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.
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.
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.
Also Read: WeWork India leases over 1.4 lakh sq ft office space in Bengaluru, Noida
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.
