WeWork India Signs ₹475 Crore Managed Office Deal with TMUS in Hyderabad

WeWork India has strengthened its presence in the flexible workspace segment with the signing of a major managed office agreement with TMUS India Private Limited in Hyderabad. The deal covers over 2.5 lakh square feet of office space and is valued at approximately ₹475.49 crore over a five-year period, according to a regulatory filing.

The workspace will be located at Phoenix H10, a Grade A commercial development in Hyderabad’s prominent Hitec City. Spread across five floors, the office will accommodate around 1,507 workstations, catering to the growing demand for high-quality, managed office environments among large enterprises.

Under the agreement, WeWork India will design, develop and manage the workspace on behalf of TMUS India, reflecting a growing trend where companies prefer turnkey office solutions instead of traditional leasing models. The contract has a tenure of 60 months, including a lock-in period of 42 months, ensuring long-term occupancy stability.

The project is expected to be completed by May 2026. This timeline aligns with the increasing pace of office space absorption in key IT hubs like Hyderabad, where demand continues to be driven by global capability centres, technology firms and large multinational corporations.

Phoenix H10 is a well-established IT and ITeS hub, housing leading corporates such as Dell, HSBC and Tech Mahindra. Its strategic location, combined with modern infrastructure and connectivity, makes it a preferred destination for large office occupiers.

WeWork India’s latest deal follows a series of significant transactions in Hyderabad. In 2025, the company leased 1.75 lakh sq ft at Skyview 20 and subsequently sub-leased the entire space to JP Morgan, showcasing its ability to structure large-scale enterprise deals.

The flexible workspace market in India is witnessing strong growth as companies increasingly adopt hybrid work models and prioritise scalability. Managed office solutions offer flexibility, cost efficiency and faster turnaround times, making them attractive for businesses looking to expand or consolidate operations.

With this transaction, WeWork India continues to reinforce its position as a key player in India’s evolving commercial real estate landscape, particularly in high-growth office markets such as Hyderabad.