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India's GCC Leasing Hits Record 9.1 Million Sq. Ft. in Q1 2026

Global Capability Centres (GCCs) in India achieved a record quarterly leasing of 9.1 million square feet in the first quarter of 2026, according to a CBRE report. This contributed to an overall office sector absorption of 20.7 million sq. ft., the highest ever for a Q1 period. Bengaluru dominated the GCC market with a 48% share, followed by Hyderabad and Delhi-NCR. The demand was largely driven by American firms across sectors like e-commerce, technology, and BFSI, with a strong preference for modern, green-certified office spaces.

Key Points: Record GCC Leasing in India Hits 9.1M Sq. Ft. in Q1 2026

  • GCC leasing hits record 9.1M sq. ft.
  • Overall office absorption reaches 20.7M sq. ft.
  • Bengaluru leads with 48% GCC share
  • 83% of GCC leasing in green-certified tech parks
  • American firms drive 73% of GCC demand
2 min read

GCCs leasing in India hit a record high of 9.1 mln sq. ft., in Jan-Mar 2026: CBRE report says

CBRE report shows record-high GCC leasing of 9.1 million sq. ft. in India's office market for Q1 2026, with overall absorption at 20.7 million sq. ft.

"The record GCC leasing activity is a definitive signal of India's position as the global destination of choice for high-complexity capability functions. - Anshuman Magazine"

New Delhi, April 6

Global Capacity Centres hit a record high of 9.1 million square feet during January-March, which is said to be the highest quarterly absorption of GCCs on record, according to "India Office Figures Q1 2026" released by CBRE South Asia Pvt. Ltd. on Monday. The overall office sector registered a gross absorption of 20.7 million square feet, marking the highest level record for the Jan-Mar period, the report said.

As compared to 19.7 million sq. ft. in Q1 2025, overall leasing was up 5% this year, underscoring the structural resilience of the office sector as occupiers' appetite continues to hold steady.

"The record GCC leasing activity is a definitive signal of India's position as the global destination of choice for high-complexity capability functions," said Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE. "It is significant that this demand is not concentrated in a single sector but spans across sectors, including e-commerce, technology, and BFSI, and is increasingly being driven by mid-market and nano GCCs alongside established Fortune 500 occupiers. Coupled with overall office absorption hitting its highest-ever Q1 level, these numbers reflect the maturity and depth of India's office market fundamentals."

The report also highlighted that GCCs accounted for 44% of the total office absorption in Q1 2026. This was largely dominated by American firms, contributing 73% of the total GCC leasing. From a sector perspective, e-commerce (24%), BFSI (20%), technology (20%), and research, consulting & analytics (19%) were the leading demand drivers.

Among the top cities, Bengaluru led GCC leasing with a 48% share, followed by Hyderabad at 19% and Delhi-NCR at 14%.

Notably, 83% of GCC leasing was concentrated in green-certified tech parks and 78% in buildings less than 10 years old, reflecting GCCs' decisive preference for premium, future-ready workspaces. In terms of total office leasing, about 79%--around 16.3 million sq. ft.--was in green-certified assets. Around 70% of transactions occurred in buildings less than 10 years old.

Bengaluru led city-wise office leasing with a 29% share, followed by Delhi-NCR (22%) and Mumbai (16%). These cities accounted for ~67% of pan-India absorption, the report said. Flexible space operators and technology firms jointly accounted for ~40% of the overall space take-up, with domestic firms driving flex leasing and U.S.-based corporations anchoring technology and BFSI demand.

- ANI

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Reader Comments

P
Priya S
Impressive numbers! The focus on green-certified buildings is a very positive sign. It shows global companies are not just looking for cost arbitrage but are investing in sustainable, modern infrastructure here. Hope this trend continues and spreads to more tier-2 cities as well.
R
Rohit P
While the growth is good, I hope it translates into better urban planning. Bengaluru's traffic and infrastructure are already struggling. Can our cities handle this massive influx of office space without collapsing? Authorities need to plan for public transport and housing alongside this.
S
Sarah B
Working in a GCC in Hyderabad, I can see this firsthand. The campus is world-class, and the projects are complex and global. It's a great environment. The report mentioning mid-market and nano GCCs is interesting – shows the ecosystem is maturing beyond just the giants.
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Vikram M
73% from American firms... our dependency on the US market is still very high. We need to diversify and attract more European and Asian companies to build true resilience. Otherwise, a slowdown there could hit us hard. Just a thought.
K
Kavya N
As someone from a smaller city, I wish some of this growth would trickle down. All the action is in Bengaluru, Hyderabad, Delhi-NCR. What about developing hubs in places like Pune, Chennai, or Ahmedabad more aggressively? Need a more balanced regional development.

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