Latest news with #Capability
News18
2 days ago
- Business
- News18
Bengaluru leads Indias office leasing market, vacancy drops to decade low
Last Updated: Bengaluru, Aug 8 (PTI) Bengaluru has emerged as the frontrunner in India's commercial office market, with record leasing activity pushing vacancy levels to a decade low, according to Investment Information and Credit Rating Agency (ICRA). As of June 30, the total Grade A office stock across the top six cities stood at approximately 1,030 msf, with Bengaluru commanding the largest share at 26 per cent, followed by Delhi-NCR with 19 per cent and the Mumbai Metropolitan Region (MMR) with 18 per cent, stated a press release issued by ICRA on Friday. The IT hub is expected to see vacancy ease further from 9.8 per cent to 9.0–9.5 per cent in FY2026, said ICRA. Beyond Bengaluru, Chennai is expected to maintain stable vacancy levels at 9.0–9.5% per cent with approximately 5 million square feet (msf) of new additions. Delhi-NCR is projected to witness a slight improvement, with vacancy levels easing from 22.4 per cent to 21.5–22 per cent, alongside 12 msf of supply. Hyderabad is expected to remain steady with a vacancy range of 17.5–18 per cent and 15.5 million square feet of new space. MMR and Pune are also anticipated to register a decline in vacancy rates, reflecting continued demand and robust net absorption across key markets. ICRA expects this trend to persist through March 2026, supported by consistent demand from Global Capability Centres (GCCs), Banking, Financial Services and Insurance (BFSI) institutions, flex-space operators, and domestic IT-BPM firms, Abhishek Lahoti, Assistant Vice President and Sector Head, Corporate Ratings, ICRA, is quoted as saying. The projected new supply for FY2026 in India is estimated at around 63–64 msf. PTI JR ROH view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
New Indian Express
2 days ago
- Business
- New Indian Express
Tamil Nadu to set up desk for global capability centres
CHENNAI: Tamil Nadu is set to establish a dedicated desk to fast-track clearances and attract research and development-focused Global Capability Centres (GCCs), as the state intensifies its pitch to multinational firms looking to scale up operations or relocate from other parts of India. 'This is about faster clearances for all the GCCs wanting to set up office in TN,' said Industries Minister Dr TRB Rajaa at the GCC Next Summit 2025 in Chennai on Thursday. 'We want to build a thriving research and development ecosystem in Chennai and attract GCCs moving from other states, thanks to our availability of A-grade commercial space and deep talent pool,' he said. The announcement came during the summit, which brought together more than 900 senior executives, to explore the future of GCCs amid rapid advances in artificial intelligence. Themed 'Future-Ready GCCs: How AI is Reshaping Global Capability Centers', the event was hosted by Kreateworks, in partnership with Guidance Tamil Nadu and DLF. Rajaa urged the companies to view Tamil Nadu not just as a service hub, but as a platform for innovation-led growth.
Cision Canada
2 days ago
- Business
- Cision Canada
Deloitte India and Embark collaborate to build and scale GCCs in India
MUMBAI, India, Aug. 7, 2025 /CNW/ -- Deloitte India has announced a strategic alliance with Embark, an integrated platform for Global Capability Centres (GCCs), to offer comprehensive support for global firms establishing and scaling their GCCs in India. According to Deloitte India, GCCs are increasingly central to delivering customer experience, AI innovation, cloud transformation, cybersecurity, and supply chain modernisation. Through the Deloitte-Embark alliance, global firms gain end-to-end GCC support from strategy and location planning to legal, tax, facility setup, and ongoing operations across finance, talent, procurement, and compliance. The goal: de-risk execution, speed up timelines, and enable scalable, future-ready growth. Regarding the collaboration, Vinay Prabhakar, Deloitte South Asia Sales and Alliance Leader, Deloitte India, said,"GCCs have become strategic hubs for driving enterprise transformation. They are powering innovation, accelerating digital agendas, and enabling resilient, future-ready operations. This alliance is a testament to the power of collaboration, bringing together Deloitte India's strategic advisory and Embark's on-ground execution to deliver an integrated, end-to-end solution. It reflects the true 'art of the possible' when complementary capabilities align with a shared vision. Together, we are enabling GCCs to launch and empowering global organisations to reimagine what is possible and leading from India on a global stage." Deepak Mowdhgalya, Partner, Deloitte India, added, "What we are seeing today is not just the growth of GCCs, but a fundamental shift in how global organisations view India as a strategic hub for innovation, beyond mere execution. Yet, many companies struggle to convert vision into reality due to a lack of a trusted advisor-led support system. This alliance with Embark is designed to solve that challenge. By bringing together complementary strengths under one roof, we enable enterprises to move from intent to impact faster, with greater confidence, proven ability, and long-term scalability." Aravind Maiya, Co-founder & CEO of Embark, said, "We are delighted to partner with Deloitte India to offer a first-of-its-kind, integrated GCC solution in India. Our combined strengths will enable global companies to seamlessly enter and scale in the Indian market, using world-class infrastructure." As India continues to position itself as a cornerstone of the global digital economy, such alliances will play a key role in catalysing growth, enabling job creation, and expanding the footprint of high-value, innovation-led services across the country.
News18
3 days ago
- Business
- News18
Office Leasing In India Hits Record Highs In FY2025, Momentum May Sustain In FY2026: ICRA
This robust demand in future will be driven by Global Capability Centres, BFSI players, flex-space operators, and domestic IT-BPM firms, says a ICRA report. India's commercial office leasing market is expected to maintain its strong momentum in FY2026, with net absorption likely to match the all-time high levels seen in FY2025, according to rating agency ICRA. This robust demand will be driven by Global Capability Centres (GCCs), Banking, Financial Services and Insurance (BFSI) players, flex-space operators, and domestic IT-BPM firms. In FY2025, net absorption across the top six Indian cities — Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai Metropolitan Region (MMR), and Pune — reached a record 65 million square feet (msf), marking a 14% year-on-year growth and outpacing new supply of 58 msf. This strength has continued into the first quarter of FY2026, which saw net absorption of 17 msf against a supply of 17.7 msf. 'The slowdown in leasing from global IT firms has been compensated handsomely by the GCCs and the BFSI segments, which ICRA expects will continue to dominate leasing activity, accounting for the majority of the space uptake in FY2026," said Abhishek Lahoti, Assistant Vice President and Sector Head, Corporate Ratings at ICRA. Vacancy Levels Expected to Decline Further According to ICRA, overall vacancy levels across these cities are expected to decline to 13.0–13.5% by March 2026, from 13.9% in March 2025 and 15.5% a year earlier, reflecting the strengthening demand-supply fundamentals in the sector. As of June 30, 2025, the total Grade A office stock across the top six cities stood at approximately 1,030 msf. Bengaluru leads with a 26% share of total supply, followed by Delhi-NCR and MMR. New supply in FY2026 is expected to remain robust at 63–64 msf. City-wise vacancy projections indicate continued demand traction: Improving Credit Metrics for Office Players ICRA also noted that the financial health of office space developers remains stable, supported by improving net operating income (NOI) and stronger leasing trends. 'The credit profile of ICRA's sample set of office players is expected to remain stable, driven by healthy growth in NOI backed by higher rentals. The leverage metrics, as measured by debt/NOI, is expected to improve to 5.0x-5.5x as of March 2026, from 6.0x in FY2025," Lahoti said. The debt service coverage ratio (DSCR) is also projected to strengthen to 1.35x-1.40x in FY2026, up from 1.3x in FY2025, driven by rising NOI and lower interest rates. view comments First Published: August 07, 2025, 15:51 IST News business » real-estate Office Leasing In India Hits Record Highs In FY2025, Momentum May Sustain In FY2026: ICRA Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
4 days ago
- Business
- Time of India
Deloitte India, Embark forge strategic alliance to power next wave of global capability centres
In a move that underscores India's growing stature as the nerve centre of global enterprise transformation , Deloitte India and Embark -- an integrated platform by Embassy Group -- have entered into a strategic alliance to offer end-to-end solutions for Global Capability Centres (GCCs). The partnership aims to support global enterprises in building and scaling their GCCs in India through a comprehensive suite of services spanning strategy, operations, infrastructure, and governance. With over 1,800 GCCs currently operating in India, and projections ranging between 2,400 and 5,000 by 2030, the alliance is looking to tap into growth. India's GCC sector has already seen economic contribution soar from $19 billion in 2015 to over $68 billion in 2024, reflecting a significant shift from cost arbitrage to strategic value creation. Today, one in three Fortune 500 companies has a GCC in India, and increasingly, mid-market firms are emerging as key players. In fact, 27% of the country's GCCs now belong to mid-sized enterprises, according to industry estimates. 'We are beginning to see a significant shift in global enterprises' drivers for setting up a GCC. What started as pure capacity models for enterprise support functions is now moving towards becoming cognitive command centres housing emerging tech capabilities such as Artificial Intelligence (AI), Engineering and Research & Development (ER&D), and other digital capabilities. Carrying an achievable vision of 5,000 GCCs in the next five years, this sector is poised to generate US$150–US$200 billion in direct economic impact, tapping talent beyond metros,' said Romal Shetty, Chief Executive Officer of Deloitte South Asia. The Deloitte–Embark collaboration is designed to guide organisations across the entire GCC lifecycle -- from vision and business case to legal entity setup, tax structuring, infrastructure, talent acquisition, and ongoing operations. Deloitte will bring deep transformation and advisory capabilities, while Embark, backed by Embassy Group's real estate and business ecosystem, will serve as the execution arm on the ground. 'What we are seeing today is not just the growth of GCCs, but a fundamental shift in how global organisations view India as a strategic hub for innovation, beyond mere execution. Yet, many companies struggle to convert vision into reality due to a lack of a trusted advisor-led support system. This alliance with Embark is designed to solve that challenge. By bringing together complementary strengths under one roof, we enable enterprises to move from intent to impact faster, with greater confidence, proven ability, and long-term scalability,' said Deepak Mowdhgalya, Partner, Deloitte India. As India cements its leadership in the global services value chain, the Deloitte–Embark alliance positions itself as a key enabler of the country's next growth frontier, turning GCCs into true engines of innovation, resilience, and enterprise agility. 'Our combined strengths will enable global companies to seamlessly enter and scale in the Indian market, using world-class infrastructure,' said Aravind Maiya, Co-founder & CEO of Embark. Embark offers a one-stop platform for GCC setup and is part of Embassy Group's broader ecosystem, which spans over 54 million sq. ft. of commercial real estate, 45 million sq. ft. of residential projects, and extensive capabilities across managed workspaces, hospitality, and education infrastructure. With Embark, Embassy aims to deliver a frictionless landing zone for global firms looking to tap into India's skilled talent and innovation ecosystem.
