{"id":17924,"date":"2026-08-29T16:08:17","date_gmt":"2026-08-29T16:08:17","guid":{"rendered":"https:\/\/koshalsambada.in\/?p=17924"},"modified":"2026-08-29T16:08:17","modified_gmt":"2026-08-29T16:08:17","slug":"bfsi-firms-drive-indias-gcc-office-leasing-as-demand-shifts-beyond-tech","status":"publish","type":"post","link":"https:\/\/koshalsambada.in\/?p=17924","title":{"rendered":"BFSI firms drive India\u2019s GCC office leasing as demand shifts beyond tech"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<div class=\"e9jwa\">\n<div class=\"vdo_embedd\">\n<div class=\"GfdvZ\">\n<section class=\"_bIDB  clearfix id-r-component leadmedia undefined undefined  E9tg9 \" style=\"top:0px\">\n<div class=\"_bIDB\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"ypVvZ\">\n<div class=\"WGttI\"><img src=\"https:\/\/static.toiimg.com\/thumb\/msid-133615147,imgsize-816543,width-400,height-225,resizemode-4\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg\" alt=\"BFSI firms drive India\u2019s GCC office leasing as demand shifts beyond tech\" title=\"BFSI firms drive India\u2019s GCC office leasing as demand moves beyond tech\" decoding=\"async\" fetchpriority=\"high\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"Ta7d_ img_cptn\"><span title=\"BFSI firms drive India\u2019s GCC office leasing as demand moves beyond tech\">BFSI firms drive India\u2019s GCC office leasing as demand moves beyond tech<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>Foreign banking, financial services and insurance (BFSI) companies significantly increased their office space leasing for global capability centres (GCCs) in India during the first half of 2026, while demand from foreign IT-ITeS firms declined, Knight Frank India data showed.<span class=\"id-r-component br\" data-pos=\"2\"\/>BFSI companies leased 7.32 million sq ft of office space across eight major cities between January and June, up 70% from 4.31 million sq ft in the same period last year. Their share stood at 36% of the total 20.6 million sq ft leased for GCCs across the eight markets.<span class=\"id-r-component br\" data-pos=\"4\"\/>The cities covered in the data were Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad and Kolkata.<span class=\"id-r-component br\" data-pos=\"6\"\/>The sharp rise in BFSI leasing came alongside a 28% decline in office space taken by foreign IT-ITeS companies for GCCs. <!-- -->Their leasing fell to 4.13 million sq ft in the first six months of 2026 from 5.71 million sq ft a year earlier.<span class=\"id-r-component br\" data-pos=\"11\"\/>&#8220;India&#8217;s commercial real estate market is witnessing a clear structural shift, with GCC-led demand becoming increasingly diversified beyond traditional technology occupiers,&#8221; said Viral Desai, international partner, senior executive director, Occupier Strategy Solutions, Industrial &amp; Logistics, Capital Markets &amp; Retail, Knight Frank India.<span class=\"id-r-component br\" data-pos=\"14\"\/>The 70% year-on-year surge in BFSI-led GCC transactions underscores the sector&#8217;s growing appetite for high-quality office spaces, he added.<span class=\"id-r-component br\" data-pos=\"16\"\/>Demand from other service companies moved in the opposite direction, with their office leasing rising to 5.10 million sq ft from 4.41 million sq ft during the period.<span class=\"id-r-component br\" data-pos=\"18\"\/>Desai noted that the strong growth in other service sectors points to a broader expansion of India&#8217;s services economy.<span class=\"id-r-component br\" data-pos=\"21\"\/>&#8220;The moderation in IT\/ITeS absorption reflects a period of recalibration as occupiers realign their global strategies. This evolving demand profile highlights the increasing depth and resilience of India&#8217;s commercial real estate market, with BFSI emerging as a key driver of office space demand in 2026,&#8221; Desai said.<span class=\"id-r-component br\" data-pos=\"24\"\/>Global manufacturing companies also reduced their GCC-related office leasing, with absorption declining to 4.05 million sq ft in January-June 2026 from 4.67 million sq ft in the year-ago period.<span class=\"id-r-component br\" data-pos=\"27\"\/>Accuspace managing director Mukesh Choudhary said, &#8220;India&#8217;s GCC ecosystem is entering a decisive phase of expansion, with state-level policies, skilled workforce, incentives and infrastructure commitments creating a strong pipeline of new centres and employment&#8221;.<span class=\"id-r-component br\" data-pos=\"29\"\/>The scale of GCC additions and diversification is likely to translate into sustained demand for quality office space, not just in established hubs but also across emerging markets, Choudhary added.<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/real-estate\/news\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-shifts-beyond-tech\/articleshow\/133614948.cms\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BFSI firms drive India\u2019s GCC office leasing as demand moves beyond tech Foreign banking, financial services and insurance (BFSI) companies significantly increased their office space leasing for global capability centres (GCCs) in India during the first half of 2026, while demand from foreign IT-ITeS firms declined, Knight Frank India data showed.BFSI companies leased 7.32 million [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-17924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-31"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","medium_large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","1536x1536":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","2048x2048":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","blogsy-small":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","blogsy-small-tall":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","blogsy-small-square":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","blogsy-small-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","blogsy-medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","blogsy-medium-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","blogsy-large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg","blogsy-wide":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bfsi-firms-drive-indias-gcc-office-leasing-as-demand-moves-beyond-tech.jpg"},"magazineBlocksPostAuthor":{"name":"admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"BFSI firms drive India\u2019s GCC office leasing as demand moves beyond tech Foreign banking, financial services and insurance (BFSI) companies significantly increased their office space leasing for global capability centres (GCCs) in India during the first half of 2026, while demand from foreign IT-ITeS firms declined, Knight Frank India data showed.BFSI companies leased 7.32 million [&hellip;]","magazineBlocksPostCategories":["\u0b26\u0b47\u0b36 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