Major Industrial Leasing Deal in Greater Noida: Oppo Subleases 4.3 Lakh Sq Ft to Bhagwati Products at ₹1.04 Crore/Month

A significant industrial leasing deal has taken place in Greater Noida, highlighting the region’s rising importance in India’s electronics manufacturing ecosystem. Oppo Mobiles India Private Limited has subleased around 4.3 lakh square feet (approximately 40,000 sq m) of industrial space to Bhagwati Products Limited for a monthly rent of ₹1.04 crore. The agreement was signed on February 5, 2026, according to documents accessed through Propstack.

The leased facility is located in Building F4 within the Ecotech 7, which was previously part of Oppo’s mobile manufacturing complex. The space spans multiple floors and will be used by Bhagwati Products to expand its manufacturing operations. The lease structure includes two separate areas of 10,000 square meters each on the third floor, rented at ₹26 lakh per month each, and a combined 20,000 square meters on the first and second floors rented at ₹52 lakh per month. Altogether, the monthly rent adds up to ₹1.04 crore.

The lease agreement runs for four years and eight months, starting from January 1, 2026, and includes a 5% rental escalation after the first 24 months. The agreement also provides an option for renewal once the initial term concludes. The total stamp duty paid for the transaction amounts to approximately ₹95.60 lakh, reflecting the scale and long-term nature of the deal.

Bhagwati Products Limited is a major contract manufacturer and an associate company of Micromax Informatics. It also operates through a joint venture with Huaqin Technology, which holds a minority stake approved by the government in 2024. The company manufactures a wide range of electronic devices, including smartphones, tablets, and wireless audio products, for both global and Indian brands.

The company serves as a contract manufacturing partner for several well-known smartphone brands such as Vivo, Oppo, OnePlus, Realme, Motorola, Lenovo, and Acer. The new facility will support the company’s expansion plans as it scales production to meet growing demand from these brands.

Bhagwati Products is currently pursuing aggressive growth targets and aims to generate ₹15,000 crore in revenue during the financial year 2025–26. Its flagship manufacturing campus in Greater Noida spans nearly 15 lakh square feet and already produces around 2 million smartphones per month. The company has also expanded operations by taking over and upgrading facilities previously operated by other manufacturers in the region.

This leasing deal also reflects a broader trend: the rapid rise of Greater Noida as a major industrial and electronics manufacturing hub in North India. The region offers relatively affordable industrial land, strong infrastructure, and growing connectivity. Developments such as the Yamuna Expressway and the upcoming Noida International Airport are further boosting the area’s attractiveness for manufacturing investments.

Another key factor behind this growth is the global shift toward localized electronics production. Geopolitical developments, supply chain diversification, and government incentives for domestic manufacturing have encouraged companies to expand production within India. Partnerships between Indian manufacturers and international original design manufacturers (ODMs) are playing a crucial role in strengthening the country’s electronics ecosystem.

Overall, the ₹1.04 crore monthly leasing agreement highlights the growing scale of industrial real estate transactions in the National Capital Region. For developers, investors, and industry observers, deals like this underline the increasing demand for large manufacturing spaces as India continues to position itself as a global hub for electronics production.