India Office Figures Q2 2025

India’s office leasing activity demonstrated robust growth in Q2 2025 (April to June), driven by continued expansionary initiatives from domestic corporates. This momentum resulted in the highest-ever absorption recorded for any January–June (H1) period. Concurrently, the quarter saw a substantial surge in new supply completion, contributing to a record H1 peak.
Below are the key trends observed during the quarter:

• Office space take-up reached 20.3 million sq. ft. in Q2 2025, recording an 8% Q-o-Q increase. Bengaluru, followed by Mumbai, Pune, and Chennai, collectively drove this growth, accounting for a share of 73%. Consequently, the space absorption in H1 2025 propelled to a record 39 million sq. ft., primarily led by Bengaluru, Mumbai, and Delhi-NCR.
• New supply rose significantly, increasing by 63% Q-o-Q and 27% Y-o-Y to reach 17.1 million sq. ft. in Q2 2025. Pune, Bengaluru, and Hyderabad led the way, accounting for a combined 73% share of the quarterly completions. In H1 2025, total new supply stood at 27.7 million sq. ft., marking a 19% Y-o-Y growth. This strong supply pipeline is expected to continue into H2 2025, further supporting transaction momentum and reinforcing market activity.
• Reflecting a strong market commitment to sustainability by both developers and occupiers, 93% of the newly completed space during Q2 2025 was green-certified, and over three-fourths of the leasing took place in certified assets.
• Technology companies led the office space take-up during the quarter with a share of 26%, followed by banking, financial services, and insurance (BFSI) firms at 21% and flexible space operators at 19%. These three sectors collectively drove H1 2025 leasing, with a share of approximately 65%.
• Domestic companies were the primary drivers of office leasing activity, accounting for a 52% share in Q2 2025, with flexible space operators and technology firms powering this growth.
• In Q2 2025, global capability centres (GCCs) drove 36% of total office space absorption, with BFSI firms contributing a notable 44% of the total leasing activity by GCCs.  

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