Realty firm Wadhwa Group has leased nearly 33,000 square feet of office space to global investment research firm Morningstar at its commercial project in Mumbai for a total rental of Rs 44 crore over a nine-year period.

Mumbai-based Wadhwa Group develops residential, commercial and township projects. It has completed more than 220 projects across Mumbai Metropolitan Region (MMR) covering 45 million sq ft area, PTI reported.

Its commercial portfolio includes projects such as The Capital (BKC) and Platina (BKC).

According to sources, Morningstar has taken an additional 32,551 sq ft area on lease in Wadhwa group’s Vishwaroop IT Park (VITP) project in Vashi, Mumbai.

The company spokesperson declined to comment.

With this transaction, Morningstar’s total footprint at Vishwaroop IT Park is 4.45 lakh sq ft area. The latest 9 years lease transaction is expected to generate about ₹43.54 crore in revenue for the Wadhwa Group till 2034, they added.

Spread across a plot area of 15,518 square metre, the project ‘Vishwaroop IT Park’ has a built-up area of 6.25 lakh sq ft. The commercial asset is currently fully leased. The total annual rental income of this property is around ₹75 crore.

Wadhwa Group, one of the leading real estate developers in the MMR, is preparing to launch an Initial Public Offering (IPO).

According to Knight Frank India data, India’s office market recorded its highest-ever quarterly leasing volume at 29.9 million square feet during January-March 2026 across eight major cities. This represents a 6 per cent rise from the previous peak observed in the first quarter of 2025 calendar year.