Pune Surges to Second-Largest GCC Market in India: Cushman & Wakefield
Pune, Feb 12: Pune has emerged as India’s second-largest market for Global Capability Centres (GCCs) in 2025, marking a landmark year for the city’s office real estate market. The strong performance underscores Pune’s growing strategic relevance within India’s GCC landscape, supported by scale, sector depth, and a maturing occupier ecosystem.
According to Cushman & Wakefield’s recent office market data, GCC gross leasing volume (GLV) for Pune reached 5.43 MSF (million square feet), up from 2.71 MSF in 2024, marking a 100% year-on-year increase. With this growth, Pune climbed two places from 2024, overtaking Hyderabad and Chennai, to secure the second spot among India’s top eight cities, while Bengaluru retained the first position.
This performance comes amid a strong year for GCCs nationally. Across India, GCCs recorded 29.3 MSF of office leasing, accounting for 33% of total GLV. Within this context, Pune stood out for its concentration of demand, with GCCs contributing 55% of the city’s total office leasing (~10 MSF).
From a sectoral perspective, Engineering & Manufacturing led GCC demand in Pune, accounting for 41% of the city’s total GCC leasing, followed by BFSI at 29% and IT-BPM at 18%. Other sectors included Healthcare & Pharmaceuticals (5%), Telecom & Media (3%), Professional Services (1%), and Others (4%). This mix reflects Pune’s ability to support large-scale engineering and manufacturing mandates alongside financial services and technology-led operations, creating a balanced and resilient GCC ecosystem. Deal sizes averaged approximately 78,784 sq. ft., underscoring the scale and growing maturity of Pune’s GCC ecosystem.
Engineering & Manufacturing accounted for the largest share at 41%, followed by BFSI at 29% and IT-BPM at 18%. Healthcare & Pharmaceuticals contributed 5%, while Telecom & Media made up 3% of the total share. The ‘Others’ category accounted for 4%, and Professional Services represented 1%, bringing the total distribution to 100%.
Moinuddin Patel, Managing Director- Pune, Cushman & Wakefield, said,
“Pune’s rise as the second-largest GCC market for 2025 reflects its growing strategic importance within India’s office landscape. The city offers a strong combination of modern office infrastructure, a well-established IT–ITES base, and a mature engineering and manufacturing ecosystem. This is complemented by a deep talent pool from leading technical institutions, cost advantages, and improving connectivity. Proximity to Mumbai and improved access through the upcoming Navi Mumbai International Airport further enhance Pune’s appeal for global enterprises. Importantly, Grade A office supply in the city expanded significantly in 2025, providing the capacity required to support this next phase of GCC growth.”
