh sq ft at Mindspace Airoli for 5 years, with a total rent exceeding ₹61 crore. The deal includes 97 parking slots, a ₹5.83 crore security deposit, and a 5% annual escalation. This expansion builds on Wipro’s 2025 lease of 3.87 lakh sq ft in the same business park.
Wipro Limited has strengthened its presence in Navi Mumbai’s booming commercial corridor with a fresh lease of 1.45 lakh sq ft in Mindspace Business Parks, Airoli. The agreement, signed with Mindspace Business Parks Private Limited, marks a five-year expansion valued at over ₹61 crore, according to documents accessed by CRE Matrix. The IT major will pay a starting monthly rent of over ₹97 lakh, reflecting sustained absorption in one of the region’s most sought-after Grade-A business districts.
A Strategic Addition to a Growing Campus Presence
The newly leased premises will be handed over to Wipro on January 7, 2026, with the lease officially commencing on April 1, 2026. The agreement includes a 36-month lock-in period and a security deposit of ₹5.83 crore, underlining a long-term commitment to the Airoli micro-market. The transaction also features 97 dedicated car parking spaces, a critical amenity for large-scale IT occupiers.
As part of the agreement, both the monthly rent and security deposit will be subject to a 5% annual escalation, in line with steady inflation-linked rental growth across top Indian office markets. Registration details show a stamp duty payment of over ₹78 lakh, along with a registration fee of ₹30,000.
Building on a Significant 2025 Commitment
This latest expansion follows Wipro’s major leasing activity in 2025, where the company secured 3.87 lakh sq ft in the same business park at a monthly rent of ₹2.47 crore. That transaction, spread across eight floors from the 4th to 11th level, included a carpet area of 270,949 sq ft and a chargeable area of 387,072 sq ft. The deal was locked at ₹64 per sq ft, with a security deposit of ₹14.86 crore and a similar 5% annual escalation.
With this new commitment, Wipro’s cumulative footprint in Mindspace Airoli crosses 5.3 lakh sq ft, making it one of the largest technology occupiers in the integrated campus.
Mindspace Airoli’s Growing Pull for GCCs and IT Enterprises
Mindspace Business Parks in Airoli has emerged as a prime destination for high-value enterprise operations. Its occupier mix spans leading domestic and global names such as Accenture, IBM India, Cognizant, Capgemini India, CRISIL, Axis Bank, LTI–Mindtree and L&T Infotech, positioning the park as a preferred hub for IT, consulting, financial services and healthcare technology tenants.
The submarket has benefited from a strong combination of infrastructure readiness, scalable floor plates, and proximity to talent-dense residential clusters across Navi Mumbai and Thane. Sustained uptake from large corporates reflects broader market trends, where hybrid-ready, future-proof campuses continue to dominate occupier demand.
Demand Momentum Continues Across Mumbai’s Commercial Market
Wipro’s decision to deepen its investment aligns with the rising absorption levels across the Mumbai Metropolitan Region. With institutional-grade developers fuelling supply and enterprise occupiers consolidating into integrated office ecosystems, Mindspace Airoli remains one of the city’s most resilient and active micro-markets.
As the IT major prepares to begin operations in its expanded premises in 2026, the move reinforces Airoli’s status as a critical growth node for India’s technology sector and a cornerstone of Mumbai’s evolving office landscape.
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