Tech Mahindra Ltd has picked up nearly 4 lakh sq ft of office space in Hyderabad on a long-term lease, in one of the city’s largest office leasing transactions this year, highlighting continued demand for premium workspaces from technology occupiers.The IT services major has leased the entire 12th, 13th, 14th and 15th floors across Blocks A and B at Aparna IT Hub in Kondapur village, Serilingampally Mandal, Ranga Reddy district, Telangana.Also Read: Mahindra Lifespaces buys 15-acre land in Mumbai to build Rs 5,600 cr housing projectThe lease spans 3,97,497 sq ft and carries a starting monthly rental of Rs 3.06 crore, translating into a rental rate of Rs 77 per sq ft per month, showed registration documents accessed through CRE Matrix.The agreement, registered on June 11, 2026, has been signed with Aparna IT Hub LLP for a tenure of 10 years, underscoring Tech Mahindra’s long-term commitment to Hyderabad, one of its key delivery and talent hubs.The lease commenced on December 10, 2025, while rent payments are scheduled to begin from September 10, 2026, providing the company a nine-month rent-free period for fit-outs and operational readiness.The transaction also involves a security deposit of Rs 18.36 crore. In addition, Tech Mahindra will pay common area maintenance (CAM) charges of Rs 12 per sq ft per month.The deal comes amid sustained leasing activity in Hyderabad, which continues to attract technology companies, global capability centres (GCCs) and engineering firms owing to its deep talent pool, relatively competitive occupancy costs and established office ecosystem.Also Read: JSW Realty eyes Rs 1,600 crore Tata Capital loan for Mumbai office projectThe deal reflects the preference among large occupiers for securing sizeable contiguous office spaces through long-term leases. Such arrangements provide flexibility for future expansion while allowing companies to avoid large upfront capital commitments associated with asset ownership.India’s office market has continued to witness healthy demand from technology and GCC occupiers, with Hyderabad remaining among the country’s top office destinations. Large-format leasing transactions have become increasingly common as occupiers focus on consolidating operations, creating collaborative workplaces and accommodating future growth requirements.For landlords, long-tenure commitments from marquee occupiers such as Tech Mahindra provide income visibility and strengthen the attractiveness of institutional-grade office assets in a market increasingly dominated by leasing-led development.