Wipro Doubles Down: Massive New Office in Navi Mumbai
TLDR: Wipro just snagged 1.45 lakh sq ft of office space in Navi Mumbai. Guess someone's betting big on the city – or just got a sweet deal on rent.
Wipro's empire just got a whole lot bigger in Navi Mumbai. Forget your cozy corner office; we're talking a whopping 1.45 lakh sq ft lease, according to Prop News Time. That's enough space to house, conservatively, the entire population of sector 12 in Nerul.
Where's this behemoth of bandwidth and balance sheets going? Details are scant, but expect another glass tower gleaming somewhere between the MIDC and the Palm Beach Road. The IT giant already has a substantial footprint in the city, so this isn't exactly news, is it? More like corporate hunger pangs being satisfied.
This move comes as other firms are downsizing their physical locations in favor of WFH. The question is: is Wipro planning a return to the office? Or are they just cornering the market on commercial real estate before the inevitable AI-pocalypse hits? Time (and quarterly reports) will tell.