Hyderabad: Mindspace REIT occupancy crosses pre-pandemic levels

Mindspace Business Parks REIT sees Hyderabad office occupancy rise to 97.3%, surpassing pre-pandemic levels. Expansion includes redevelopment of two buildings, B1 and B8, launch of The Pearl Club, and The Square in Financial District to meet growing office space demand

Hyderabad: Mindspace Business Parks REIT, one of the country’s largest Grade-A office developers, continues to thrive in office space leasing, with occupancy rates in Hyderabad now surpassing pre-pandemic levels.

Mindspace REIT reported an occupancy rate of 97.3 percent in June 2025 at Mindspace Madhapur, up from 88 percent in March 2021, when the COVID-19 pandemic forced offices to adopt work-from-home arrangements.

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A significant portion of the total space at Mindspace Madhapur has been leased to Global Capability Centres, while the remainder is occupied by multinational and domestic companies.

As part of its expansion plans, Mindspace REIT is redeveloping two buildings in its Madhapur campus by demolishing the existing structures. Construction of Building 1 (B1), already leased to a banking GCC, is expected to complete in Q1 FY27, while Building 8 (B8) is scheduled for Q4 FY27.

With 1.5 million sq ft and 1.6 million sq ft respectively, B1 and B8 are poised to reshape Madhapur’s office landscape. Mindspace REIT currently holds 17 million sq ft of office space across Hyderabad’s Madhapur and Financial District micro-markets.

The company is also launching The Pearl Club, a premium members-only facility spanning 0.13 million sq ft in the Madhapur campus.

Speaking to Telangana Today, Mindspace REIT MD & CEO Ramesh Nair said they have rechristened Q-City, a recently acquired asset, as The Square, 110 Finance District.

With limited space in Madhapur, Nair added that demand is expected to spill over to the Financial District, offering significant potential for office spaces. “For companies that cannot afford high rentals, we are providing more cost-effective options,” he said.