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Apple has leased 64,125 sq ft of additional office space in Hyderabad's WaveRock Tower, strengthening its presence in the city. The lease, signed for five years, involves a monthly rent of INR 80.15 lakh with a structured warm shell and fit-out rental model. Apple has also deposited INR 4.8 crore as security, with a yearly escalation clause of 4.77%. The agreement includes parking provisions and a three-year lock-in period. With this expansion, Apple now occupies more than 5 lakh sq ft at the WaveRock campus, continuing its growth in India after recent expansions in Bengaluru.
Apple has expanded its operations in Hyderabad by securing a fresh lease for 64,125 sq ft of office space at WaveRock Tower 2.1 in Nanakramguda. The new lease adds to the company's existing offices in the city and further consolidates its base in one of India's fastest-growing technology hubs. The leased space is spread across the upper ground and third floors of the building, which is part of the large WaveRock campus, a well-known office complex in Hyderabad's IT corridor. Advertisement
Under the five-year lease agreement, Apple will pay a monthly rent of INR 80.15 lakh, which translates to INR 125 per sq ft. The rental has been structured into two components: INR 74.18 per sq ft as warm shell rent and INR 50.82 per sq ft as fit-out rent. This approach allows the company to cover both the basic office infrastructure and the cost of customized interiors and fittings.
In addition to rent, Apple has placed a security deposit of INR 4.8 crore with the building's owner. The agreement also includes a clause for annual rent escalation of 4.77%, which will steadily increase the overall rental outflow over the lease term. The deal further provides Apple with 64 parking spaces at no additional charge. Each space can be used for one car or up to six two-wheelers, and the agreement permits the company to secure extra parking by paying additional rent if required.
The lease comes with a three-year lock-in period, ensuring stability for both Apple and the landlord. During this period, the contract cannot be terminated except under specified conditions. This provision reflects Apple's long-term commitment to its Hyderabad base.
This is not Apple's first investment in WaveRock. The company's association with the campus began in 2016, when it leased 2.32 lakh sq ft of space. With the new addition, Apple now occupies over 5 lakh sq ft across WaveRock, making it one of the largest multinational tenants in the complex. The Hyderabad facility, inaugurated by Tim Cook in 2016, has been a central hub for Apple Maps development, with teams focusing on geospatial data, mapping technologies, and related services.
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