+
GCCs Lead India’s Office Leasing with 42 Per Cent Share in FY 2025
Real Estate

GCCs Lead India’s Office Leasing with 42 Per Cent Share in FY 2025

Global Capability Centres (GCCs) emerged as the primary driver of India’s office space demand in FY 2025, accounting for 42 per cent of the pan-India absorption, up marginally from 41 per cent in FY 2024, according to Vestian’s latest report. In absolute terms, GCC leasing grew 24 per cent year-on-year to reach 31.8 million sq ft. 

While the total leased area expanded, the number of GCC transactions declined by 4 per cent to 305, highlighting a growing preference for larger spaces and long-term expansion. Notably, large transactions—leases above 1 lakh sq ft—rose by 44 per cent, from 15.8 million sq ft in FY 2024 to 22.8 million sq ft in FY 2025. 

Fortune 500 firms contributed significantly, leasing 13.5 million sq ft, or 43 per cent of total GCC absorption—a 25 per cent increase from the previous year—affirming India’s stature as a strategic destination for global firms. 

Shrinivas Rao, FRICS, CEO, Vestian, said, “GCCs contribute significantly to the office market in India, accounting for over 40 per cent of the absorption recorded in the past two years. This share is expected to grow even further fuelled by the expansion of large conglomerates from various industries such as IT-ITeS, BFSI, Healthcare & Lifesciences, Engineering & Manufacturing, and Consulting Services. India continues to offer a compelling value proposition through its skilled talent base, operational scalability, and robust ecosystem.” 

Sectoral insights: 

  • IT-ITeS maintained dominance with a 46 per cent share in GCC absorption, though down from 53 per cent in FY 2024. 
  • BFSI increased its share to 22 per cent from 14 per cent. 
  • Healthcare & Lifesciences also rose from 5 per cent to 8 per cent. 
  • Engineering & Manufacturing dropped to 4 per cent from 9 per cent. 
  • Consulting Services held steady at 6 per cent. 
  • Others (including Automotive, Data Centres, Consumer Goods, Telecom, and Logistics) accounted for 14 per cent, up from 12 per cent. 

City-wise highlights: 

  • Bengaluru led the market with 65 per cent of its overall office leasing coming from GCCs, rising from 55 per cent last year. Fortune 500 companies accounted for 47 per cent of this. 
  • Hyderabad followed with a 46 per cent share in citywide leasing, although large deals saw a 5 per cent decline. 
  • Chennai saw GCC leasing by IT-ITeS drop from 61 per cent to 54 per cent, while Healthcare & Lifesciences surged to 14 per cent from 4 per cent. 
  • Mumbai witnessed a 52 per cent increase in total absorption, with GCCs’ share growing from 15 per cent to 26 per cent. 
  • NCR saw Fortune 500 leasing jump to 50 per cent from 40 per cent, with large transactions surging 142 per cent. 
  • Pune saw a 46.4 per cent rise in absorption; IT-ITeS held the lion’s share at 61 per cent, followed by BFSI at 16 per cent. 
  • Kolkata registered a 36 per cent decline in GCC leasing share. 


City-wise GCC Office Absorption (FY 2025 vs FY 2024): 

  • Bengaluru: 12.43 mn sq ft (up 49.1 per cent) 
  • Hyderabad: 6.26 mn sq ft (down 2.9 per cent) 
  • Chennai: 3.15 mn sq ft (down 29.2 per cent) 
  • Mumbai: 3.68 mn sq ft (up 170.3 per cent) 
  • NCR: 2.78 mn sq ft (up 8.1 per cent) 
  • Pune: 3.34 mn sq ft (up 46.4 per cent) 
  • Kolkata: 0.11 mn sq ft (down 36 per cent) 


Vestian’s findings underscore the evolving preference of GCCs for larger, high-quality spaces and their growing role in India’s commercial real estate growth. 

Global Capability Centres (GCCs) emerged as the primary driver of India’s office space demand in FY 2025, accounting for 42 per cent of the pan-India absorption, up marginally from 41 per cent in FY 2024, according to Vestian’s latest report. In absolute terms, GCC leasing grew 24 per cent year-on-year to reach 31.8 million sq ft. While the total leased area expanded, the number of GCC transactions declined by 4 per cent to 305, highlighting a growing preference for larger spaces and long-term expansion. Notably, large transactions—leases above 1 lakh sq ft—rose by 44 per cent, from 15.8 million sq ft in FY 2024 to 22.8 million sq ft in FY 2025. Fortune 500 firms contributed significantly, leasing 13.5 million sq ft, or 43 per cent of total GCC absorption—a 25 per cent increase from the previous year—affirming India’s stature as a strategic destination for global firms. Shrinivas Rao, FRICS, CEO, Vestian, said, “GCCs contribute significantly to the office market in India, accounting for over 40 per cent of the absorption recorded in the past two years. This share is expected to grow even further fuelled by the expansion of large conglomerates from various industries such as IT-ITeS, BFSI, Healthcare & Lifesciences, Engineering & Manufacturing, and Consulting Services. India continues to offer a compelling value proposition through its skilled talent base, operational scalability, and robust ecosystem.” Sectoral insights: IT-ITeS maintained dominance with a 46 per cent share in GCC absorption, though down from 53 per cent in FY 2024. BFSI increased its share to 22 per cent from 14 per cent. Healthcare & Lifesciences also rose from 5 per cent to 8 per cent. Engineering & Manufacturing dropped to 4 per cent from 9 per cent. Consulting Services held steady at 6 per cent. Others (including Automotive, Data Centres, Consumer Goods, Telecom, and Logistics) accounted for 14 per cent, up from 12 per cent. City-wise highlights: Bengaluru led the market with 65 per cent of its overall office leasing coming from GCCs, rising from 55 per cent last year. Fortune 500 companies accounted for 47 per cent of this. Hyderabad followed with a 46 per cent share in citywide leasing, although large deals saw a 5 per cent decline. Chennai saw GCC leasing by IT-ITeS drop from 61 per cent to 54 per cent, while Healthcare & Lifesciences surged to 14 per cent from 4 per cent. Mumbai witnessed a 52 per cent increase in total absorption, with GCCs’ share growing from 15 per cent to 26 per cent. NCR saw Fortune 500 leasing jump to 50 per cent from 40 per cent, with large transactions surging 142 per cent. Pune saw a 46.4 per cent rise in absorption; IT-ITeS held the lion’s share at 61 per cent, followed by BFSI at 16 per cent. Kolkata registered a 36 per cent decline in GCC leasing share. City-wise GCC Office Absorption (FY 2025 vs FY 2024): Bengaluru: 12.43 mn sq ft (up 49.1 per cent) Hyderabad: 6.26 mn sq ft (down 2.9 per cent) Chennai: 3.15 mn sq ft (down 29.2 per cent) Mumbai: 3.68 mn sq ft (up 170.3 per cent) NCR: 2.78 mn sq ft (up 8.1 per cent) Pune: 3.34 mn sq ft (up 46.4 per cent) Kolkata: 0.11 mn sq ft (down 36 per cent) Vestian’s findings underscore the evolving preference of GCCs for larger, high-quality spaces and their growing role in India’s commercial real estate growth. 

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?