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JP Morgan Leases 13 Lakh Sq Ft in Powai in Landmark Office Deal

JP Morgan office lease in Powai Mumbai

JP Morgan Services India Private Limited has leased over 13 lakh sq ft of built-to-suit commercial office space in Powai, Mumbai. This is one of the largest office leasing transactions recorded in India. The deal involves a total rental commitment of approximately ₹5,200 crore over a 20-year tenure, according to property registration documents accessed by CRE Matrix. The space will house the American investment bank’s global capability centre (GCC).

Lease Details: Rentals, Tenure, and Financial Commitments

The office space is located at One Forest Avenue, Powai. In this transaction, BSS Property Ventures Private Limited and Rajeshwar Property Ventures Private Limited have leased the property to JP Morgan Services India. Both entities operate through an SPV backed by Brookfield Properties, which holds a stake in the development.

Under the lease terms, the agreement starts at a monthly rent of ₹39 crore. This translates to a starting rental of ₹300 per sq ft for the approximately 13 lakh sq ft leased area. Additionally, the built-to-suit office will span 19 floors, including the ground floor, and offer around 1,300 parking spaces.

As part of the transaction, a security deposit of ₹468 crore has been paid. Further, the deal attracted a stamp duty of ₹125 crore, calculated on a 20-year tenure. It also includes a registration fee of ₹30,000. Meanwhile, while the initial lease term is 10 years, rentals will escalate by 4.5% annually.

Brookfield’s GCC Development Strengthens Powai’s Office Market

Brookfield Properties earlier announced a ₹9,000 crore investment to develop a 2 million sq ft global capability centre (GCC) in Powai. The campus is all set to become Asia’s largest GCC for a multinational bank.

The 6-acre development, slated for completion by 2030, will consolidate JP Morgan’s Mumbai operations into a single, state-of-the-art campus.

The transaction highlights India’s growing dominance as a global GCC hub and reinforces Powai’s status as a preferred office micro-market, driven by strong connectivity, a deep talent pool, and a mature mixed-use ecosystem.

JP Morgan’s Growing Office Footprint in India

JP Morgan is one of the world’s leading financial services firms, with a strong and expanding presence in India. Over the years, the firm has steadily scaled its office footprint in Mumbai. This reflects India’s importance as a strategic global capability and talent hub.

In another transaction, JP Morgan Services India Private Limited leased over 2.71 lakh sq ft of office space in the same location of Powai.

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JP Morgan Leases 2.71 Lakh Sq Ft Office Space in Mumbai’s Powai for ₹612 Crore

JP Morgan Leases 2.71 Lakh Sq Ft Office Space in Mumbai’s Powai for ₹612 Crore

JP Morgan Services India Private Limited has expanded its Mumbai footprint by leasing over 2.71 lakh sq ft of office space in Powai. The transaction reinforces sustained demand for large, Grade A commercial assets in the city’s established business districts.

According to property registration documents accessed by CRE Matrix, the global financial services major has signed a five-year lease with a total rental outlay of approximately ₹612 crore.

Deal Overview

The leased office space is located at One Downtown Central, Powai—formerly known as CRISIL House and spans floors 3 to 9 of the building. The transaction involves Cowrks Pvt Ltd, which manages the workspace, JP Morgan Services India as the tenant, and Kairos Property Pvt Ltd (Brookfield Properties) as the landlord.

The lease tenure is 60 months, with a lock-in period of 30 months. The agreement commenced with a starting monthly rent of over ₹9.23 crore, and includes a security deposit exceeding ₹55 crore.

Lease Terms and Escalation

As per the registered documents dated December 29, 2025, the lease includes a 5% annual rent escalation, ensuring steady rental growth over the lease term. Additionally, the agreement provides an option to renew for another 60 months upon completion of the initial term.

The lease commencement date is April 1, 2026, while the transaction attracted a stamp duty payment of over ₹7 crore, along with a registration fee of ₹30,000.

The transaction also includes 312 car parking spaces, highlighting the scale of operations and the infrastructure requirements of large multinational occupiers. Powai’s strong connectivity, proximity to residential catchments, and access to social infrastructure continue to make it a preferred office destination for BFSI and technology-led enterprises.

Market Implications

This transaction highlights sustained occupier confidence in Mumbai’s commercial real estate market, particularly for managed and institutional-grade office assets. Large-format leases by global corporations such as JP Morgan signal a continued preference for long-term visibility, premium locations, and professionally managed workspaces amid evolving workplace strategies.

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Facebook India Leases 69,702 Sq Ft Office Space in Hyderabad’s Hitec City

Facebook India office lease in Hyderabad

Meta Platforms’ Indian arm, Facebook India Online Services Pvt Ltd, has further strengthened its footprint in Hyderabad with a fresh office lease in the city’s prime IT corridor, Hitec City. According to the documents accessed by CRE Matrix, the company has signed a five-year lease for nearly 69,702 sq ft of Grade A office space. This reaffirms Hyderabad’s position as one of India’s most resilient and attractive technology hubs.

Details of the Lease Transaction

Facebook India has leased the space in Skyview 20, part of The Skyview commercial complex, from Mahanga Commercial Properties Pvt Ltd. According to the lease documents, the agreement was signed on December 2, 2025, with rent commencement starting on December 18, 2025.

The monthly rental is close to ₹67 lakh, translating to rentals of around ₹96 per sq ft. The lease agreement also includes a 15% rental escalation after three years, reflecting both the quality of the asset and sustained occupier confidence in the micro-market.

Reinforcing Hyderabad’s Tech and GCC Ecosystem

This large-format transaction highlights Hyderabad’s continued appeal to global technology companies, particularly for Global Capability Centres (GCCs). Over the years, Hitec City has evolved into a deeply institutionalised office market, offering scale, modern infrastructure, and long-term flexibility—key requirements for multinational occupiers.

Commenting on the transaction, Abhishek Kiran Gupta, CEO and Co-founder of CRE Matrix, said the deal underscores Hyderabad’s strength as a strategic GCC and technology hub. He noted that occupiers are increasingly willing to pay a premium for Grade A office assets that offer operational efficiency, scalability, and future-ready infrastructure.

Such transactions, especially at near-70,000 sq ft scale, signal sustained demand from global tech players and reinforce Hitec City’s status as one of India’s most stable and sought-after office micro-markets.

Meta’s Longstanding Presence in Hyderabad

Meta’s association with Hyderabad dates back to 2010, when the company opened its first India office in the city. Since then, it has consistently expanded its presence, making Hyderabad a key centre for its India operations.

In fact, towards the end of 2024, Meta renewed leases for a significantly larger office footprint—around 367,000 sq ft—within the same Skyview property. These renewals were executed through two separate agreements for an additional five-year tenure, with a total rental commitment of approximately ₹170 crore. The latest lease further consolidates Meta’s long-term commitment to the location.

Office Market Momentum Across India

Technology companies and flexible workspace operators led absorption during the year, driven by GCC expansion, return-to-office strategies, and India’s growing role in global business operations.

Facebook India’s latest lease in Hitec City is more than just an expansion—it is a strong endorsement of Hyderabad’s office market fundamentals. As global technology firms continue to deepen their India presence, well-located, Grade A assets in established IT corridors are likely to remain in high demand, supporting stable rentals and long-term market confidence.

Recent Transactions

Hyderabad’s commercial real estate market continues to gather momentum, with several large-format office space transactions in key micro-markets driven by technology companies and global capability centres expanding operations in the city.

In a recent transaction, Global real estate consultancy Jones Lang LaSalle Property Consultants India (JLL) leased 1.21 lakh sq ft of office space at Prestige Skytech – Sky One in Poppalguda, Gandipet mandal, Hyderabad. In another transaction, WeWork India leased 1,75,953 sq ft at Skyview 20 in Hitech City.

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Future of Office Spaces in India: Post-COVID Trends and Structural Opportunities

Future of Office Spaces in India

India’s office market has moved decisively beyond recovery. What began as a post-pandemic reset has evolved into a structurally stronger, more disciplined cycle defined by quality absorption, occupier consolidation, and sustained rental growth.

Contrary to early expectations, hybrid work has not reduced demand for office space in India. Instead, it has reshaped where, how, and what type of office space is being leased.

The data now clearly reflects this shift.

Leasing Momentum: Beyond Pre-COVID Benchmarks

Before the pandemic, India’s Grade A and A+ office market was already on a strong growth trajectory. Between 2018 and 2019, annual leasing volumes averaged ~54 million sq ft.

The post-COVID rebound has exceeded those levels.

  • 2023 leasing demand reached ~62 million sq ft, nearly 15% higher than pre-COVID peaks
  • Leasing activity in Q3 CY’25 alone stood at 19.6 million sq ft
  • In the first nine months of CY’25, absorption touched 62.3 million sq ft, indicating sustained occupier confidence

This is not pent-up demand being released it reflects structural expansion by technology firms, GCCs, BFSI players, and engineering-led enterprises.

Supply Expansion with Improving Discipline

India’s office market crossed a significant milestone in Q3 2025, with Grade A/A+ stock surpassing 1 billion sq ft.

What makes this cycle distinct from earlier ones is not just scale but balance.

  • Demand is consistently outpacing new completions
  • The demand-to-supply ratio stands at ~1.2x, indicating absorption strength
  • Vacancy levels have declined to multi-quarter lows, despite continued stock additions

This marks a departure from earlier cycles where aggressive supply often preceded demand, leading to prolonged vacancy overhangs.

Rental Performance: From Stability to Growth

Rental behaviour is now reflecting tightening market conditions.

  • Pan-India weighted average passing rents reached ₹92.1 per sq ft/month in Q3 CY’25
  • Rental growth is no longer limited to CBDs; high-quality peripheral corridors are also seeing upward pressure
  • Markets with strong GCC and multinational occupier presence are leading rental hardening

This shift indicates that occupiers are prioritising quality, compliance, efficiency, and talent access and are willing to pay for it.

What Has Changed in Post-COVID Office Demand

1. Quality Over Quantity

Occupiers are consolidating into Grade A+ assets, reducing exposure to inefficient or non-compliant buildings.

2. Office as a Strategic Asset

Offices are now seen as collaboration, innovation, and talent-retention hubs not just cost centres.

3. GCC-Led Expansion

Global Capability Centres continue to be a major absorption driver, providing long-term stability across Bengaluru, Hyderabad, Pune, and NCR.

4. Flight to Managed Ecosystems

Integrated business parks with strong infrastructure, amenities, and ESG readiness are outperforming standalone assets.

Emerging Opportunities Across the Value Chain

For Developers

  • Focus on future-ready Grade A+ assets
  • Emphasis on sustainability, flexibility, and efficiency
  • Disciplined phasing aligned with demand visibility

For Investors and REITs

  • Strong re-leasing visibility due to tightening vacancy
  • Rental growth supporting yield stability
  • Asset quality differentiation becoming more pronounced

For Occupiers

  • Early-mover advantage in emerging corridors
  • Portfolio optimisation across cities
  • Ability to lock in space before further rental hardening

Outlook: The Next Phase of Office Growth

India’s office market has entered a post-pandemic expansion phase, not a recovery phase.

With:

  • Leasing volumes consistently above pre-COVID levels
  • Vacancy tightening despite large stock additions
  • Rentals showing broad-based upward movement

…the office sector is positioned for sustained, demand-led growth.

The future of office spaces in India will be shaped less by remote-work narratives and more by economic expansion, global integration, and the country’s role as a core office destination.

1: What is the future of office spaces in India after COVID?

India’s office market has moved beyond recovery into a structural growth phase. Leasing volumes are consistently above pre-COVID levels, vacancies are tightening, and rentals are showing broad-based growth driven by GCCs and multinational occupiers.

2: Has hybrid work reduced office space demand in India?

No. Hybrid work has reshaped office demand rather than reduced it. Occupiers are prioritising high-quality Grade A and A+ offices that support collaboration, compliance, and employee experience, leading to consolidation rather than contraction.

3: Which sectors are driving office leasing demand in India?

Technology firms, Global Capability Centres (GCCs), BFSI players, and engineering-led enterprises are the primary drivers of office space absorption across key markets such as Bengaluru, Hyderabad, Pune, and NCR.

4: Are office rentals increasing in India post-COVID?

Yes. Pan-India weighted average office rents have entered a growth phase, supported by tightening vacancies and sustained occupier demand, especially in markets with strong multinational and GCC presence.

5: What opportunities does the post-COVID office market create for developers and investors?

Developers benefit from demand for future-ready Grade A+ assets, while investors and REITs gain from improving rental growth, strong re-leasing visibility, and clearer asset quality differentiation.

6: Is India still an attractive office destination globally?

Yes. India continues to strengthen its position as a global office destination due to economic expansion, global integration, talent availability, and long-term GCC-led demand.

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New Century Sofa India Secures Large Industrial Lease in Tamil Nadu

New Century Sofa India Secures Industrial Lease

IndoSpace, a leading investor, developer, and operator of Grade-A industrial and logistics real estate in India, has signed a major lease with New Century Sofa India. The deal covers 2.72 lakh sq ft at IndoSpace Industrial Park, Oragadam II. The facility is located in Block B, Venbakkam, along the Oragadam–Walajabad Road in Sriperumbudur Taluk, Kancheepuram District.

According to lease documents shared by CRE Matrix, the agreement has a 36-month tenure with a full 36-month lock-in. This structure ensures long-term stability for both parties. The lease also includes a 5% annual rent escalation, offering predictable annuity income for IndoSpace and operational certainty for the tenant.

Phased Possession For Faster Operational Readiness

Notably, the lease covers three buildings within the industrial park. This structure allows New Century Sofa India to plan its operations efficiently. IndoSpace handed over possession on 1 April 2025, enabling early operational preparation. Buildings 1 and 3 had no fit-out period. As a result, the tenant could install machinery and begin operations immediately after handover.

Meanwhile, Building 2 follows a staggered timeline. The lease commencement date was 16 May 2025. The rent commencement date began on 1 October 2025. Consequently, this phased approach offers flexibility. It also aligns rental obligations with operational readiness.

Part of IndoSpace’s Larger Industrial Expansion Strategy

Importantly, this transaction aligns with IndoSpace’s aggressive expansion in Tamil Nadu. The developer has increased its planned capital deployment to ₹4,500 crore for new logistics and warehouse developments. This surge reflects the state’s rapid emergence as a preferred destination for large-scale manufacturing. Strong infrastructure and supportive policies continue to drive this growth.

Global and domestic OEMs such as Hyundai, Nissan, Foxconn, and Pegatron have already announced major expansions in the region. Meanwhile, IndoSpace plays a critical role in supporting these supply chains. It does so by delivering scalable, Grade-A industrial facilities.

Furthermore, the Oragadam deal adds to IndoSpace’s recent leasing momentum. In recent quarters, the company signed large occupiers across multiple locations. These include Relaxo Footwears at Bhaproda (243,549 sq ft), Puma at Luhari IV (around 279,000 sq ft), Inox Solar at Bavla (284,180 sq ft), and a nearly 700,000 sq ft expansion by RenewSys at Khopoli II.

Consequently, industry experts see this sustained leasing activity as a sign of strong demand. Key sectors include consumer goods, retail, electronics, and renewable energy. This demand is driven by India’s expanding consumption base and continued supply chain diversification.

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Hrithik Roshan’s Parents Lease Commercial Space in Andheri West for ₹14.5 Lakh a Month

Rakesh Roshan and Wife leases to Fabindia

Hrithik Roshan’s parents, filmmaker Rakesh Roshan and Pramila Rakesh Roshan, have leased a commercial property in Mumbai to Fabindia Limited for a monthly rent of ₹14.5 lakh, according to documents accessed by CRE Matrix. The deal reflects steady demand for premium retail spaces in established commercial locations across the city.

The property is located at De Mall on Veera Desai Road in Andheri West, a well-known retail and commercial corridor. It offers a carpet area of 6,389.47 sq ft, with the rent working out to around ₹227 per sq ft. This rate aligns with current market levels for quality retail assets in the area.

Key Lease Terms and Timeline

The lease agreement was registered on December 9, 2025, and includes a security deposit of ₹87 lakh. Fabindia Limited also received access to five car parking slots as part of the deal. The landlord handed over the premises on September 1, 2025.

The lease runs for a period of five years. Fabindia has a lock-in period of 15 months, while Rakesh Roshan and Pramila Rakesh Roshan are committed to a full five-year lock-in. As a result, the structure offers flexibility to the tenant and long-term income visibility to the owners.

Structured Rental Escalation

The agreement clearly outlines rental escalation across the lease term. The monthly rent stands at ₹14.5 lakh in the first year. It rises to ₹15 lakh in the second year and ₹16 lakh in the third year. In the fourth and fifth years, the rent increases further to ₹18.4 lakh per month, reflecting confidence in the long-term potential of Andheri West as a retail destination.

Celebrity Interest in Commercial Real Estate

Commenting on the transaction, Abhishek Kiran Gupta, CEO, CRE Matrix, said the deal highlights the growing interest among celebrities in commercial real estate. He noted that prime retail assets offer stable cash flows, predictable returns, and long-term value appreciation, making them an attractive wealth-building option for high-net-worth individuals.

Recent Transactions

Recent office and commercial space deals involving celebrities show a clear shift towards income-generating real estate assets. Increasingly, high-profile investors are choosing premium retail spaces and Grade A offices to secure steady rental income and long-term capital appreciation.

Earlier this year, Bollywood actor Manoj Bajpayee and his wife, Shabana Bajpayee, leased two commercial properties in Andheri West for a monthly rent of ₹10.9 lakh for a five-year term, highlighting the continued appeal of Mumbai’s western suburbs for commercial investments.

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WeWork Leases 1.76 Lakh Sq Ft at Skyview 20 in Hyderabad, Sub-Leases Entire Space to JP Morgan

WeWork Leases 1.76 Lakh Sq Ft at Skyview 20

In one of Hyderabad’s biggest office deals this year, WeWork India has leased 1,75,953 sq ft at Skyview 20 in Hitech City, Madhapur. The space was immediately sub-leased to JP Morgan Services India Pvt Ltd, as confirmed by documents accessed by CRE Matrix.

The master lease between Mahanga Commercial Properties and WeWork, and the sub-lease between WeWork and JP Morgan, were both registered in November 2025. The back-to-back execution highlights the rapid uptake of premium offices in Hyderabad’s technology corridor.

WeWork has taken the space on a 60-month lease with a starting monthly rent of ₹1.72 crore. The security deposit is ₹10.34 crore. The area covers two floors—501 and 601 and includes 176 parking slots. The handover was done on 1 July 2025, followed by a four-month fit-out and rent-free period. With rent fixed at ₹98 per sq ft, the deal signals WeWork’s strong push into the Hyderabad market. It also reflects the city’s rapidly growing demand for flexible workspaces.

On 13 November 2025, WeWork sub-leased the entire area to JP Morgan at a significantly higher monthly rent of ₹4.38 crore. The agreement comes with a security deposit of ₹25.97 crore. JP Morgan will occupy the same floors, fitted with 1,501 desks as part of a managed office solution. The sub-lease runs for 60 months with a 24-month lock-in and a 5 percent annual rent escalation. Fit-out charges were set at ₹3,540 per sq ft, and the handover was done on 15 November 2025.

The sharp rent spread from ₹98 per sq ft in WeWork’s lease to ₹249 per sq ft in JP Morgan’s sub-lease shows the premium commanded by fully built, high-quality managed offices. It also highlights how global firms are increasingly opting for ready-to-move, service-backed workspaces over traditional bare-shell leases.

Skyview 20, located along Hitech City Main Road, remains one of Hyderabad’s most sought-after Grade-A office destinations. Its strong connectivity, modern infrastructure, and proximity to major IT hubs continue to draw multinational banks, tech companies, and enterprise occupiers. Additionally, the WeWork–JP Morgan deal further elevates its position as a top-tier commercial asset in the city.

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Dream11’s Parent Company Secures 1.70 Lakh Sq Ft Office Lease in Worli for ₹334 Crore

Dream 11 parent leases office space in Worli

Sporta Technologies Private Limited, the parent company of India’s leading fantasy gaming platform Dream11, has finalized a major commercial real estate deal in Mumbai’s Worli. The company has leased approximately 1.70 lakh sq ft of office space for over ₹334 crore, according to property registration documents accessed by CRE Matrix.

The leased premises are located in Ascent Worli, a premium commercial development by K Raheja Pvt Ltd. The deal spans multiple office units across the 4th, 6th, 7th, and 8th floors of the building, offering the company a large and contiguous workspace in one of Mumbai’s most sought-after business corridors. Along with the office area, the lease also includes 135 car parking spaces, highlighting the scale and premium nature of the transaction.

The documents show that the lease has been signed for a period of five years, with a lock-in commitment of 36 months. The transaction was registered on November 17, 2025, with the company paying more than ₹94 lakh in stamp duty and ₹1,000 as registration fees. Additionally, a security deposit of over ₹30 crore has been furnished as part of the agreement.

Sporta Technologies will receive possession of the premises for fit-out work on August 4, 2025. The fit-out period extends for nearly six months, after which the lease will commence in February 2026. The starting monthly rent for the first year is ₹5.07 crore, and the agreement includes an annual escalation of 4.75%. Accordingly, the monthly rent will increase to over ₹5.31 crore in the second year, ₹5.57 crore in the third year, ₹5.83 crore in the fourth year, and ₹6.11 crore in the fifth year.

Recent Transactions

Mumbai’s office market continues to see strong traction, with multiple high-value leases and expansions across key business districts. Premium Grade-A spaces, strategic locations, and long-term commitments are driving the momentum in the city’s commercial real estate landscape.

In a transaction earlier this year, Zomato signed a five-year lease for 84,157 sq. ft. of prime office space in Andheri, Mumbai. In another transaction, Amazon renewed its lease for over 94,000 sq ft of office space at Godrej Two in Vikhroli for a five-year term, with a monthly rent of ₹1.73 crore. 

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Scootsy, Swiggy’s Logistics Arm, Secures ₹20 Lakh/Month Warehousing Space in Bhiwandi

Scootsy leases warehouse in bhiwandi

Swiggy’s logistics subsidiary, Scootsy Logistics Pvt Ltd, has expanded its warehousing footprint in the Mumbai Metropolitan Region by leasing a total of 1.21 lakh sq ft of space in Bhiwandi. The company will pay a combined monthly rent of ₹19.98 lakh for these facilities, according to registration documents accessed by CRE Matrix.

All the spaces are located within Global Logistic Park, a major warehousing hub known for its connectivity and Grade-A infrastructure. The four agreements were registered on October 31, 2025. The rentals commenced on September 1, 2025, with each lease running for a tenure of two years.

The largest of the four leases involves 69,687.5 sq ft taken from Qureshi Massrunisa for a monthly rent of ₹12.1 lakh. This block, comprising units 7, 10, 11, 12, 13, and 14 on the ground floor, is subject to a security deposit of ₹24.2 lakh. Scootsy is paying ₹17.36 per sq ft per month. In another agreement, the company leased 32,387.5 sq ft from Malunge Shivaji Vishnu. This has a monthly rent of ₹4.87 lakh and a security deposit of ₹9.74 lakh. This space includes units 8A, 8B, 8K, 9A, 9B, and 9K on the ground floor. For this, Scootsy will pay ₹15.04 per sq ft per month.

Scootsy also signed a third lease for 7,000 sq ft with Chougle Fya Anjum at a monthly rent of ₹1.15 lakh. It also includes a security deposit of ₹2.31 lakh. This area covers units 9H, 7E, and 11H, where the company is paying ₹16.53 per sq ft per month. The fourth agreement is for 12,300 sq ft taken from Patil Balaram Vitthal at a monthly rent of ₹1.85 lakh. The security deposit is ₹3.70 lakh. This deal includes units 9D and 10C, also located on the ground floor. The rent stands at ₹15.04 per sq ft per month.

All four transactions have a handover date of September 1, 2025. However, Scootsy will receive a 30-day rent-free or fit-out period from that date. The lease structure includes a 12-month lock-in period, after which rentals will escalate by 5 percent. The deal structure reflects a planned distribution and logistics strategy designed to strengthen Swiggy’s backend infrastructure across the Mumbai region.

This warehousing expansion aligns with Swiggy’s broader investment plans for its logistics operations. In February 2025, the company announced a ₹1,000 crore investment into Scootsy Logistics through a subscription to a rights issue. As Swiggy continues to scale its express and same-day delivery network, expanding warehousing capacity in high-demand zones like Bhiwandi is a critical component of its long-term growth strategy.

Recent Transactions

Bhiwandi is seeing steady leasing activity. Major occupiers are expanding their footprint in the region. The latest deal comes from Swiggy’s Scootsy. Additionally, the company has taken multiple warehouses on lease. This strengthens Bhiwandi’s position as a key logistics hub near Mumbai.

In a recent transaction, DHL Supply Chain India Pvt Ltd leased 4.17 lakh sq ft of warehouse space in Bhiwandi. In another transaction,  Zomato Hyperpure secured over 5.5 lakh sq ft in the same location.

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Zomato Hyperpure Expands Supply Chain with 5.5 Lakh Sq Ft Lease in Bhiwandi

Zomato Leases Warehouse Space

Zomato Hyperpure, the business-to-business division of Eternal Ltd (formerly Zomato Ltd), has made a significant move to scale its supply chain infrastructure by leasing over 5.5 lakh sq ft of warehousing space in Bhiwandi near Mumbai. According to data from CRE Matrix, the company has paid a security deposit of ₹8.57 crore and stamp duty of ₹26.98 lakh for the lease registration.

The facility, located at Hiranandani Industrial Park, Mauje Pogaon, spans 553,249 sq ft and has been taken on a five-year lease with a 48-month lock-in period. The agreement starts with a monthly rent of ₹1.71 crore and includes a 150-day rent-free period to facilitate fit-out work and operational setup before rent payments commence in full.

This marks Hyperpure’s second major warehousing lease in Bhiwandi within two months. In September, the company took up another 250,000 sq ft facility in the same region. The consistent expansion reflects Zomato’s commitment to building a robust, tech-enabled logistics network to support its fast-growing B2B food supply business.

Bhiwandi has long been a preferred warehousing and logistics hub in the Mumbai Metropolitan Region (MMR). Its connectivity to Mumbai, Thane, and Navi Mumbai, and its proximity to the Mumbai–Nashik Highway and Jawaharlal Nehru Port (JNPT) make it ideal for large-scale occupiers such as e-commerce, retail, and food service companies.

It should be noted that large, structured leases like this underline sustained demand for Grade A warehousing in India. The country’s warehousing sector continues to see robust traction driven by rising consumption, e-commerce growth, and supply-chain consolidation.

As companies prioritize efficiency and scalability, the trend is shifting towards long-term leases in modern, tech-integrated industrial parks. Zomato Hyperpure’s latest move is a clear example of this transformation, where logistics infrastructure becomes a strategic growth enabler, not just a backend function.

With demand from sectors such as manufacturing, retail, and food services continuing to rise, industry watchers expect this momentum to sustain well into the next few years.

Recent Transactions

Mumbai’s warehousing market continues to attract major occupiers, with several large-scale lease deals recently signed across key logistics hubs like Bhiwandi and Panvel. Strong connectivity, rising consumption, and Grade A infrastructure are driving sustained demand from e-commerce, retail, and manufacturing players.

In a recent transaction, FM India Supply Chain Private Limited leased 1.31 lakh sq ft of industrial space at Lodha Industrial Park, located in Palava City, Thane district, near Mumbai.

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