India’s GCC Leasing Hits Record High in Q1 2026

New Delhi: Leasing by Global Capability Centres (GCCs) in India surged to a record 9.1 million square feet during the January–March quarter of 2026, marking the highest-ever quarterly absorption, according to a report by CBRE South Asia Pvt Ltd.

This strong performance comes alongside a record-breaking overall office leasing of 20.7 million square feet during the same period, reflecting steady demand across India’s commercial real estate sector. Compared to 19.7 million sq ft in Q1 2025, total leasing activity saw a 5 per cent year-on-year growth, highlighting the sector’s resilience.

Anshuman Magazine said the surge in GCC leasing reinforces India’s status as a preferred global hub for high-value and complex business operations. He noted that demand is no longer limited to a single sector but is spread across industries such as e-commerce, technology, and BFSI.

A notable trend is the rise of mid-market and nano GCCs, which are reshaping the ecosystem. Mid-sized centres are evolving into advanced transformation hubs, handling end-to-end global operations in areas like fintech, SaaS, and digital engineering. Meanwhile, smaller “nano” GCCs are emerging as agile innovation units, focusing on AI prototyping and specialised research and development, often using flexible workspace models.

The report revealed that GCCs contributed 44 per cent of total office leasing in Q1 2026, with American companies accounting for a dominant 73 per cent share. Sector-wise, e-commerce led demand at 24 per cent, followed by BFSI and technology (20 per cent each), and research, consulting, and analytics (19 per cent).

Among cities, Bengaluru topped the chart with a 48 per cent share of GCC leasing, followed by Hyderabad at 19 per cent and Delhi-NCR at 14 per cent.

Ram Chandnani added that demand is now expanding across both sectors and cities, indicating a broader and more diversified growth trajectory for India’s office market.

With inputs from IANS