GCCs Lead India's Office Leasing Surge in FY 2025: Vestian
Notably, large deals (above 1 lakh sq ft) surged by 44%, totaling 22.8 Mn sq ft, indicating expansion plans by Fortune 500 and multinational players. Fortune 500 GCCs alone leased 13.5 Mn sq ft, contributing 43% to the overall GCC leasing share.
Sectoral Trends:
While IT-ITeS remained the top contributor with a 46% share, its dominance has slightly declined. The BFSI sector grew significantly to 22%, and Healthcare & Lifesciences increased its footprint to 8%.
City Highlights:
Bengaluru led with 12.43 Mn sq ft leased by GCCs (65% of total city absorption).
Mumbai witnessed a remarkable 170% increase , driven by new GCC entrants.
Hyderabad and Chennai recorded cautious sentiment, with leasing dipping 2.9% and 29.2% respectively.
NCR showed increased preference for large-sized deals, with a 142% jump in such transactions.
Pune saw a 46.4% rise, led by IT-ITeS and BFSI.
According to Shrinivas Rao, FRICS, CEO, Vestian, 'India remains a preferred GCC destination due to its talent base, scalability, and robust infrastructure. The diversified sectoral spread and increased leasing activity by Fortune 500 firms highlight India's growing strategic importance in global operations.'
The report confirms a maturing GCC ecosystem with deeper regional presence and cross-industry integration, paving the way for sustained momentum in India's office market.
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