IT major Wipro Ltd has expanded its presence in the Mumbai Metropolitan Region by leasing 145,157 sq. ft of office space for five years at Mindspace Business Parks in Navi Mumbai’s Airoli East.
The Bengaluru-headquartered company will pay a monthly rent of ₹97.25 lakh (₹67 per sq. ft), with an annual escalation of 5%. According to registration documents accessed by CRE Matrix, the office space will be handed over on January 7, with rent commencing on April 1. The lease terms also include an 84-day rent-free period.
This transaction follows Wipro’s earlier acquisition of 387,000 sq. ft at the same property last year for a monthly rent of ₹2.47 crore, underscoring its steady real estate expansion in Navi Mumbai.
Abhishek Kiran Gupta, CEO of CRE Matrix, commented: “The lease of 145,157 sq. ft at Mindspace SEZ, Airoli by Wipro underscores the structural strength of Navi Mumbai’s SEZ office market. Large IT occupiers continue to prioritise long-term cost visibility and operational scale over short-term flexibility.”
Deals of this nature reinforce Airoli’s positioning as a value-efficient extension of Mumbai’s office ecosystem, where institutional landlords and blue-chip tenants converge on stability, scalability, and predictable cash flows.
The expansion reflects a broader trend in India’s office market. After slowing post-pandemic, IT companies are once again increasing their office footprints as employees return to physical workplaces. In 2025, Tata Consultancy Services leased 1.4 million sq. ft at 360 Business Park in Bengaluru’s Electronic City, one of the largest office lease transactions in recent years.
According to property advisory CBRE India, technology and flexible workspace operators led office absorption activity in 2025, which hit a record high of 82.6 million sq. ft across the top nine cities, compared to 79 million sq. ft in 2024.
