Welspun Enterprises Ltd has leased 4.5 lakh sq ft of office space at Radius IT Park in Pune’s Hinjewadi for over ₹82 crore, according to property registration data accessed via Propstack. The five-year lease, starting April 1, 2026, comes at an initial monthly rent of ₹1.25 crore with a 5% annual escalation clause, underscoring sustained demand for large Grade A office spaces in Pune’s key IT corridor.

The documents show that the space was leased from Indo Global Soft Solutions and Technologies Pvt Ltd, according to a report by The Hindustan Times.

The transaction includes 3.29 lakh sq ft of carpet space and 4.57 lakh sq ft chargeable area. The starting monthly rent is ₹1.25 crore, and there is a clause for an annual 5% escalation in the monthly rent, according to the documents.

The transaction was registered on March 27, 2026, for which a stamp duty of ₹18 lakh and a registration fee of ₹500 were paid, the documents show.

“Pune’s commercial real estate is currently witnessing a robust growth cycle, fundamentally anchored by the continued expansion and maturity of Global Capability Centres (GCCs),” said Raja Seetharaman, co-founder of Propstack.

“While East Pune, led by Kharadi, has recently secured mega-transactions from global leaders like Maersk and Citicorp, this 4.5 lakh sq ft. commitment by Welspun, alongside recent entrants like Arcelor Mittal in Hinjewadi, reinforces that the appetite for large-scale, high-quality Grade A space remains equally potent in the West,” Seetharaman said.

Recently, Maersk Global Service Centres (India) Pvt Ltd has leased 1.93 lakh sq ft of office space in Pune for 10 years at a monthly rent of ₹1.45 crore, according to documents accessed by Propstack.