India Office Figures Q3 2025

India’s office market maintained its growth trajectory this year, with January-September 2025 achieving the highest-ever absorption for the first nine months of the year. Enquiries for new spaces have remained healthy across industries, underscoring the resilience of occupiers' sentiments in the sector, led by portfolio expansion, workplace optimisation, and the sustained preference for ‘flight-to-quality’ assets.

The sustained momentum resonated with the findings of the recently released CBRE India Office Occupier Survey, where over 70% of the respondents indicated an expansion of their office portfolios. This is supported by India's resilient economic growth and a well-entrenched talent pool.

Below are the key trends observed during the quarter: 

·       Office leasing activity for the first nine months (9M) of the year increased by 2% Y-o-Y and achieved a record ~60 million sq. ft. The space take up was spearheaded by Bengaluru, Mumbai and Delhi NCR, collectively accounting for a share of about 60%. Concurrently, in Q3 2025, absorption touched 19.9 million sq. ft., led by the same gateway cities.

·       New office supply grew by 10% Y-o-Y to reach 41 million sq. ft. in 9M 2025, primarily driven by Pune, Bengaluru, and Delhi-NCR. In Q3 2025, 13.6 million sq. ft. of new completions were witnessed, with Delhi-NCR, Bengaluru, and Hyderabad collectively accounting for a share of 61%.

·       Reflecting the sustained focus on sustainability by developers and occupiers, over 70% of the newly completed office space during Q3 2025 was green-certified, and about 73% of the leasing took place in such assets.

·       During the quarter, technology companies drove the office space take-up with a share of 24%, followed flexible space operators at 21% and engineering and manufacturing (E&M) firms at 15%. In 9M 2025, technology companies, flexible space operators and BFSI corporates led the leasing with a cumulative share of 60%.

·       Domestic firms continued to dominate the quarterly office space absorption, with a share of 46%, followed by American companies at 33%. Meanwhile, domestic demand remained the primary driver of leasing in 9M 2025 as well.

·       Global Capability Centres (GCCs) accounted for a share of 38% of the overall office leasing in Q3 2025, with tech and E&M companies contributing to over half of the total GCC leasing volume.

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