NEW DELHI: The Wadhwa Group has leased approximately 33,000 square feet of office space to the global investment research firm Morningstar at its commercial project in Mumbai, totaling a rental agreement of Rs 44 crore over a nine-year period.
Based in Mumbai, Wadhwa Group specializes in residential, commercial, and township projects, having completed over 220 projects across the Mumbai Metropolitan Region (MMR), featuring a total area of 45 million sq ft.
Morningstar has also leased an additional 32,551 sq ft at Wadhwa Group’s Vishwaroop IT Park (VITP) project in Vashi, Mumbai.
A spokesperson for the company opted not to comment.
With this latest transaction, Morningstar’s overall presence at Vishwaroop IT Park now totals 4.45 lakh sq ft. The nine-year lease is anticipated to generate about Rs 43.54 crore in revenue for Wadhwa Group by 2034.
The Vishwaroop IT Park spans 15,518 square meters and has a built-up area of 6.25 lakh sq ft, currently fully leased. The property is expected to yield an annual rental income of around Rs 75 crore.
Wadhwa Group, one of the premier real estate developers in the MMR, is preparing for an Initial Public Offering (IPO).
As per data from Knight Frank India, India’s office market achieved its highest quarterly leasing volume to date at 29.9 million square feet during January-March 2026 across eight major cities, reflecting a 6% increase from the previous record in Q1 2025.
