Latest news with #ArjunAggarwal
Time of India
29-04-2025
- Business
- Time of India
Developers pivot to offer GCCs more than just offices
BENGALURU : Increasing demand from global capability centres (GCCs) is driving commercial real estate developers to go beyond the traditional model of leasing office space to offering "GCC-as-a-service" solutions. Under this, developers such as the Embassy and Bhartiya groups are offering bundled solutions that combine real estate with technology infrastructure, assistance for regulatory compliance and talent acquisition, and operational support. Setting up a GCC in India involves creation of an ecosystem comprising physical infrastructure, people and business operations, said Arjun Aggarwal, managing director at Bhartiya Urban . "In addition to technical talent, they (GCC-as-a-service) provide non-tech services such as supply and vendor management. This flexible, cost-effective model enables companies to scale efficiently while focusing on core business outcomes," he said. Real estate is billed either as an operating expense (opex) or capital expenditure (capex), depending on client needs, while allied services are charged monthly on a per-employee basis. Aravind Maiya, co-founder and chief executive of Embark, said the Embassy Group platform has experienced GCC practitioners to provide end-to-end services to clients. "By owning infrastructure, having deep in-house consultant expertise, and offering a modular, pay-as-you-use service with a transparent cost-plus pricing model, we deliver scale-agnostic, execution-led support...," he said. These are still early days for this model of business, according to industry executives, who said companies from the US, UK, Canada and Austria, primarily operating in the textile, retail, technology, logistics, aviation and pharmaceutical sectors have shown interest in GCC as a service . Aggarwal and Maiya did not name any clients, citing confidentiality clauses. The expansion of GCCs in India was once largely driven by the Big Four professional services firm of EY, Deloitte, KPMG and PwC, along with global consulting giants such as Bain & Company and Boston Consulting Group. These firms played a key role not only in advising multinationals on their India entry strategies but also in designing operational frameworks, managing compliance and building sustainable growth models. Before that, the task of setting up offshore centres was primarily handled by large IT service providers. Industry experts say these platforms can help cut costs by up to 30% compared with the traditional offshore development centre models run by large outsourcing firms, making them an attractive option, especially for GCCs setting up operations with 40-300 employees. India's GCC ecosystem has expanded beyond Fortune 500 companies to include mid-size and emerging enterprises, say experts. "This surge is opening new avenues for real estate developers to create specialised infrastructure like flexible campuses and innovation hubs tailored to GCC needs," said Ram Chandnani, managing director, advisory and transaction services, at commercial real estate services firm CBRE India. Over the past year, several mid-size GCCs employing 1,000-2,000 people have entered India, joining larger corporations that already have workforces of 10,000-15,000, across functions such as customer support, analytics and R&D. New entrants include Flutter Entertainment, Hy-Vee, ChampionX and Okta. "While GCCs are typically associated with large campuses, nearly 30% of leasing in the past 3-4 years was through smaller, sub-100,000-sq-ft deals," said Sankey Prasad, CMD, Middle East & India at Colliers, which mentioned a 40% rise in average leasing deal sizes for GCCs, reflecting a shift towards large, scalable operations.
Time of India
29-04-2025
- Business
- Time of India
Realty developers bet on GCC-as-a-service model as office leasing soars
Increasing demand from global capability centres (GCCs) is driving commercial real estate developers to go beyond the traditional model of leasing office space to offering 'GCC-as-a-service' solutions. #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" Under GCC-as-a-service, developers such as the Embassy and Bhartiya groups are offering bundled solutions that combine real estate with technology infrastructure, assistance for regulatory compliance and talent acquisition, and operational support. Setting up a GCC in India involves creation of an ecosystem comprising physical infrastructure, people and business operations, said Arjun Aggarwal, managing director at Bhartiya Urban . 'In addition to technical talent, they (GCC-as-a-service) provide non-tech services such as supply and vendor management. This flexible, cost-effective model enables companies to scale efficiently while focusing on core business outcomes,' he said. Real estate is billed either as an operating expense (opex) or capital expenditure (capex), depending on client needs, while allied services are charged monthly on a per-employee basis. Aravind Maiya, cofounder and chief executive of Embark, said the Embassy Group platform has experienced GCC practitioners to provide end-to-end services to clients. 'By owning infrastructure, having deep in-house consultant expertise, and offering a modular, pay-as-you-use service with a transparent cost-plus pricing model, we deliver scale-agnostic, execution-led support…,' he said. These are still early days for this model of business, according to industry executives, who said companies from the US, UK, Canada and Austria, primarily operating in the textile, retail, technology, logistics, aviation and pharmaceutical sectors have shown interest in GCC as a service . Aggarwal and Maiya did not name any clients, citing confidentiality clauses. The expansion of GCCs in India was once largely driven by the Big Four professional services firms of EY, Deloitte, KPMG and PwC, along with global consulting giants such as Bain & Company and Boston Consulting Group. These firms played a key role not only in advising multinationals on their India entry strategies but also in designing operational frameworks, managing compliance and building sustainable growth models. Before that, the task of setting up offshore centres was primarily handled by large IT service providers. Industry experts say these platforms can help cut costs by up to 30% compared with the traditional offshore development centre models run by large outsourcing firms, making them an attractive option, especially for GCCs setting up operations with 40-300 employees. India's GCC ecosystem has expanded beyond Fortune 500 companies to include mid-size and emerging enterprises, say experts. 'This surge is opening new avenues for real estate developers to create specialised infrastructure like flexible campuses and innovation hubs tailored to GCC needs,' said Ram Chandnani, managing director, advisory and transaction services, at commercial real estate services firm CBRE India. Over the past year, several mid-size GCCs employing 1,000-2,000 people have entered India, joining larger corporations that already have workforces of 10,000-15,000, across functions such as customer support, analytics and R&D. New entrants include Flutter Entertainment, Hy-Vee, ChampionX and Okta. 'While GCCs are typically associated with large campuses, nearly 30% of leasing in the past 3–4 years was through smaller, sub-100,000-sq-ft deals,' said Sankey Prasad, chairman & managing director, Middle East & India at Colliers, which mentioned a 40% rise in average leasing deal sizes for GCCs, reflecting a shift towards large, scalable operations. GCCs have evolved beyond traditional BPO and KPO models, now serving as advanced hubs for innovation and research. Cities like Bengaluru and Hyderabad have led this growth. These two southern cities together had a 60% share in all GCC leasing in India since 2021. According to CBRE's India Office Report for the first quarter of this year, GCCs accounted for 45% in total office leasing at 8.0 million sq ft — a 66% jump year-on-year. In 2025, CBRE anticipates that GCCs will account for 35–40% of total office space absorption in top cities. North American firms continue to be the mainstay of GCCs in India.
Time of India
28-04-2025
- Business
- Time of India
Developers pivot to offer GCCs more than just offices
Bengaluru: Increasing demand from global capability centres (GCCs) is driving commercial real estate developers to go beyond the traditional model of leasing office space to offering "GCC-as-a-service" solutions. Under this, developers such as the Embassy and Bhartiya groups are offering bundled solutions that combine real estate with technology infrastructure, assistance for regulatory compliance and talent acquisition, and operational support. #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" Setting up a GCC in India involves creation of an ecosystem comprising physical infrastructure, people and business operations, said Arjun Aggarwal, managing director at Bhartiya Urban . "In addition to technical talent, they (GCC-as-a-service) provide non-tech services such as supply and vendor management. This flexible, cost-effective model enables companies to scale efficiently while focusing on core business outcomes," he said. Real estate is billed either as an operating expense (opex) or capital expenditure (capex), depending on client needs, while allied services are charged monthly on a per-employee basis. Aravind Maiya, co-founder and chief executive of Embark, said the Embassy Group platform has experienced GCC practitioners to provide end-to-end services to clients. "By owning infrastructure, having deep in-house consultant expertise, and offering a modular, pay-as-you-use service with a transparent cost-plus pricing model, we deliver scale-agnostic, execution-led support...," he said. These are still early days for this model of business, according to industry executives, who said companies from the US, UK, Canada and Austria, primarily operating in the textile, retail, technology, logistics, aviation and pharmaceutical sectors have shown interest in GCC as a service . Aggarwal and Maiya did not name any clients, citing confidentiality clauses. The expansion of GCCs in India was once largely driven by the Big Four professional services firm of EY, Deloitte, KPMG and PwC, along with global consulting giants such as Bain & Company and Boston Consulting Group. These firms played a key role not only in advising multinationals on their India entry strategies but also in designing operational frameworks, managing compliance and building sustainable growth models. Before that, the task of setting up offshore centres was primarily handled by large IT service providers. Industry experts say these platforms can help cut costs by up to 30% compared with the traditional offshore development centre models run by large outsourcing firms, making them an attractive option, especially for GCCs setting up operations with 40-300 employees. India's GCC ecosystem has expanded beyond Fortune 500 companies to include mid-size and emerging enterprises, say experts. "This surge is opening new avenues for real estate developers to create specialised infrastructure like flexible campuses and innovation hubs tailored to GCC needs," said Ram Chandnani, managing director, advisory and transaction services, at commercial real estate services firm CBRE India. Over the past year, several mid-size GCCs employing 1,000-2,000 people have entered India, joining larger corporations that already have workforces of 10,000-15,000, across functions such as customer support, analytics and R&D. New entrants include Flutter Entertainment, Hy-Vee, ChampionX and Okta. "While GCCs are typically associated with large campuses, nearly 30% of leasing in the past 3-4 years was through smaller, sub-100,000-sq-ft deals," said Sankey Prasad, CMD, Middle East & India at Colliers, which mentioned a 40% rise in average leasing deal sizes for GCCs, reflecting a shift towards large, scalable operations.
Time of India
24-04-2025
- Business
- Time of India
Bhartiya Urban ventures into GCC space with Bhartiya Converge
Bhartiya Urban has forayed into Global Capability Centre (GCC) enablement platform segment under Bhartiya Converge , a tailored and integrated suite of microservices built to address the evolving operational needs of GCC , fostering agility, efficiency, and scalable growth. 'Setting up a GCC in India is not just about finding office space or hiring talent. It is a complex interplay of physical infrastructure, talent and business operations to create an integrated ecosystem supported by the vision of a global strategy. At Bhartiya Urban, we have created a proven ecosystem that brings all of these facets together; and with Bhartiya Converge, we are formalising that into a scalable, service-first model tailored to organisations of all sizes seeking strategic advantage through their India operations,' said Arjun Aggarwal , Vice Chairman & Managing Director, Bhartiya Urban. The Bhartiya Converge model eliminates vendor markups and coordination delays while driving cost efficiency, flexibility and faster turnaround time. Currently, leading global corporations across industries like technology, retail, logistics, aviation, pharmaceutical and more are already availing facilities beyond workspaces offered by Bhartiya Urban. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Breaks His Silence: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo Sriram Chidambaram, Executive Director, Bhartiya Urban, a business leader in the technology and GCC space, will provide the required guidance, support and mentorship as Chief Mentor, Bhartiya Converge. 'At Bhartiya Converge, we will leverage capabilities from within our ecosystem, accelerate turnaround time, and create an environment optimised for innovation and strategic value creation. Global Capability Centres will transform from being just cost centres to strategic assets giving clients a competitive advantage and driving business growth,' said Sriram. Live Events To lead this initiative, Monica Pirgal has been appointed as CEO of Bhartiya Converge, with over 25 years of experience across consulting, banking, retail, and technology. Pirgal previously served as Vice-President and Site Head for Neiman Marcus Group in Bangalore, where she built and led a captive centre. Her career includes leadership roles at global giants like Goldman Sachs and Lowe's, enabling and scaling GCCs with employee headcounts ranging from 100 to 8000+. 'The GCC revolution has just begun, and Bhartiya Converge is making a serious, long-term bet on the future of GCCs in India, ready to dominate and lead the industry. I'm excited to bring my experience to shape and lead this journey. Bhartiya Converge is built to eliminate friction, whether it's around regulatory approvals, cost control, or building high-performance teams. Our goal is to make India not just a viable destination, but a strategic advantage,' said Monica Pirgal, CEO, Bhartiya Converge.' The leadership team at Bhartiya Converge comprises professionals with rich experience across technology, strategy, compliance and legal, human resources, finance and marketing. According to experts India is rapidly becoming the global headquarters for Global Capability Centres, with over 1,600 GCCs already operating in the country and another 600-800 expected to enter over the next 3–5 years, creating a talent ecosystem of over 2 Mn. professionals. The opportunity spans across sectors — from automotive, BFSI, pharma and fintech to fashion, retail, F&B, healthcare, and agro-tech.
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Business Standard
24-04-2025
- Business
- Business Standard
Bhartiya Group launches new venture, to serve as GCC enablement platform
Bhartiya Urban has launched Bhartiya Converge, a new business venture that will serve as a Global Capability Centre (GCC) enablement platform, offering advisory, consultancy, operations, and management services to global organisations seeking to establish GCCs in India. Arjun Aggarwal, vice chairman and managing director of Bhartiya Urban, told Business Standard in an exclusive interaction that the platform is now officially available for companies, and the leadership team is actively engaging with potential global and domestic clients. Bhartiya Converge, which will operate under Bhartiya Urban, aims to streamline the GCC setup process through a scalable, service-oriented model designed to provide strategic advantages to organisations through their India operations. The platform offers a customised and integrated suite of microservices tailored to the evolving operational needs of each GCC. It aims to enable agility, efficiency, and scalable growth while eliminating vendor mark-ups and coordination delays, thereby offering enhanced cost efficiency, flexibility, and quicker turnaround times. Aggarwal highlighted Bhartiya's unique position in the market: 'I am one of the only players in the market today who is completely backward integrated. I have my own construction company. There will be a dedicated block within Bhartiya City in Bengaluru for GCCs, which is owned by us. The campus already hosts many top-tier GCCs.' The company plans to open offices in the United States and Europe, where it already has a presence through its fashion business design centres. Explaining the rationale behind entering the GCC space, Aggarwal said, 'This is not just a real estate strategy. It is a strategy for value creation for both Bhartiya and global companies to partner and extract that value from India for global operations.' He added that the move is aligned with India's transformation from a back-office hub to a centre for innovation and research and development: 'The government has taken an initiative, and today the world recognises India's capability beyond the back office—as the front-end office, as thought leaders, as innovation leaders.' The company has appointed Monica Pirgal as the chief executive officer of Bhartiya Converge. Pirgal previously served as vice-president and site head for Neiman Marcus Group in Bengaluru. 'The GCC revolution has just begun, and Bhartiya Converge is making a serious, long-term bet on the future of GCCs in India, ready to dominate and lead the industry,' she said. Sriram Chidambaram, executive director, Bhartiya Urban, will serve as chief mentor, providing strategic guidance to the new platform. 'Global Capability Centres will transform from being just cost centres to strategic assets, giving clients a competitive advantage and driving business growth,' said Chidambaram. India is rapidly emerging as a global hub for GCCs, with over 1,600 currently operating in the country. The number is expected to double over the next three to five years across sectors such as technology, retail, logistics, aviation, and pharmaceuticals. Bhartiya Converge will leverage Bhartiya Urban's existing strengths in real estate, design, and construction. The platform will offer services including real estate solutions, fit-outs, and technology consulting. Bhartiya Urban's flagship project, Bhartiya City in Bengaluru, is a large integrated township featuring residences, workspaces, a retail mall, a school, luxury residences, and a hotel and convention centre, creating a comprehensive ecosystem for GCCs, Aggarwal added.
