Mumbai, June 26 -- Tech Mahindra Limited has signed a 10-year lease for 0.397 million (mn) sq ft of office space at Aparna Technopolis in Hyderabad's Kondapur area. The agreement carries an initial monthly rent of Rs 30.6 mn and implies a total rent of about Rs 4.11 bn over the lease term. The transaction was recorded in documents accessed by CRE Matrix.
The deal covers the entire 12th to 15th floors across Blocks A and B and was executed for a 10-year tenure, with registration on 11 June 2026. Tenancy will commence on 10 September 2026 and end on 9 December 2035. Tech Mahindra deposited a security amount of Rs 183.6 mn and secured access to 400 car parking spaces.
The lease specifies an initial rate of Rs 77 per sq ft per month and provides for 15 per cent rent escalation every three years. The arrangement is warm-shell, with the landlord supplying essential infrastructure including 100 per cent power backup and air-conditioning to the air handling unit rooms. The company was also granted a right of first refusal on the 18th floor for the first 12 months of the lease.
Aparna Technopolis offers an approximate leasable carpet area of 1.825 million (mn) sq ft, positioning it among larger office developments on Hyderabad's IT corridor. Market data indicate Hyderabad's gross leasing volume crossed 3.15 million (mn) sq ft in Q1 2026, up 21.6 per cent year-on-year, driven by large transactions. Average stock-weighted rent rose to Rs 92.2 per sq ft per month, with Madhapur commanding Rs 105.5 and Gachibowli Rs 72.3 per sq ft.
Sectoral leasing was led by IT-BPM firms with a 36 per cent share, followed by flexible workspace operators at 30 per cent and banking, financial services and insurance at 23 per cent, while global capability centres leased 0.83 million (mn) sq ft during the quarter. The record notes that further updates will follow should the company respond to queries sent by email.
Published by HT Digital Content Services with permission from Construction World.