Tech Mahindra Leases 3.97 Lakh Sq Ft Office Space in Hyderabad

• Tech Mahindra leases 3.97 lakh sq ft office space in Hyderabad.
• Total rental commitment estimated at ₹410.93 crore over 10 years.
• Deal reflects strong demand in Hyderabad’s commercial real estate market.

Hyderabad: Tech Mahindra has signed a long-term lease agreement for nearly 3.97 lakh square feet of office space at Aparna Technopolis in Hyderabad’s Kondapur area. The lease, registered on June 11, 2026, spans 10 years and is expected to generate a rental outflow of approximately ₹410.93 crore. The deal highlights Hyderabad’s growing appeal as a major technology and business hub, where demand for large office spaces continues to remain strong.

According to property documents accessed by CRE Matrix, the leased space covers the entire 12th to 15th floors across Blocks A and B of Aparna Technopolis, a large IT park developed by Aparna IT Hub LLP. The tenancy is scheduled to begin on September 10, 2026, and continue until December 9, 2035. Tech Mahindra will initially pay a monthly rent of ₹3.06 crore, or around ₹77 per square foot, with rent increasing by 15% every three years.

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The company has also deposited a security amount of ₹18.36 crore and secured 400 dedicated parking spaces.

The lease has been signed under a warm-shell arrangement, meaning the office floors are equipped with essential infrastructure such as centralized air-conditioning support and 100% power backup. In addition, Tech Mahindra has received a Right of First Refusal for the 18th floor of the development for the first 12 months, giving the company priority if that space becomes available for leasing.

The transaction is another indicator of Hyderabad’s rapidly expanding commercial real estate sector. Industry data shows that the city recorded more than 3.15 million square feet of office leasing during the first quarter of 2026, representing a significant year-on-year increase. Large office transactions have been driving much of this growth, particularly among technology companies, flexible workspace operators, and global capability centres (GCCs).

With Hyderabad continuing to attract major occupiers, experts expect leasing activity to remain strong in the coming quarters. Aparna Technopolis, which offers around 18.25 lakh square feet of leasable area, is positioned to benefit from this demand. The Tech Mahindra deal further strengthens the city’s reputation as one of India’s leading destinations for technology-driven office expansion.

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