NEW DELHI: According to a report by Colliers India, global capability centres (GCCs) are projected to lease approximately 35-40 million sq ft of Grade-A office space annually over the next two years.
The report indicates that GCCs are expected to represent 45-50% of India’s office space demand in 2026 and 2027.
From 2021 onward, GCCs have leased around 118 million sq ft of Grade-A office space across the top seven cities, accounting for 37% of the overall office demand.
In H1 2026 alone, GCCs leased 16.6 million sq ft, which comprised 46% of the total uptake of Grade-A office space.
“India has firmly established itself as a hub for GCC-led innovation, combining skilled labor, cost advantages, and technological advancements supported by favorable policies and a conducive business environment,” stated Arpit Mehrotra, Managing Director of Office Services at the company.
Bengaluru and Hyderabad have together accounted for over 60% of GCC leasing since 2021. In H1 2026, Bengaluru leased 6.1 million sq ft of GCC space, capturing a 37% share of the total demand. Hyderabad followed closely with 4.3 million sq ft, contributing a 26% share.
Pune saw 2 million sq ft of GCC leasing in H1 2026, representing a 12% share, while Chennai recorded 1.8 million sq ft, constituting an 11% share. Mumbai accounted for 1.2 million sq ft, Delhi-NCR 0.9 million sq ft, and Kolkata 0.3 million sq ft during the same period.
Cumulatively, Chennai experienced a remarkable growth rate of over 4.8 times in GCC leasing in 2025 compared to 2021 levels. Kolkata witnessed a fourfold increase, while Pune saw a growth of 3.1 times, and Bengaluru experienced a 2.3 times growth during this period.
Bengaluru’s leasing surged from 4.6 million sq ft in 2021 to 10.8 million sq ft in 2025, whereas Hyderabad’s leasing rose from 3.8 million sq ft to 5.7 million sq ft.
Chennai’s GCC leasing jumped from 0.9 million sq ft in 2021 to 4.3 million sq ft in 2025, and Pune’s leasing increased from 1.1 million sq ft to 3.4 million sq ft.
Colliers highlighted that the Outer Ring Road in Bengaluru and the Suburban Business District in Hyderabad have emerged as prominent GCC hubs, with the top 10 micro-markets accounting for over 70% of GCC demand.
The report also noted that GCC demand is broadening beyond the tech sector to include banking, financial services, insurance (BFSI) and engineering and manufacturing. The tech sector accounted for 39% of total GCC leasing since 2021, BFSI for 22%, and engineering and manufacturing for 16%.
BFSI leasing by GCCs nearly tripled from 2021 to 2025, while engineering and manufacturing leasing grew by more than 2.5 times during the same span.
“As India’s office market continues to reach new heights, GCCs remain pivotal to its growth trajectory. While the tech sector is likely to maintain dominance, representing 40-50% of GCC leasing in 2026, other sectors are anticipated to gain notable momentum in the coming years,” remarked Vimal Nadar, National Director and Head of Research at the company.
