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Tech Mahindra Joins Accenture, TCS in Betting Big on Hyderabad
Tech Mahindra has leased nearly 4 lakh square feet of premium office space in Hyderabad’s fast-growing Kondapur commercial district, reinforcing the city’s position as one of India’s leading technology and Global Capability Centre (GCC) hubs.
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According to property registration documents reviewed by CRE Matrix, the IT services major has signed a 10-year lease agreement for approximately 3,97,497 square feet of office space at a commercial project owned by Aparna IT Hub LLP.
The transaction covers the entire 12th, 13th, 14th, and 15th floors across Blocks A and B of the development located in Kondapur Village, Serilingampally Mandal, Ranga Reddy district.
Lease Details
The agreement was registered on June 11, 2026. Under the terms of the lease, Tech Mahindra will pay an initial monthly rent of ₹3.06 crore, translating to roughly ₹77 per sq ft per month.
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The annual rental commitment stands at approximately ₹36.7 crore, excluding common area maintenance (CAM) charges and future rental escalations. The company has deposited a security amount of ₹18.36 crore and secured access to 400 car parking spaces as part of the transaction.
While the lease commenced on December 10, 2025, rental payments will begin from September 10, 2026, providing a nine-month rent-free fit-out period for workspace development and employee onboarding.
Hyderabad Continues to Attract Large Occupiers
Kondapur remains one of Hyderabad’s most sought-after office destinations due to its proximity to HITEC City, Gachibowli, and the Financial District.
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The region continues to attract technology companies, engineering services firms, multinational corporations, and GCC operators seeking large-scale office campuses.
The lease adds to a series of significant office transactions recorded in Hyderabad. Earlier this year, Uber leased more than 9 lakh sq ft for its GCC operations, while Tata Consultancy Services (TCS) secured over 10 lakh sq ft in the Financial District.
Microsoft has also expanded its office footprint across Hyderabad through multiple large-scale transactions in recent years.
At nearly 4 lakh sq ft, Tech Mahindra’s latest lease ranks among the notable office space deals completed in Hyderabad during 2026, highlighting continued confidence in the city’s commercial real estate market and long-term technology sector growth.
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About the Author
Sheetal Singh
Contributing Writer