Demand for office space to set up global capability centres (GCCs) in India is driven by foreign banking, financial services and insurance firms, as their gross leasing touched a record 7.32 million sq ft in the January-June period, according to Knight Frank.
Interestingly, leasing by foreign IT-ITeS companies to set up GCCs fell 28 per cent to 4.13 million sq ft in the first six months of this year from 5.71 million sq ft in the year-ago period.
Real estate consultant Knight Frank India noted that foreign banking, financial services and insurance (BFSI) firms leased 7.32 million sq ft of office space during the first half of this year to set up GCCs across eight major Indian cities, a 70 per cent rise from 4.31 million sq ft a year ago.
The eight cities are — Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad and Kolkata.
During January-June 2026, the BFSI sector contributed 36 per cent of the overall leasing of 20.6 million sq ft for GCCs across the leading eight
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