BENGALURU: Charles Schwab, a US-based financial services firm, has leased approximately 3.45 lakh sq ft of office space in Gachibowli, Hyderabad, as part of its expansion of global capability center (GCC) operations in India.
The company has secured space in Phoenix Equinox Tower 2, a commercial property owned by Phoenix IT City Private Limited, located in Hyderabad’s prime IT corridor.
According to documents from Propstack, “The five-year lease, based on the escalation structure, could result in a total rental commitment of around Rs 247 crore. The agreement also includes an annual rental increase of 5%, with a security deposit of Rs 25.28 crore made by the tenant.”
The lease has been signed by Charles Schwab Services India Private Limited, marking one of the notable office leasing agreements by a global financial service in Hyderabad recently, as multinational companies continue to expand their tech and operations centers in India.
The company has leased five floors—10, 11, 12, 13, and 14—within the tower, covering a total area of 3.45 lakh sq ft. The agreement is a fresh lease with a tenure of 60 months, establishing rent at Rs 108 per sq ft per month, leading to a monthly rental expense of approximately Rs 3.73 crore. Annually, this translates to about Rs 44.76 crore.
The lease will commence in phases, with rental payments for the first phase starting in April 2026 and the second phase commencing in July 2026.
This deal underscores the ongoing momentum in Hyderabad’s office market, particularly in the Gachibowli-Financial District corridor, which is emerging as a significant hub for global capability centers across technology, finance, and consulting sectors.
Hyderabad has witnessed a surge in demand from multinational corporations establishing GCCs to facilitate global operations in technology development, analytics, back-office functions, and innovation. The city’s offering of large Grade A office campuses, a skilled technological workforce, and competitive rental rates compared to major cities have attracted considerable tenant interest.
In recent years, major global financial institutions, technology firms, and consulting companies have bolstered their presence in the city, enhancing leasing activity in key office environments such as Gachibowli, the Financial District, and HITEC City.
For firms like Charles Schwab, India is becoming increasingly crucial for technology and operational support. Global financial service providers are progressively expanding their Indian sites to leverage the country’s engineering talent and enhance digital capabilities that support international operations.
A report by CBRE noted that Hyderabad recorded approximately 11.4 million sq ft of gross office leasing in 2025, representing a 10% year-on-year growth and establishing it as one of India’s strongest office markets. Much of the demand stems from GCCs, which accounted for roughly 50% of total office absorption in the city that year.
