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Wipro Limited has strengthened its presence in Navi Mumbai by leasing approximately 1.45 lakh sq ft of Grade A office space at Mindspace SEZ, Airoli East, on a five year lease. The agreement, registered in late December 2025, includes a lock in period of 36 months, 97 car parks, and an 84 day rent free period before rent starts in April. The monthly rent begins at around INR 97.25 lakh with annual 5% escalations. This lease complements Wipro's existing footprint in the Airoli campus, reflecting the continued demand for cost efficient suburban office spaces.
IT services company Wipro Limited has expanded its office footprint in the Mumbai Metropolitan Region with a lease of roughly 1.45 lakh sq ft in the Mindspace SEZ, Airoli East, Navi Mumbai. The lease was finalized with Mindspace Business Parks Private Limited and registered in late December 2025, signaling sustained corporate confidence in Navi Mumbai's commercial real estate market. Advertisement
The lease spans five years and includes a 36-month lock-in period, providing the landlord revenue stability and the tenant operational security. The office space will be handed over in early January 2026, with rent payments commencing from April 1, 2026. Wipro also receives an 84-day rent-free period to carry out internal fit-outs before occupancy.
The agreement specifies a starting monthly rent of about INR 97.25 lakh, translating to approximately INR 67 per sq ft per month. Wipro has also deposited INR 5.83 crore as a security deposit. The lease includes access to 97 car parking spaces and annual 5% escalations in both rent and the security deposit. Common area maintenance charges are set at INR 12 per sq ft per month, covering shared services and upkeep within the park.
This expansion adds to Wipro's existing presence in Airoli, where the company had previously leased around 3.87 lakh sq ft in mid-2025. With the latest addition, Wipro's total leased space in the Mindspace Airoli campus reaches approximately 8.8 lakh sq ft, highlighting the company's strategic focus on scalable office solutions in suburban business districts.
Navi Mumbai, particularly Airoli, continues to attract major IT and technology firms due to cost-effective Grade-A office spaces, better connectivity, and ample parking and amenities compared to central Mumbai locations. Industry reports note that India's office leasing activity reached record levels in 2025, driven by IT and global service companies seeking large-format, flexible workspaces outside city cores.
Wipro's latest lease reflects a broader corporate real estate trend where companies are increasing their presence in peripheral business districts to balance operational efficiency, cost, and employee accessibility. This move ensures Wipro can meet its operational expansion needs while optimizing real estate costs in a high-demand market.
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