WeWork India has signed a managed office agreement with TMUS India Private Limited for over 2.5 lakh sq ft of workspace in Hyderabad, comprising 1,507 workstations, for ₹475.49 crore over five years, the company said in a regulatory filing.
WeWork India has signed a five-year managed office deal with TMUS India for over 2.5 lakh sq ft in Hyderabad, worth ₹475.49 crore. (Photo for representational purposes only) (Pixabay)
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Located at Phoenix H10, the deal spans five floors and will accommodate around 1,507 workstations. The agreement has a tenure of 60 months, with a 42-month lock-in period. The total contract value stands at ₹475.49 crore, excluding taxes, the statement added.
“This is a managed office contract. The workspace will be designed, developed, and managed by WeWork on behalf of TMUS India Private Limited,” the company said. The project is expected to be completed by May 21, 2026, it said.
Phoenix - H10 - Tower 1 is a Grade A office building developed by Phoenix Group in Hitec City. This IT/ITeS SEZ space has tenants such as Dell, HSBC, and Tech Mahindra.
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Phoenix - H10 - Tower 1 is a Grade A office building developed by Phoenix Group in Hitec City. This IT/ITeS SEZ space has tenants such as Dell, HSBC, and Tech Mahindra.
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Last year, WeWork India leased 1.75 lakh sq ft at Skyview 20, a Grade-A tech park, on a five-year term with a starting monthly rent of ₹1.72 crore. The company then sub-leased the entire two-floor space to JP Morgan Services India Pvt Ltd for 60 months at a starting monthly rent of ₹4.38 crore.
The two agreements, first between Mahanga Commercial Properties and WeWork, and subsequently between WeWork and JP Morgan, were registered in November 2025, the documents showed.
In the first transaction registered on November 7, 2025, WeWork signed the lease deed with the licensor Mahanga Commercial Properties Private Limited at a starting monthly rent of Rs. 1.72 crore and paid a security deposit of ₹10.3 crore. The area leased is 1.75 lakh sq ft, and the starting monthly rent is ₹98 per sq ft, the documents showed.
Just days later, on November 13, 2025, WeWork had signed a General Service Agreement (sub-lease) with JP Morgan Services India Pvt Ltd, transferring the entire 1.76 lakh sq ft of space. JP Morgan leased 1,501 desks across the fifth and sixth floors of Skyview 20 in Hitech City, Madhapur, and paid a security deposit of ₹25.9 crore. The office comes with 176 car parks, with the sub-lease translating to ₹249 per sq ft, the documents showed.
Souptik Datta is a deputy chief content producer at Hindustan Times Digital, where he reports on southern India with a focus on real estate, urban infrastructure and environmental urban issues. His coverage tracks the intersection of policy, capital flows, regulation and sustainability, examining how these forces shape housing markets, commercial real estate and large-scale infrastructure development across rapidly transforming cities. He also closely tracks civic issues affecting urban residents, including property taxation, planning approvals, public transport expansion, water stress, waste management and the governance challenges that influence everyday life in India’s metros. Souptik’s reporting is driven by a strong interest in accountability, consumer rights and the lived realities of homebuyers and investors navigating volatile pricing cycles, regulatory changes and project delivery risks. He frequently analyses project launches, land monetisation strategies, planning frameworks, RERA-related developments and the broader implications of infrastructure investments on emerging growth corridors. His work blends on-ground reporting with data-backed analysis and long-form explainers aimed at demystifying complex real estate and infrastructure developments for readers. He is an alumnus of the Indian Institute of Journalism and New Media. Before joining Hindustan Times Digital, Souptik was associated with Moneycontrol at Network 18, where he covered real estate, infrastructure and allied sectors, producing market insights, policy-led stories and in-depth features. Outside the newsroom, Souptik is an avid solo traveller and documentary enthusiast, exploring diverse regions and visually documenting unique narratives through film and photography. In his early career, Souptik also freelanced as a documentary photographer, independently working on visual storytelling projects that captured grassroots narratives, urban change and everyday life. He can be reached at souptik.datta@htdigital.in.
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Home/Real Estate/WeWork India inks managed office deal with TMUS for ₹475.49 cr in Hyderabad
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