Hyderabad emerges as India’s No.2 GCC leasing hub
Hyderabad city is intensifying its efforts in the global captive center (GCC) leasing race. The city has secured a significant position in attracting global centers across the country. In a recent survey, Hyderabad ranked second in the country. This recognition comes from the latest study released by Savills India. Between 2020 and 2024, GCCs leased a total of 18.6 million square feet of office space for their operations in Hyderabad.
Hyderabad has emerged as a leading city globally for establishing Global Captive Centers (GCCs). Hyderabad ranked second in GCC leasing across the country with a 17 percent share. Bengaluru topped the list with a 38 percent share, followed by Pune at 14 percent, Chennai at 11 percent, Delhi NCR at 11 percent, and Mumbai at 8 percent. It's noteworthy that the top three cities account for 86 percent of the total leasing!
According to the Savills report, during 2020-24, commercial organizations across the country leased 262 million square feet of office space, of which GCCs accounted for 112 million square feet. This means that GCCs contributed 43 percent to the total leasing. The report estimates that the expansion of GCCs will continue in the future. Savills India has analyzed that between 2025 and 2030, GCCs across the country could lease approximately 30 million square feet of new office space.
The report states that Hyderabad has become a major hub for GCCs in the healthcare and pharmaceutical sectors. Organizations from technology, healthcare, pharmaceuticals, banking, financial services, and insurance (BFSI) sectors are prioritizing Hyderabad for establishing their global centers.
The Savills report identifies factors such as the availability of skilled young professionals, lower cost of living compared to international cities, affordable office rents, and a conducive environment for hybrid work models as the main factors attracting GCCs. Furthermore, the increasing focus on eco-friendly offices has become an added attraction for the city.
Currently, there are approximately 1,800 GCCs (Global Capability Centers) operating in the country, employing around 1.9 million people. By 2030, the number of GCCs across the country is expected to reach 2,200, and employment opportunities are projected to increase to 2.8 million. Industry experts believe that Hyderabad will remain a key city in this growth.
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