India's Leap Towards Sustainable & Innovative Workspace Design
- Industry News
- March 13, 2024

Awfis Space Solutions is targeting 30% revenue growth in FY26 to cross ₹1,600 crore, adding 40,000 seats across 70 new centres. With 232 live locations, the company plans to boost its non-core revenue—design, IT, furniture, and cafeteria services—to 40% over five years, maintaining strong profitability and near-zero debt.
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According to the IIM-B and CRE Matrix “Commercial Property Rental Index” report, Delhi recorded a sharp 16.4% rise in premium office rents. In comparison, Mumbai maintained its market strength with 3.6% quarterly growth. Gurugram, Navi Mumbai, and Chennai’s northern suburbs also saw strong gains, signalling expanding demand beyond traditional business districts.
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India’s office market is defying regional trends, with Bengaluru, Delhi-NCR, and Mumbai expected to hit a record 50 million sq. ft in office leasing in 2025, according to Knight Frank. GCCs and IT firms are driving demand as rents rise 4.3% YoY despite new supply and global headwinds.
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India is projected to outpace China in Grade-A office space growth by 2026, with Bengaluru, Hyderabad, and Delhi-NCR set to dominate the region. Backed by GCC expansion, investor interest, and evolving infrastructure, Indian cities are emerging as global magnets for multinational firms seeking large-format, future-ready workspaces.
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India’s GCC market surged in FY25, with leasing rising 24% to 31.8 million sq ft. Larger deals dominated, as Fortune 500 firms led the charge. Government initiatives now aim to push GCC expansion into Tier 2 cities, aligning policy, talent, and infrastructure to fuel the next phase of growth.
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Once known for its backwaters, Kochi is now India’s newest hub for flexible workspaces. With 17 million sq. ft. of office absorption, affordable rentals, and global connectivity, the city is attracting startups and enterprises alike. Areas like Kakkanad and Edappally are transforming into vibrant coworking and managed office clusters.
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