Wipro Expands in Airoli With Rs 2.5 Cr Monthly Lease

24 Jun 2025 CW Team

IT services major Wipro Limited has expanded its commercial footprint by leasing 3.87 lakh square feet of office space in Mindspace Business Parks, Airoli, near Mumbai. According to property registration records accessed by Propstack, the lease is valued at a monthly rent of approximately Rs 24.8 million.

This new lease adds to Wipro’s existing occupancy of 3.45 lakh square feet within the same business park. The agreement with Mindspace Business Parks Private Limited began on 31 July 2024 and spans a 10-year term.

Wipro will occupy eight consecutive floors—from the 4th to the 11th—with a carpet area of 270,949 square feet and a chargeable area of 387,072 square feet. The lease has been signed at a rate of Rs 64 per square foot, with provisions for an annual rental escalation of 5 per cent.

A security deposit of Rs 148.6 million was paid as part of the agreement. The lease was executed through two transactions and officially registered on 21 May 2025. Documents also show a stamp duty of nearly Rs 1.3 million and a registration fee of Rs 60,000 were paid.

Mindspace Business Parks in Airoli, Navi Mumbai, is a key hub for domestic and global enterprises across various sectors, including information technology, consulting, healthcare technology, and financial services.

Besides Wipro, major tenants include L&T Infotech (LTI), LTI–Mindtree, Accenture, Cognizant, IBM India, CRISIL (a subsidiary of S&P Global), Axis Bank, and Capgemini India, among others.

Both Mindspace Business Parks REIT and Wipro Limited have been contacted for comments. The article will be updated if responses are received.

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