Latest news with #GlobalCapabilityCentres
Times of Oman
a day ago
- Business
- Times of Oman
GCCs to contribute 2% to India's GDP and create 2.8 mn jobs by 2030: Report
New Delhi: Global Capability Centres (GCCs) are set to contribute 2 per cent of India's GDP and generate 2.8 million jobs by 2030, and are emerging as a key growth and employment generator, according to a report by ACCA (the Association of Chartered Certified Accountants). GCCs, also known as Global In-house Centers (GICs) or Captive Centers, are fully owned and integrated hubs established by multinational corporations in talent-rich locations to build value and intellectual property. They leverage global talent pools and technological advancements to enhance organizational capabilities and drive business transformation. With over 1700 GCCs in 2023-24, which is expected to rise to over 2200 by 2030, India has become the prominent destination for the MNCs to set up their centres. Highlighting the favourable factors, the report said that a skilled workforce, favourable government policies, and improving infrastructure fuel the growth of GCCs in India. In Financial Year 2024, GCCs generated approximately USD 64.6 billion in export revenue: a 40 per cent increase from USD 46 billion in FY23. The report added that about 20,000 global leadership roles are projected to be based in India by 2030. The growth of GCCs in India is most prominent in Tier-1 cities, with Bengaluru leading the pack with 487 centers (29 per cent of India's total). Hyderabad follows closely with 273 GCCs (16 per cent), while the NCR region hosts 272 centers. Mumbai, Pune, and Chennai also contribute significantly, accounting for 12 per cent, 11 per cent, and 10 per cent of the national total, respectively. This is a reflection of India's effort to establish itself as the world leader in housing Global Capability Centers (GCCs), with currently nearly 1,700 centers, over 53 per cent of the total 3,200 globally. GCCs have evolved from cost-saving units to strategic hubs driving innovation, operational efficiency, and business growth. GCCs are strategically located in countries like India, offering access to diverse talent pools, robust ecosystems, and favorable business environments. The report highlights that the finance roles in GCCs have shifted from doing basic transaction-focused accounting to creating value for the organisation through process improvement and cost transformation initiatives. Opportunities abound in business partnering, procurement, reporting, planning, and analysis. While entry-level roles focus on data analytics, financial planning and analysis (FP&A), and compliance management, mid-level roles are shifting to process improvements and driving transformation, the report added.
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Business Standard
2 days ago
- Business
- Business Standard
Lodha Developers share price rises 4% post Q1; is it right time to buy?
Lodha Developers shares advanced 4.4 per cent in trade on Tuesday (July 29, 2025), logging an intra-day high at ₹1,255.2 per share on BSE. Around 10:09 AM, Lodha Developers share price was up 3.55 per cent at ₹1,244 per share. In comparison, Sensex was up 0.06 per cent at 80,939.32. On Monday, the stock fell over 6 per cent after the company posted its Q1 results on Saturday, July 26, 2025. Why were Lodha Developers shares buzzing in trade? Lodha Developers, formerly known as Macrotech Developers Limited, stock gained momentum after the earnings call held on Monday, after market hours. This call was to discuss the Q1 earnings released on Saturday, July 26, 2025. In Q1FY26, Lodha Developers' profit (attributable to owners of the company) grew 42 per cent year-on-year (Y-o-Y), to ₹674.7 crore. Its revenue (from operations) increased by 22.66 per cent Y-o-Y, to ₹3,491.7 crore. The company's adjusted earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter stood at ₹1,200 crore, up 25 per cent YoY. Meanwhile, its Ebitda margin stood at 34.4 per cent. The overall urban slowdown has not impacted residential demand as is evident from a strong bookings run-rate of ₹270 crore in a non-launch week – a key metric the company tracks to measure the strength of demand. The run-rate is up meaningfully compared to last year and will soon reach ₹300 crore by end of FY26. While there is some slowdown in IT, the Global Capability Centres (GCCs) employment is only growing. The company expects 55 per cent of annual bookings guidance to be achieved in H2, given the strong launch pipeline planned for the last 2 quarters. Brokerages' view on Lodha Developers Nomura maintained 'Buy' with a target of ₹1,450 per share, as the brokerage believes the company can make up for the slower growth in Q1FY26 in the rest of the year, led by sales from its large inventory and new project launches. The brokerage is upbeat on Lodha, on the back of its robust business model that drives sales through deep penetration within micro markets, strong collections aiding operating cash flow (OCF) generation at a 15 per cent compound annual growth rate (CAGR), which should enable Lodha exceed its business development goals for future growth, while maintaining a low net debt/equity position. ICICI Securities has upgraded its rating to 'Add' from 'Hold' with an unchanged target of ₹1,284, based on a 40 per cent premium to FY25 net asset value (NAV) of ₹917. The brokerage finds Lodha Developers' stock attractive as it has corrected 8 per cent over the last three months. JM Financial Institutional Securities maintained 'Buy' with a target of ₹ 1,480 per share. JM Financial sees Lodha well placed to withstand temporary headwinds given its well-diversified and growing presence in three of the top five markets in India.
Mint
21-07-2025
- Business
- Mint
Indiqube Spaces IPO to open on Wednesday: Here are 10 key things to know from the RHP
Indiqube Spaces IPO: The initial public offering (IPO) of Indiqube Spaces is set to open for subscription later this week. The company is already enjoying a strong grey market premium (GMP), signaling a strong buzz around the issue. Indiqube Spaces IPO is scheduled to run from July 23 to July 25, with the tentative listing date fixed as Wednesday, July 30. The issue is priced in the range of ₹ 225 to ₹ 237 per share, with investors allowed to bid in lots of 63 shares. Ahead of the issue opening, here are ten key things that investors should know from the company's red herring prospectus. Indiqube Spaces IPO is a mix of fresh issue of ₹ 650 crore and an offer for sale of ₹ 50 crore. Therefore, the total issue size is ₹ 700 crore. Rishi Das and Meghna Agarwal are the promoter selling shareholders in Indiqube Spaces IPO. Each promoter is looking to offload stake worth ₹ 25 crore. The company plans to use the funds raised from the IPO to fund capex towards establishment of new centres, repayment of certain borrowings availed by the company and for general corporate purposes. While the company's revenue has seen a steady growth to ₹ 1059 crore in FY25 from ₹ 831 crore in FY24 and ₹ 580 crore in FY23, it remains a loss-making entity. In FY25, the company posted a loss of ₹ 140 crore while the figure stood at ₹ 341.5 crore in FY24. In the preceding fiscal, the loss was at ₹ 198 crore. Awfis Space Solutions is the only listed peer of Indiqube Spaces, according to the company's RHP. Unlike Indiqube, Awfis swung to profit in the recently concluded fiscal 2024-25 (FY25). Indiqube Spaces offers workplace solutions, dedicated to transforming the traditional office experience. Its diverse solutions range from providing large corporate offices (hubs) to small branch offices (spokes) for enterprises and transforming the workplace experience of their employees by combining interiors, amenities and a host of value-added services. India is one of the largest flexible workspaces markets in APAC with a total stock of over 72 Mn sq. ft. in Tier 1 cities as of H1 CY2024. Favorable demographics, availability of quality talent pool and relative competitive cost for talent may position India as a preferred destination for setting up bases for MNCs, and corporates for their Global Capability Centres (GCCs). These companies may also consider evaluating flexible workspaces to expand their operations in India which may also help in enabling them to outsource some elements of their value chain including but not limited to office experience and running cost-efficient operations. This may also support the existing demand for flexible workspace solutions. Several risks of picking Indiqube Spaces IPO are: The business is sensitive to real estate market fluctuations and we have witnessed a decline in our occupancy rate from 83.68% as of March 31, 2023 to 80.21% as of March 31, 2024. The company does not own the properties where its centers are located. Any defect in the title and ownership of such properties may result in centers being shut down, result in relocation costs and termination of client agreements, which may adversely impact business. In the Indiqube Spaces IPO, 75% of the offer is reserved for QIBs, 15% is allocated for NIIs and the remaining 10% for retail investors. ICICI Securities and JM Financial are the book running lead managers while MUFG G Intime India Private Limited is the registrar to the issue. Indiqube Spaces IPO GMP today is ₹ 40. This means, in the grey market, the IPO shares are available at a ₹ 40 premium. At this GMP and the current issue price, Indiqube Spaces shares could list at ₹ 277, a premium of 17% over the upper end of the IPO price of ₹ 237.
Time of India
20-07-2025
- Business
- Time of India
Boom in office space, a boon for local economy
Chennai is witnessing a surge in office space absorption. Led by an uptick in demand from Global Capability Centres (GCCs), BFSI companies, and third-party IT services leasing, the city saw the second-largest absorption among metros, next only to Bengaluru in the past six months (H1 CY2025). The development is indicative of the emergence of new job opportunities and the larger impact on the local economy, pushing housing sales, creation of auxiliary jobs, and springing up of new hospitality ventures in the corporate corridors, according to experts. A report by real estate consultant Colliers India says the city recorded 5.5 mn sq ft of leasing during Jan-June period of the current year, soaring by 57% over the corresponding months last year at 3.5 mn sq ft (H1 CY2024). It is the second largest absorption on par with the National Capital Region (NCR) and higher than Hyderabad and Mumbai. "Demand for Grade A office space in the city has been on the rise in the last few years," says Vimal Nadar, national director and head of research, Colliers India. Ramkumar Ramamoorthy, former CMD, Cognizant India, said the development will have ripple effects. "Each high-value job created by new-age companies, in tech and related services, creates between 3 and 7 downstream jobs, enhances per capita income, and drives higher tax collection. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dementia Has Been Linked To a Common Habit. Do You Do It? Memory Health Learn More Undo Growth in high-value jobs drives higher levels of consumption, local entrepreneurship and economic growth." You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai Ramamoorthy earlier oversaw an employee base spread over 24 mn sq ft across India. He says Chennai is attracting Fortune 500 and Global 2,000 companies including the likes of Mizuho, Bank of America, Workday, AstraZeneca, Hitachi and Shell for whom innovation at scale is important. "In addition to smaller floor space absorption, we see individual firms locking down upwards of a million sq ft of office space in newer technology parks," he said. Rajaram Venkataraman, convener & head, FICCI Tamil Nadu Technology Panel and Strategic Advisor - Kritilabs says, a significant number of jobs created through the 5.5 mn sq ft leasing will be in GCC operations and IT services. "Each IT/ITES job generates 4.5-6.5 auxiliary jobs across sectors including facility management and security, food services and catering, transportation and logistics. Hospitality will see an expansion with 3-4 star hotels expected in key corridors. Commercial real estate comprising retail and F&B space development will see an uptick," he added. The city's IT corridor, OMR and its offshoot, Radial Road (Pallavaram–Thoraipakkam Road) mirrored this growth with expanding new IT parks attracting residential, commercial and hospitality developments. The trickle from OMR and Radial Road will spread to emerging office space destinations such as Tambaram-Vandalur, Porur-Poonamallee, Ambattur-Avadi and Madhavaram belt in north Chennai, where the TN Tech City has been proposed. Knight Frank India says 5.1 million sq ft of office space translates to around 34,000 seats considering 150 sq ft per seat, which is optimal for most tech, professional, and hybrid workplaces. In the past five years (between 2020 and H1 2025), the city added more than 19.2 mn sq ft of office space and total office stock currently stood at 92 mn sq ft. Joseph Thilak, national director, occupier strategy and solutions (Hyderabad & Chennai), Knight Frank India said, "There is a correlation between office absorption and residential housing demand, in markets like Chennai with strong IT/ITES and GCC presence. As firms expand, job creation drives migration and housing demand—in areas close to employment hubs. While a specific job-to-housing unit ratio varies by income segment and city, in Chennai, the continued strength in office absorption is mirrored by steady growth in residential sales, particularly in south and west zones, where most commercial activity is concentrated. " Property consultant Anarock says Chennai was the only city with a significant quarter-on-quarter (QoQ) increase in housing unit sales by 40%. It had a sale of 5,660 units in Q2 (April-June) period against 4,050 units Q1 (Jan-March) even as most of the other metros, except for NCR, either saw a QoQ dip or marginal rise in their respective home sales. With the city's office space stock is all set to reach 100 mn sq ft in the next few years, urban development experts are stressing on planned infrastructure growth and ensuring quality of living. Former professor of urban engineering at Anna University K P Subramanian says, the Chennai Metropolitan Development Authority (CMDA) may have to be proactive in this regard. "Sensing development trends, CMDA may assess demand for offices at potential locations, prepare integrated projects with a holistic approach, and execute them."
Khaleej Times
16-07-2025
- Business
- Khaleej Times
India eyes $10t economy as GCCs drive new growth wave
India is poised to become a $10 trillion economy within the next decade, driven by transformative shifts across technology, talent, and global integration. A key pillar of this growth trajectory is the rapid rise of Global Capability Centres (GCCs), which are set to contribute as much as $500 billion in gross value added to the Indian economy while creating jobs for up to 25 million people. Speaking at the Confederation of Indian Industry (CII) GCC Summit, Gunjan Samtani, co-chairman of Goldman Sachs India, highlighted the country's emerging centrality to global economic progress. 'Sixty-five per cent of the global growth between now and 2035 will come from emerging markets, and India stands out as a bright spot,' he said. 'India will become the fastest-growing economy globally, reaching a $10 trillion milestone in the next decade.' Samtani noted that India's demographic dividend, a strong pool of STEM graduates, and growing expertise in artificial intelligence (AI) will be instrumental in unlocking this potential. 'As the global tech spending crosses $4.92 trillion by 2025, India's AI Mission will play a vital role in placing the country at the heart of the fourth industrial revolution,' he added. The fastest-growing major global economy is on track to surpass Germany by 2028 to become the world's third-largest economy, according to recent forecasts by the International Monetary Fund (IMF). With a targeted compound annual nominal GDP growth rate of 9.0 per cent from 2025 to 2047, India aims to add nearly $1 trillion to its GDP every 12 to 18 months — a feat few economies have ever managed. Finance Minister Nirmala Sitharaman, also addressing the CII Summit, said that India's GCC ecosystem is undergoing a fundamental transformation. 'From back-office support functions, GCCs in India are now evolving into strategic centres of excellence — driving research, innovation, and leadership,' she said. 'GCCs today contribute around $68 billion or 1.6 per cent of GDP in gross value added. By 2030, this contribution could rise to between $100 billion and $150 billion.' The growth momentum has been nothing short of exponential. India added 1,000 GCCs between 2015 and 2024, with one new centre being set up nearly every week in 2024 alone. The current workforce of 2.16 million employed by these centres is projected to grow to 2.80 million by 2030. Sitharaman called these projections 'conservative' and underscored the importance of retaining this competitive edge. 'India cannot afford to lose the GCC advantage,' she said. What gives India a unique edge is its deep reservoir of technical talent. As per official data, the country now accounts for 32 per cent of the global GCC talent pool, 28 per cent of the world's STEM workforce, and 23 per cent of global software engineering talent. This has made India indispensable for global enterprises looking to expand their digital capabilities, particularly in areas such as AI, cybersecurity, cloud infrastructure, and enterprise software development. India's commitment to ease of doing business is also propelling this momentum. The Finance Minister outlined several pro-business reforms, including efforts to reduce approval timelines, enhance tax certainty (notably around Advance Pricing Agreements), and foster cross-ministerial coordination. She also encouraged investments in Tier 2 and Tier 3 cities, citing GIFT City as a model for integrated infrastructure and regulatory facilitation. 'India must not lose this opportunity,' Sitharaman concluded, reiterating the government's commitment to supporting the next generation of GCC-led economic growth. According to consultancy firm McKinsey & Company, India's GCC landscape already includes more than 1,580 centres operated by global multinationals across sectors such as banking, healthcare, technology, and retail. These centres have matured from transactional hubs into strategic units overseeing innovation, customer experience, analytics, and emerging technologies. Analysts agree that as supply chain diversification, digital transformation, and the search for skilled talent continue to dominate boardroom priorities worldwide, India is exceptionally well-placed. 'What we are seeing is not just economic growth, but a structural shift in how India is being integrated into the world economy,' said Ankur Pahwa, partner at EY India.
