India’s office market started 2026 on a record-breaking note, with Global Capability Centres (GCCs) driving historic leasing of 9.1 million square feet (sq ft) in the first quarter (January–March), according to the ‘India Office Figures Q1 2026’ report by leading international property consultancy CBRE South Asia Pvt Ltd. GCCs, also known as captive centres, are in-house offshore units set up by multinational corporations to handle high-value functions such as information technology (IT), research and development (R&D), analytics, digital engineering, and innovation.

The strong performance pushed overall office absorption to approximately 20.7 million sq ft in Q1 2026 — the highest ever for any first quarter — marking a 5 per cent year-on-year rise from 19.7 million sq ft in Q1 2025. The numbers underline the sector’s resilience amid steady occupier demand.