Tech Mahindra has leased nearly 4 lakh square feet of office space in Hyderabad's Kondapur, according to property registration documents reviewed by CRE Matrix. The company has taken the entire 12th, 13th, 14th and 15th floors across Blocks A and B of a commercial project owned by Aparna IT Hub LLP in Kondapur Village, Serilingampally Mandal, Ranga Reddy district. The lease agreement, registered on June 11, 2026, covers approximately 3,97,497 sq ft of office space and has a tenure of 10 years. This deal represents one of the biggest office leasing transactions this year and showcases Hyderabad's growing appeal as a premier tech and corporate hub.
According to the agreement, Tech Mahindra will pay a starting monthly rent of ₹3.06 crore, translating into a rental rate of about ₹77 per sq ft per month. At the contracted rate, the annual rental outgo works out to approximately ₹36.7 crore before escalation clauses and common area maintenance charges. The company has paid a security deposit of ₹18.36 crore for the premises and the transaction includes rights to 400 car parking slots. The lease commenced on December 10, 2025, while rent payments are scheduled to begin from September 10, 2026, effectively providing the occupier with a nine-month rent-free fit-out period. The deal also includes common area maintenance charges of ₹12 per square foot per month.
Kondapur, located within Hyderabad's western office corridor, has emerged as one of the city's most active commercial markets due to its proximity to HITEC City, Gachibowli and the Financial District. According to data from property consultant CBRE, Hyderabad recorded office leasing of over 12 million sq ft in 2025, with technology firms and global capability centres accounting for a significant share of demand. The transaction comes amid continued office demand from technology firms, global capability centres and multinational occupiers seeking large floor plates in Hyderabad. This deal highlights the preference among large occupiers for securing sizeable contiguous office spaces through long-term leases.
The Tech Mahindra transaction joins a series of large office leasing deals in Hyderabad over recent years. Uber leased over 9 lakh sq ft in Hyderabad in May 2026 through a 10-year agreement for its GCC operations, with an estimated rental commitment of about ₹839 crore. Tata Consultancy Services (TCS) leased more than 10 lakh sq ft in Hyderabad's Financial District in 2025, at an annual rent of ₹52.44 crore with a 12% escalation each year. Microsoft India (R&D) leased 2.64 lakh sq ft in Hyderabad's Financial District in August 2025 at a reported monthly rent of about ₹5.4 crore.
At nearly 4 lakh sq ft, the Tech Mahindra lease ranks among the larger office transactions recorded in Hyderabad in 2026 so far. Tech Mahindra's 3.97 lakh sq ft lease ranks among Hyderabad's notable office transactions of 2026, though it trails Uber's 9 lakh sq ft GCC lease and TCS' 10.18 lakh sq ft Financial District deal signed over the past 18 months. The transaction underscores Tech Mahindra's long-term commitment to Hyderabad as one of its key delivery and talent hubs. This reflects the continued growth of Hyderabad as a key GCC and IT leasing hub, with technology firms expanding their footprint in the city's prime commercial corridors, driven by its deep talent pool, competitive occupancy costs, and established office ecosystem.
