India Office Figures Q4 2025

India’s office sector demonstrated remarkable resilience in 2025, surpassing previous milestones to set a new annual record for leasing activity. Despite global headwinds—including geopolitical shifts and talent mobility challenges - the sector’s performance remained healthy. This sustained momentum was fuelled by the continued expansion of domestic corporates, and global firms scaling their global capability centre (GCC) operations. Looking ahead, the country's office market is poised for further growth in 2026, underpinned by strategic portfolio expansions, workplace optimisation, and a clear ‘flight-to-quality’ trend, as occupiers increasingly prioritise premium assets.

Below are the key trends observed during the quarter and the year:

• Office leasing during 2025 reached a record 82.6 million sq. ft. (up ~1% Y-o-Y), driven by Bengaluru, Mumbai, and Delhi-NCR. These cities together accounted for about 61% of total space take-up. Meanwhile, in Q4 2025, absorption touched 22.2 million sq. ft., led by Bengaluru, Mumbai and Delhi-NCR.
• New completions surged 10% Y-o-Y to reach a peak of 58.9 million sq. ft. in 2025. Bengaluru, Hyderabad, and Pune, dominated with a cumulative share of 64%. During Q4 2025, 16.6 million sq. ft. of new development completions were recorded, with Hyderabad and Bengaluru collectively accounting for a 64% share.
• Sustainability remained a priority for developers and occupiers alike; in Q4 2025, green-certified assets represented 93% of newly completed office space and 75% of all leasing activity
• Technology companies, flexible space operators, and banking, financial services and insurance (BFSI) firms remained the primary demand drivers throughout the quarter and the year. 
• Domestic firms continued to dominate office space absorption during the quarter, with a share of 46%, followed by U.S. companies at 37%. Strong domestic demand, led by flex players, also propelled absorption activity throughout the year.
• GCCs accounted for 39% of office absorption in Q4 2025; technology and BFSI firms spearheaded nearly half of this activity.

To gain deeper insights into our analysis of the Indian office market and city-specific dynamics, please click the download button.