The Wadhwa Group has successfully signed a contract with global investment research firm Morningstar, leasing 33,000 square feet of office space at its commercial project in Mumbai. According to reports from The Economic Times, the partnership involves a total rental cost of ₹44 crore over a nine-year period, with the lease expected to generate approximately ₹43.54 crore in revenue for the Wadhwa Group until 2034. The Mumbai-based realty firm, which develops residential, commercial and township projects, has completed more than 220 projects across the Mumbai Metropolitan Region covering 45 million sq ft area. Its commercial portfolio includes projects such as The Capital (BKC) and Platina (BKC).
The leased space is located at Wadhwa Group's Vishwaroop IT Park (VITP) project in Vashi, Mumbai. As reported by The Economic Times, Morningstar has taken an additional 32,551 sq ft area on lease, bringing its total footprint at the Vishwaroop IT Park to 4.45 lakh sq ft area. The project, spread across a plot area of 15,518 square metre, has a built-up area of 6.25 lakh sq ft and is currently fully leased. The company spokesperson declined to comment on the transaction details.
According to The Economic Times, the total annual rental income of the Vishwaroop IT Park property is approximately ₹75 crore. The Wadhwa Group, which has completed more than 220 projects across the Mumbai Metropolitan Region covering 45 million sq ft area, is preparing to launch an Initial Public Offering (IPO).
As reported by The Economic Times, according to Knight Frank India data, India's office market recorded its highest-ever quarterly leasing volume at 29.9 million square feet during January-March 2026 across eight major cities. This represents a 6 per cent rise from the previous peak observed in the first quarter of 2025 calendar year.
