Hyderabad, March 2026 – WeWork India Management Limited has signed a ₹475.49 crore Membership Agreement for Managed Office with TMUS India Private Limited, a domestic subsidiary of T-Mobile US. The agreement covers 250,348 square feet across five floors at Phoenix H10, Hyderabad, featuring 1,507 workstations, and is valued at ₹475.49 crore for a 60-month term with a committed lock-in of 42 months from the client. The workspace is to be designed, developed, and managed by WeWork India on behalf of TMUS India, with operations expected to commence on or before May 21, 2026. The deal was disclosed to NSE and BSE on March 19, 2026, pursuant to SEBI Listing Obligations and Disclosure Requirements Regulation 30. WeWork India confirmed that the transaction involves no related party interest from its promoters or group companies.
Scale, Structure, and What the Managed Office Model Means
At 250,348 sq ft across five floors, the TMUS India deal is among the most significant single-client managed office mandates executed in Hyderabad in recent quarters. The managed workspace model allows companies to operate fully serviced offices without handling infrastructure directly, a structure increasingly preferred by global corporations and GCCs seeking operational efficiency, faster deployment, and scalability without long-term capital commitments tied to fit-outs and lease management.
Under the terms of this contract, WeWork India assumes full responsibility for design, development, and ongoing operations making it a true turnkey arrangement for TMUS India’s Hyderabad workforce. The 42-month committed term provides WeWork with stable, long-duration revenue visibility, while the 60-month total agreement length signals TMUS India’s strategic intent to deepen its India operations footprint.
Hyderabad’s Position as a Managed Office Destination
This development further strengthens Hyderabad’s position as a global business hub, attracting multinational corporations due to its strong infrastructure, growing IT ecosystem, and availability of premium commercial real estate. Phoenix H10 – the project’s host building sits within Hyderabad’s established IT and financial services corridor, offering Grade-A specifications and enterprise-grade connectivity that large global occupiers demand.
For WeWork India, this deal is part of a broader Hyderabad expansion wave. The company maintains a robust utilisation rate of 83.90% on its existing 1,21,638 desks as of December 31, 2025 – a figure that underscores why the operator is aggressively adding capacity in markets where demand is outpacing supply. WeWork India now operates 73 centres spanning 8.2 million sq ft across eight cities including Chennai, Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune, and Hyderabad.
