Wipro Selling Commercial Properties in Bengaluru & Hyderabad

Wipro is going to sell two office properties in Bengaluru and Hyderabad as part of its strategy to monetize non-core real estate holdings and streamline operations. The assets include portions of its campuses in Gachibowli, Hyderabad, and Electronic City, Bengaluru, according to individuals familiar with the company's property divestment plans.

The decision to divest these assets is driven by Wipro's recognition of them as non-core, with the aim of consolidating operations across different cities in light of the company's adoption of a hybrid work model. The technology firm is looking to divest 14 acres of land in Gachibowli and is evaluating whether to divest the entire Electronic City campus in Bengaluru. 

According to the report, "Wipro will consolidate its operation in Bangaluru and is still deliberating if the entire 25 acres should be monetized in one-go. They may opt for a five-acre monetization in the first phase in Bangalore." According to the Wipro spokesperson, "Wipro does not comment on rumors and speculation."

Currently, Wipro is operating three properties in Bengaluru, including a 25-acre campus in Electronic City. In Hyderabad, the company owns three campuses in the financial district and Manikanda. Some of the identified assets were allotted to the company by the government over two decades ago, according to another source.

As a fourth-largest IT venture in India, Wipro has recently put into operation of compulsory hybrid work policy that requires workers to spend a minimum of three days in the office.  The management of the company communicated to its employees about this policy that it would take into an effect by starting on November 15.  In the quarter of September month, the company's employee count up was 244,707, with a 15.5 % attrition rate. The move towards a hybrid work model is renovating the  India's real estate landscape that emphasizing space as a facilitator of partnership rather than simply a place of habitation.