Indian office leasing stable at 75.2 million sq. ft. in 2025, led by IT, flexible spaces, and global centers.

Indian office leasing reached 75.2 million square feet in 2025, stable year-on-year, with Bengaluru, Delhi-NCR, and Mumbai accounting for 61% of activity. Demand was driven by IT-BPM and flexible workspace sectors, while global capability centers played a key role, especially in Hyderabad. Supply rose to 58.2 million sq. ft., with projections of 90.8 million in 2026. Grade A stock hit 846.9 million sq. ft., and rental growth remained modest despite rising vacancy in some markets.