Hyderabad is quickly becoming one of India’s top cities for office space leased by Global Capability Centres (GCCs). In the first quarter of 2025, the city played a major role in the growing demand for commercial real estate driven by these global hubs, according to a recent report by ANAROCK Research.
GCCs leased a total of 8.35 million square feet of office space across India’s top seven cities during Q1 2025. That’s a big jump—about 72% more than the 4.87 million square feet leased during the same period in 2024.
Bengaluru led the pack with 3.3 million square feet leased. Delhi-NCR followed with 1.91 million square feet. Though leasing in Hyderabad dipped slightly to 0.82 million square feet (compared to 1.22 million in Q1 2024), it still remained a key market. Chennai did better with 1.22 million square feet, putting it ahead of Hyderabad this quarter.
In total, the top seven Indian cities recorded 19.47 million square feet in gross office leasing in Q1 2025. GCCs were responsible for 43% of that activity, showing just how important they are to India’s real estate scene.
Over the past two years (2023 and 2024), these cities saw a combined leasing of 141.43 million square feet. Out of that, GCCs took up 52.88 million square feet, which is more than 37% of the total.
Looking at which industries are driving this demand, IT and ITeS companies made up 35% of all GCC leasing in Q1 2025. BFSI (Banking, Financial Services, and Insurance) followed with 22%, while the manufacturing and industrial sector contributed 13%. E-commerce and consulting firms accounted for 6% and 5% respectively. The remaining 19% came from other sectors.
In terms of origin, most GCCs leasing space in India are backed by companies from the United States—about 65% in 2024. Europe and the Middle East contributed 28%, with only 7% coming from the Asia-Pacific region.
By the end of 2024, India had over 1,700 GCCs, employing an estimated 1.7 to 1.8 million people. ANAROCK expects this number to grow to more than 1,900 GCCs in 2025, with up to 1.9 million professionals and a combined market size between $60 and $70 billion.
Looking ahead to 2030, the number of GCCs in India could rise to between 2,200 and 2,300, with a market value reaching up to $110 billion and a workforce of around 2.8 million.
The growth isn’t just limited to metro cities anymore. Tier 2 and Tier 3 cities like Ahmedabad, Kochi, and Coimbatore are now on the radar for new GCCs. These cities offer a skilled talent pool, lower costs, and improving infrastructure—all backed by government support.
GCCs are also expanding beyond traditional sectors like IT and BFSI. More companies in manufacturing and industrial fields are setting up operations in India, which is helping the country widen its capabilities and attract more global business.
