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

Figma has opened an office in Bengaluru and will begin hiring in India, its second-largest active user market. The AI-powered design and product platform, which earns about half its revenue outside the US, expands its global footprint and deepens local ties. Customers in India already include Airtel, CARS24, Groww, Myntra, Swiggy, TCS, and Zomato.
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Tata Consultancy Services (TCS) has signed a major ₹2,130 crore agreement for a 15-year lease of 1.4 million square feet in Bengaluru’s Electronic City, marking one of the city’s largest office deals in recent years. This move reinforces the IT giant’s expansion ambitions, boosts Bengaluru’s reputation as an IT powerhouse, and provides clear signals about the direction of India’s commercial real estate market.
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Robust leasing activity in Bengaluru’s Grade A office market has driven vacancy rates to their lowest levels in over a decade—falling to just 9.8%. ICRA projects further tightening ahead, with vacancy expected to ease to 9.0–9.5% by FY2026—a clear sign of continued occupier demand and market resilience.
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