&imwidth=800&imheight=600&format=webp&quality=medium "Microsoft cracks one of Hyderabad’s largest office deals, leasing 264k sq ft for R&D at THIS whopping amount")
Microsoft India (R&D) has signed a 264,000 sq ft office lease in Hyderabad for R&D expansion, marking one of the largest deals in the financial district. The global technology giant has signed a new five-year lease with managed workspace provider Table Space Technologies, set to begin on July 1, 2025, according to lease documents accessed via Propstack.
As per the ET report, the agreement covers 264,000 sq ft across the third and fourth floors of the building, in which Microsoft will pay a base rent of Rs 1.77 crore at a rate of Rs 67 per sq ft. Including common area maintenance, operating expenses, capital expenditure and management fees, the total monthly expenditure of the company to touch Rs 5.4 crore per month or Rs 204 per sq ft.
An annual escalation of 4.8% and a security deposit of Rs 42.15 crore for a 60-month lease are also covered in the agreement. Table Space has a registered lease pact with Phoenix Tech Zone. It acts as the sub-lessor for the company.
Big boost for Microsoft
This new lease by Microsoft marks a significant expansion of its Hyderabad footprint and shows the appeal of the city to large tech occupiers due to its talent infrastructure, availability, and cost advantage.
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In 1998, Microsoft first set up its India Development Centre in the city, making the largest R&D base outside the US. The Gachibowli campus already acts as a spot for artificial intelligence, engineering, and cloud innovation.
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Its Gachibowli campus already serves as a hub for engineering, artificial intelligence, and cloud innovation. The new space at Phoenix Centaurus is expected to house additional R&D teams and technology units. Meanwhile, additional R&D teams and technology units are likely to get housed in the new space at Phoenix Centaurus.
"Large tech occupiers continue to bet on Hyderabad due to its talent availability, infrastructure and cost advantage," said a senior workspace real estate consultant. "Transactions like this indicate that global corporations are not just consolidating but also expanding in the city, especially in premium Grade-A spaces," he said.
