Latest news with #Vestian
Deccan Herald
5 days ago
- Business
- Deccan Herald
GCCs grab 65% of office space leased in Bengaluru
The GCCs have absorbed 12.43 million square feet of office space leased in FY2025, which is about 39% of 31.8 million square feet of space occupied by them in the country, according to Vestian, a global commercial real estate consultancy.
Time of India
25-07-2025
- Business
- Time of India
Office space leasing in Delhi-NCR more than double in Apr-Jun to 2.62 mn sq ft: Vestian
Synopsis Office space leasing in Delhi-NCR witnessed a significant surge during April-June. Demand for workspace in Gurugram and Noida from corporates drove this increase. Pan-India leasing also rose, particularly in Bengaluru, Hyderabad, and Chennai. Vestian anticipates continued growth in office space utilization. Total leasing across major Indian cities reached 36.75 million sq ft in the first half of 2025.
Time of India
21-07-2025
- Business
- Time of India
India to have more than 2,100 global capability centres by March 2028: Report
India will surpass 2,100 global capability centres (GCC) by financial year 2028, growing at a compound annual growth rate (CAGR) of 8%, with an estimated 150 new centres added annually, according to the recent report by report also reveals that, the growth of GCCs in India is most prominent in tier-I cities, with Bengaluru leading the pack with 487 centres (29% of India's total). Hyderabad follows closely with 273 GCCs (16%), while the NCR region hosts 272 centres. Mumbai, Pune, and Chennai also contribute significantly, accounting for 12%, 11%, and 10% of the national total, respectively. This is a reflection of India's effort to establish itself as the world leader in housing Global Capability centres (GCCs), with currently having nearly 1,700 centres, over 53% of the total 3,200 globally. While these urban centres continue to dominate, there's a notable shift toward tier-II cities. This transition is being supported by the Union Budget 2025, which proposes a national framework to encourage the expansion of GCCs in emerging markets. Sector-wise, the IT-ITeS industry holds the biggest share of GCCs at 49%, followed by the banking, financial services, and insurance (BFSI) sector at 17%. Other contributors include healthcare, engineering, consulting, and telecom, collectively forming 19% of the market. "India's leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment," said Shrinivas Rao, CEO, Vestian. "However, selecting the right location remains critical to the long-term success of any GCC. Vestian's GCC Market Entry Index serves as a strategic tool to support companies in identifying optimal locations that align with their business objectives," he added. Global capability centres (GCCs) are offshore units established by multinational corporations to centralise and enhance various business functions, leveraging global talent and technology. These centres 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 favourable business environments.
Mint
21-07-2025
- Business
- Mint
Around 55 pc of total GCCs in India in Bengaluru, Hyderabad, Chennai: Vestian
New Delhi, Jul 21 (PTI) Bengaluru, Hyderabad, and Chennai together have 922 global capability centres (GCCs), around 55 per cent of the total such facilities in India, according to Vestian. In a statement on Monday, US-based real estate consultant Vestian stated that India houses nearly 1,700 GCCs spread across Tier-1 and Tier-2 cities, accounting for around 53 per cent of the about 3,200 GCCs worldwide. "India's leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment," Vestian CEO Shrinivas Rao said. However, he noted that selecting the right location remains critical to the long-term success of any GCC. According to Vestian, India's top six cities -- Bengaluru, Hyderabad, Chennai, Delhi-NCR, Mumbai, and Pune -- account for 94 per cent of the total number of GCCs in the country. The rest are spread across various states. The consultant projected that the total number of GCCs in India could exceed 2,100 by the end of the 2027-28 fiscal year. On an average, it said around 150 new GCCs are expected to be established annually. In India, nearly 50 per cent of the total GCCS are of IT-ITeS sector, followed by the BFSI (banking, financial services and insurance) sector that holds 17 per cent share. On city-wise analysis, Vestian said there are 487 GCCs in Bengaluru, accounting for 29 per cent of the total number of GCCs in the country. Hyderabad has 273 GCCs, Delhi-NCR houses 272 GCCs, Mumbai 207 GCCs, Pune 178 GCCs, and Chennai 162 GCCs. There are 922 GCCs in the three southern cities -- Bengaluru, Hyderabad and Chennai -- the data showed. Commenting on the report, Gurugram-based property consulting firm InfraMantra Founder Shiwang Suraj said the Delhi-NCR accounts for 16 per cent of the total GCCs in the country. "The accelerated infrastructure development, ease of doing business and skilled manpower have attracted these companies to Delhi-NCR," he added.
Time of India
21-07-2025
- Business
- Time of India
India to have more than 2,100 global capability centres by March 2028: Report
Academy Empower your mind, elevate your skills India will surpass 2,100 global capability centres (GCC) by financial year 2028, growing at a compound annual growth rate (CAGR) of 8%, with an estimated 150 new centres added annually, according to the recent report by report also reveals that, the growth of GCCs in India is most prominent in tier-I cities, with Bengaluru leading the pack with 487 centres (29% of India's total). Hyderabad follows closely with 273 GCCs (16%), while the NCR region hosts 272 centres. Mumbai, Pune, and Chennai also contribute significantly, accounting for 12%, 11%, and 10% of the national total, is a reflection of India's effort to establish itself as the world leader in housing Global Capability centres (GCCs), with currently having nearly 1,700 centres, over 53% of the total 3,200 these urban centres continue to dominate, there's a notable shift toward tier-II cities. This transition is being supported by the Union Budget 2025, which proposes a national framework to encourage the expansion of GCCs in emerging the IT-ITeS industry holds the biggest share of GCCs at 49%, followed by the banking, financial services, and insurance (BFSI) sector at 17%. Other contributors include healthcare, engineering, consulting, and telecom, collectively forming 19% of the market."India's leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment," said Shrinivas Rao, CEO, Vestian."However, selecting the right location remains critical to the long-term success of any GCC. Vestian's GCC Market Entry Index serves as a strategic tool to support companies in identifying optimal locations that align with their business objectives," he capability centres (GCCs) are offshore units established by multinational corporations to centralise and enhance various business functions, leveraging global talent and technology. These centres 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 favourable business environments.
