IT services major Tech Mahindra has signed a 10-year lease for nearly 4 lakh square feet of office space in Hyderabad’s Kondapur area, marking a significant expansion of its commercial footprint in one of India’s key IT and Global Capability Centre (GCC) hubs.
According to property registration documents reviewed by CRE Matrix, the company has leased approximately 3,97,497 sq ft of office space across the 12th, 13th, 14th, and 15th floors in Blocks A and B of a commercial project developed by Aparna IT Hub LLP in Serilingampally Mandal, Ranga Reddy district.
The lease agreement, registered on June 11, 2026, has a tenure of 10 years. Tech Mahindra will pay an initial monthly rent of around ₹3.06 crore, translating to nearly ₹77 per sq ft per month. The total annual rental outgo is estimated at approximately ₹36.7 crore, excluding escalation and common area maintenance charges.
As part of the agreement, the company has also deposited ₹18.36 crore as security and secured rights to 400 car parking slots. The lease commenced on December 10, 2025, with rent payments scheduled to begin from September 10, 2026, providing a nine-month rent-free period for fit-outs and interior development.
In addition to base rent, Tech Mahindra will pay ₹12 per sq ft per month as common area maintenance (CAM) charges. The deal underscores continued demand for large-scale office spaces in Hyderabad’s western corridor, particularly in Kondapur, which benefits from its proximity to HITEC City, Gachibowli, and the Financial District. The transaction highlights Hyderabad’s continued strength as a preferred destination for IT companies and GCC expansions in India.
