India Office Figures Q2 2026

Building on three consecutive years of record absorption, India's office sector maintained its steady momentum in April-June (Q2) 2026. Despite a cautious global backdrop shaped by the Middle East crisis, evolving AI-driven hiring trends, and cross-border talent mobility constraints, the sector’s fundamentals stayed resilient. This was backed by consistent investment inflows and continued portfolio expansion by both global and domestic enterprises. The January-June (H1) period of 2026 marked the highest half-yearly absorption on record, while strong supply additions took new completions to a record high for any H1 period.

Looking ahead, demand for quality office assets is expected to hold steady, backed by healthy supply pipelines across tier-I cities. Occupiers are also likely to continue pursuing expansion into tier-II cities, unlocking new business opportunities while building long-term scalability.

Below are the key trends observed during the quarter:

• India's office sector recorded its highest-ever quarterly absorption in Q2 2026, reaching 24.6 million sq. ft. — up 18% q-o-q and 14% y-o-y. Bengaluru, Pune, and Delhi-NCR together accounted for 58% of this activity. Strong quarterly momentum propelled H1 2026 absorption to a record 45.5 million sq. ft., up ~10% y-o-y.
• New supply touched an all-time quarterly high of 21 million sq. ft. in Q2 2026, rising 91% q-o-q and 18% y-o-y. In H1 2026, new completions totalled 32 million sq. ft., up 14% y-o-y, with Bengaluru, Pune, and Ahmedabad leading supply additions across both the quarterly and half-yearly periods.
• Sustainability continued to gain prominence across the office market. Green-certified assets accounted for 76% of completions during the quarter, while 73% of leasing activity was concentrated in green-certified buildings.
• Flexible space operators led leasing activity during the quarter with a 27% share, followed by technology companies at 21% and BFSI firms at 13%.
• Domestic companies continued to lead space take-up, commanding a 46% share of quarterly leasing and ~45% of total H1 activity. American firms accounted for 30% of quarterly leasing, while EMEA-based occupiers' share rose to 16%.
• GCCs remained the market's primary demand catalyst, setting a new benchmark in Q2 2026 by leasing ~10.3 million sq. ft. In H1 2026, GCCs absorbed ~19.6 million sq. ft., representing 43% of total half-yearly leasing and a 17% Y-o-Y increase. The Technology sector led quarterly GCC activity, closely followed by research, consulting, and analytics.
• Fortune 500 companies accounted for ~28% of the total office space absorbed during the quarter.

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