BENGALURU: Apple India has signed a new office lease for over 65,000 square feet at the WaveRock IT campus in Hyderabad’s Financial District. This brings its total area in the Xander-owned property to nearly 630,000 square feet, according to documents obtained by the publication.
The recent lease covers 65,168 square feet and was finalized earlier this week between Apple India Private Limited and TSI Business Parks (Hyderabad) Private Limited, the landlord of WaveRock. This follows a previous lease of 64,125 square feet signed in July 2025, resulting in an overall expansion of approximately 130,000 square feet for Apple in 2025.
According to the registered lease deed shared by Propstack, the agreement spans five years with a three-year lock-in period, setting the monthly rent at ₹125 per square foot. The lease includes an option to renew for an additional five years under mutually agreeable terms. The space will be utilized for Apple’s operations in India, emphasizing its established presence at the campus.
With this expansion, Apple now occupies around 27% of the total leasable area at WaveRock, positioning it as one of the largest tenants at this Grade A office campus. Apple has been based at WaveRock since 2016, managing teams in areas such as maps, software development, services, and backend technology.
WaveRock, covering approximately 2.4 million square feet in Gachibowli, currently boasts nearly 99% occupancy, driven by high demand from major global tenants, market sources indicated. Other significant tenants in the complex include DBS, GAP, DuPont, Accenture, and Tata Consultancy Services, among others.
The property was acquired by global private equity firm Xander in May 2024 for approximately ₹2,200 crore and is managed under its pan-India office platform, X Office Parks. Xander did not comment on this latest transaction, and Apple has yet to respond to inquiries.
Apple’s ongoing expansion at WaveRock highlights Hyderabad’s rising status as a crucial hub for global capability centers (GCCs), even as key micro-markets like Hitec City near saturation. Over the past year, the city has experienced continuous demand from multinational tech and healthcare firms establishing or expanding GCC operations.
Industry analysts suggest that Gachibowli and the Financial District are becoming Hyderabad’s next significant office growth areas, supported by infrastructure improvements, metro connectivity, and a rich talent pool in technology. A recent JLL report noted that Hyderabad achieved gross office leasing of 2.94 million square feet in Q3 2025, with new supply predominantly concentrated in Hitec City and Gachibowli, with annual office supply expected to remain steady at 13–14 million square feet in the near future.
