Mindspace Madhapur’s mega projects set to reshape Hyderabad’s corporate landscape

Ramesh Nair, the CEO of Mindspace Business Parks expressed confidence in the project timelines, stating, "1A-1B re-development, encompassing a sprawling 1.3 million square feet asset, is slated for completion by mid-2026.

Hyderabad: Mindspace Madhapur is witnessing a transformative phase of redevelopment, marked by brisk progress across multiple projects. The 1A-1B re-development, Experience Center, and 7/8 re-development initiatives are currently underway.

In a recent earnings conference call discussing financial results for the quarter ending March 31, Ramesh Nair, the CEO of Mindspace Business Parks REIT, provided insights into these endeavors.

---

Nair expressed confidence in the project timelines, stating, “1A-1B re-development, encompassing a sprawling 1.3 million square feet asset, is slated for completion by mid-2026. Simultaneously, the 1.6 million square feet 7/8 re-development is on track for completion by the first quarter of 2027.”

The Experience Center spanning 0.13 million square feet, is all set to redefine workspaces and leisure facilities. Scheduled for inauguration in Q1 FY26 (Q3 FY25 for shell & core), it will boast meticulously designed workspaces alongside a plethora of recreational amenities, including indoor-outdoor cafes, a bar and lounge, sporting arenas for badminton, squash, tennis, yoga and meditation studios, aerobic rooms, a state-of-the-art gymnasium, and a half Olympic-size lap pool.

According to the report, foundation and basement works for the 1A-1B re-development are advancing steadily, with a balance cost of Rs 5,944 million. The Experience Center’s upper ground floor slab works are in progress, with a balance cost of Rs 950 million. Meanwhile, excavation works for the 7/8 re-development are underway, with a balance cost of Rs 7,870 million.

Nair also shed light on the evolving trends in workspace dynamics, noting a visible increase in physical office occupancy. “The shift towards work from office is palpable, reflecting in our current committed occupancy at 96.4 percent,” he stated.

Noteworthy leases include technology tenants securing 183,000 square feet, followed by significant spaces taken by telecom and other tech-driven sectors.