Tech Mahindra Locks In Rs 410 Crore, 10-Year Hyderabad Deal: What This Says About India's IT Office Market

When a company signs a 10-year office lease, it is not making a tactical decision. It is making a strategic one. Tech Mahindra has just committed nearly Rs 411 crore over a decade to occupy close to four lakh square feet of workspace at Aparna IT Hub in Kondapur, and that commitment says something important about where the company sees its India delivery operations heading through the next ten years.

The lease agreement was formally registered on June 11, 2026. Rent payments begin September 2026, with the company getting nine months rent-free from December 2025 to manage fit-outs and setup at its own pace.

The Tech Mahindra 410 crore office deal covers 3,97,497 square feet spread across the 12th through 15th floors of both Block A and Block B at Aparna Technopolis Kondapur. The starting monthly rent works out to Rs 3.06 crore, or roughly Rs 77 per square foot per month. A 15 percent escalation kicks in every three years, which is how the total commitment climbs to approximately Rs 410.93 crore over the full tenure.

The company has also deposited Rs 18.36 crore as security and secured 400 car parking slots within the campus. One more detail worth noting: Tech Mahindra has a Right of First Refusal on the 18th floor for the first 12 months, giving it the option to absorb more space within the same building before anyone else gets a look at it.

Kondapur office space sits at the intersection of everything that makes western Hyderabad so attractive to large occupiers. It is close to HITEC City, Gachibowli, and the Financial District without carrying their rental premiums. Infrastructure connectivity has improved steadily. The talent pool in this corridor is deep, particularly for IT services and engineering roles.

Hyderabad office space demand 2026 has remained strong even as some other Indian cities have shown signs of cooling. Gross leasing in the city crossed 3.15 million square feet in Q1 2026 alone, with large format deals above one lakh square feet accounting for a disproportionate share of activity. That is not a coincidence. Hyderabad's rental rates remain competitive against peer cities, and its infrastructure investments over the past five years have paid off visibly.

Tech Mahindra Hyderabad lease 2026 is one of several landmark transactions this city has seen recently. Uber locked down over nine lakh square feet through a 10-year agreement for its global capability centre earlier this year. TCS signed one of its largest commercial leases in the city in 2025. Microsoft India's R&D arm took significant space in the Financial District last August.

Largest office leasing deals Hyderabad 2026 tell a consistent story: this city is not just holding its own among Indian IT destinations, it is actively outcompeting some rivals for large-format, long-tenure commitments from companies that have real choices about where to place their operations.

Tech Mahindra office expansion India through a deal of this size signals operational ambition. Four lakh square feet can house thousands of employees. A decade-long commitment means the company is not hedging on Hyderabad as a talent market. And the Right of First Refusal on additional floors suggests leadership is already thinking beyond current headcount.

Tech Mahindra signs 10 year lease 4 lakh sq ft Hyderabad IT Park at Aparna Technopolis Kondapur in a deal valued at Rs 410 crore, paying Rs 3.06 crore monthly with 15 percent escalation every three years. The agreement covers the 12th to 15th floors across two blocks, commencing operations in September 2026. With Hyderabad office space demand 2026 running strong and Kondapur cementing its place as a preferred destination for large IT occupiers, this transaction reinforces that Tech Mahindra sees Hyderabad as a core pillar of its long-term India office expansion strategy.