IT Giant Leases Nearly 4 Lakh Sq Ft In Kondapur As Hyderabad Strengthens Position As India’s GCC Hub
Tech Mahindra has signed a major long term office leasing deal in Hyderabad, taking nearly 4 lakh square feet of premium office space in the city’s fast growing Kondapur micro market. According to property registration documents reviewed by CRE Matrix, the technology services company has leased approximately 3,97,497 square feet across multiple floors in a commercial project owned by Aparna IT Hub LLP.
The transaction highlights Hyderabad’s continued dominance as one of India’s most sought-after destinations for technology firms, global capability centres (GCCs), engineering companies, and multinational corporations seeking large office campuses.
Details Of The Deal
The lease agreement was registered on June 11, 2026, and covers the entire 12th, 13th, 14th, and 15th floors across Blocks A and B of the commercial development located in Kondapur Village, Serilingampally Mandal, Ranga Reddy district.
The lease has been signed for a tenure of 10 years, reflecting Tech Mahindra’s long-term commitment to Hyderabad as a strategic business and technology hub.
Under the agreement, Tech Mahindra will pay an initial monthly rent of approximately ₹3.06 crore. This translates to a rental rate of around ₹77 per square foot per month. Based on the current rent structure, the annual rental commitment amounts to roughly ₹36.7 crore, excluding common area maintenance (CAM) charges and future escalation clauses.
Over the entire lease tenure, the rental outgo is expected to exceed ₹367 crore, making it one of the significant office leasing transactions recorded in Hyderabad this year.
Nine-Month Rent-Free Fit-Out Period
One notable feature of the agreement is the rent free fit out period granted to the company.
While the lease officially commenced on December 10, 2025, rental payments will begin only from September 10, 2026. This effectively provides Tech Mahindra with a nine-month fit-out window to customize and prepare the office space before operational occupancy.
The company has also deposited a security amount of ₹18.36 crore and secured rights to 400 dedicated car parking spaces as part of the transaction.
In addition to base rent, Tech Mahindra will pay common area maintenance charges of ₹12 per square foot per month.
Hyderabad Continues To Attract Large Corporate Occupiers
The latest deal reinforces Hyderabad’s position as one of India’s leading commercial real estate markets.
Kondapur, situated near HITEC City, Gachibowli, and the Financial District, has emerged as a preferred destination for technology companies due to its connectivity, modern infrastructure, talent availability, and relatively competitive rental costs compared to Bengaluru, Mumbai, and Delhi NCR.
According to CBRE data, Hyderabad recorded office leasing activity exceeding 12 million square feet in 2025. Technology companies and global capability centres accounted for a substantial portion of this demand.
Industry experts believe Hyderabad’s growing ecosystem of multinational corporations, startups, and IT service providers continues to drive strong demand for Grade-A office space.
Among Hyderabad’s Biggest Office Deals
The Tech Mahindra transaction joins a series of large commercial leasing deals signed in Hyderabad over the past two years.
In May 2026, ride-hailing giant Uber leased more than 9 lakh square feet for its global capability centre operations through a 10-year agreement with an estimated rental commitment of around ₹839 crore.
Tata Consultancy Services (TCS) also leased over 10 lakh square feet in Hyderabad’s Financial District in 2025, making it one of the city’s largest office transactions. The lease carries an annual rent of approximately ₹52.44 crore with yearly escalation provisions.
Meanwhile, Microsoft India (R&D) expanded its Hyderabad footprint by leasing 2.64 lakh square feet in the Financial District during 2025 at a reported monthly rent of about ₹5.4 crore.
Although smaller than the Uber and TCS transactions, Tech Mahindra’s nearly 4 lakh square foot lease ranks among the most notable office deals completed in Hyderabad during 2026.
What It Means For Hyderabad’s Office Market
The transaction highlights sustained confidence among large technology companies in Hyderabad’s long-term growth story. As companies continue expanding engineering, research, AI, cloud, and global delivery operations, demand for large integrated office spaces is expected to remain strong.
For Hyderabad, deals of this scale further strengthen its reputation as one of India’s most important commercial real estate and technology destinations.
