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Time of India
7 days ago
- Business
- Time of India
US firms contribute 33% of total office demand in India's top 7 cities in 2022-24: JLL
NEW DELHI: US companies have rented 64.5 million square feet of office space during 2022-24 across India's seven major cities, contributing over one-third of the total leasing of workspaces, according to JLL India. Real estate consultant JLL India data showed that the total gross leasing of office space during 2022-24 calendar years stood at 190 million sq ft across seven major cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune. Out of this, US firms have taken 64.5 million sq ft office spaces on rent, mainly to set up their Global Capability Centers (GCCs). Nearly 70 pc or 64.5 million square feet office spaces were rented for setting up of GCCs. "India's combination of skilled talent at scale, supportive ecosystem, cost advantages, and growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations looking to establish and expand their global capabilities," said. Rahul Arora, Head - Office Leasing & Retail Services, Senior Managing Director (Karnataka, Kerala), India, JLL. GCC-led requirements constitute 70 per cent of all space demand from US occupiers, signaling continued long-term investment and confidence in India as a key R&D and innovation hub, he added. The consultant said that IT city Bengaluru is the most preferred location for US corporates. US-based technologies and BFSI (Banking, Financial Services and Insurance) companies are major drivers of office demand in top Indian cities.>
Time of India
14-06-2025
- Business
- Time of India
GCC boom fuels US demand, US firms drive one-third of office demand in top Indian cities; Bengaluru leads office space race among top 7 cities
US-based companies have emerged as the single-largest contributors to India's office space demand in recent years, accounting for over one-third of gross leasing across the top seven cities between 2022 and 2024, according to data from real estate consultancy JLL India. During the three-year period, total office leasing across Delhi-NCR, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad and Pune stood at 190 million square feet. Of this, US firms alone leased 64.5 million sq ft, with nearly 70% of that space taken to establish or expand Global Capability Centres (GCCs), JLL said. 'India's combination of skilled talent at scale, supportive ecosystem, cost advantages and a growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations looking to establish and expand their global capabilities,' said Rahul Arora, Head – Office Leasing & Retail Services and Senior Managing Director (Karnataka, Kerala) at JLL India, PTI reported. The data underlines sustained interest from US-based multinationals in India's technology hubs, led by Bengaluru, which continues to be the top choice for setting up GCCs. JLL noted that GCC-led requirements formed around 70% of all space demand from US occupiers, signalling strong long-term investment and positioning India as a key hub for R&D, technology and innovation. Technology and BFSI (Banking, Financial Services and Insurance) companies from the US are driving much of this office demand, according to JLL, reflecting a broader global shift towards centralising high-end service operations in India. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
09-06-2025
- Business
- Time of India
UP eyes global biz, set to host 1st GCC conclave
Lucknow: A month after promulgating the global capability centres policy, UP is set to host the first GCC conclave on Tuesday, officials said, adding that GCCs are centres through which a company supports its offshore operations using technology and data. "The event — to be convened by chief secretary Manoj Kumar Singh — aims to position UP as a premier investment destination and to showcase unmatched investment opportunities in the development of GCCs," an official spokesperson said on Monday. Being hosted by Invest UP, the state's investment promotion and facilitation agency, the effort will bring together industry leaders, industry associations, policymakers and other key stakeholders to deliberate on emerging opportunities, industry requirements, infrastructure support, and the strategic vision for GCC-led growth. Earlier in May, the state cabinet approved a policy under which the govt will provide subsidies and benefits to companies wishing to establish GCCs in UP. "The policy aims to position UP as a preferred destination for GCC investments due to its strategic advantages like a vast pool of skilled youth, digital infrastructure, rapidly improving physical connectivity and competitive cost of operations," Alok Kumar, principal secretary, industries and infrastructure development, UP had said at that time. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo The govt is also offering a comprehensive and targeted support framework designed to attract global enterprises across sectors such as IT and ITeS, healthcare, automotive, telecom and next-generation technologies. Industry and govt estimates are that with the implementation of the policy, two lakh jobs are expected to be generated in sectors like IT, analytics, HR, customer support and finance. It will also pave the way for more international investment in the state, which will help in the development of both urban and rural areas. Officials said that India is home to around 1,700 functional GCCs at the moment, and their numbers are expected to grow. A few months ago, Microsoft laid the foundation stone for a 10,000-seater development centre in Noida, while MAQ set up a 3,000-seater engineering development centre. The govt is now willing to attract new players in cities beyond NCR, such as Lucknow, Varanasi, Kanpur and Prayagraj.
Entrepreneur
06-06-2025
- Business
- Entrepreneur
IT Services Sector Witness Lack of Urgency to Spend by Clients: InCred Equities
Clients continue to seek 'doing more for less' to optimize legacy projects to fund small-ticket AI-led ones You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Indian IT services companies are witnessing a lack of urgency to spend by clients as they remain cautious in an uncertain business environment, and are still hesitant to take long-term decisions, according to a report from InCred Equities. "But the reconciliatory stance, especially on reciprocal tariffs, has helped de-escalate the situation. Deal conversations are underway but advisory-led proposals (RFPs) with long-term road-maps have complex constructs and are elongating the decision timeframe. Pipeline opportunity could be at its peak but the pertinent question for investors is the quantum of conversion book and rate," the report said. However, enterprises are using the current uncertainty to right-size their organization/spending, given the inflationary pressure. The global conflicts have impacted client visits to Centres of Excellence (CoEs) and has elongated deal closure. The India-Pakistan conflict impacted travel plans of clients. "We heard instances of less client meetings in the month of May 2025 as travel advisory led to cancellation or postponement of visits to CoEs in India. This, in turn, added a new vector to decision-making delay, especially for global capability centre or GCC-led deals," the report said. AI-led productivity is the big elephant in the room. According to InCred Equities, the deflationary impact of artificial intelligence (AI) on revenue, led by productivity pass-back, is unlikely a near-term phenomenon. "We have been highlighting that clients continue to seek 'doing more for less' to optimize legacy projects to fund small-ticket AI-led ones. This, in turn, is driving vendor consolidation, driving the competitive intensity higher, creating staffing challenges, and pressurizing the margin profile of deals. Hence, building margin expansion for FY26F could be aggressive." As economic downturns change technology adoption and consumption patterns, this cycle is likely to favour mid-sized IT companies. The report cites similar views from CEO of Zensar Technologies who believes tier-II have the opportunity to capture incremental mind and market share as the current technology (AI) change has made the field level-playing. Infosys Chairman Nandan Nilekani alluded to the uncertain business environment in its latest annual report. "As we contemplate the developments of the last few months, we know we are in an era of uncertainty that we have never seen before. Multiple trends are colliding and leading us to reexamine the fundamentals of our businesses," he said. N. Chandrasekaran, Chairman, Tata Consultancy Services (TCS) also agreed that financial year 2025 was a year of profound global disruption. "Widespread geopolitical conflicts, military escalations, and uncertain trade dynamics severely impacted global supply chains. Over 60 nations went to the polls, stalling policy continuity and reform agendas across several key markets. As a result, businesses worldwide faced significant shocks— ranging from falling production volumes and rising costs to suboptimal asset utilization, impacting profitability and cash flows," he said in the company's latest annual report. The InCred Equities report indicated of a potential budget flush in 2H FY26F, given the current procrastination in spending, delay in decision-making and/or ramp-ups, and tepid spending pattern in 1H CY25. "That said, it may not be a true reflection of structural recovery as AI-led deflationary pressure could outweigh the near-term tailwinds, if any," the report said. The demand trend across banking, healthcare, energy, mining, and insurance verticals appear to be better than manufacturing, hi-tech, and retail. "That said, there appears to be no real urgency to spend, even within the segments having a better demand trend."
Daily Tribune
22-05-2025
- Business
- Daily Tribune
Beyon Cyber tops list for third year
TDT | Manama Beyon Cyber has achieved a rare double honour from Deloitte, emerging as the only company in the region to win both the 'Fastest-Growing Cybersecurity Firm' title and the new 'Kiyadat' award for high-performing GCC-led companies. The Bahraini firm, part of the Beyon Group, secured its place in the 2025 Middle East & Cyprus Technology Fast 50 for the third consecutive year. It also became the sole recipient this year of both recognitions, highlighting its sustained growth and leadership in one of the region's most trust-sensitive sectors. Bahraini-led success Beyon Cyber is 100 percent Bahraini-managed and stands as the largest private employer of Bahraini nationals in the cybersecurity field. Its inclusion in the new 'Kiyadat' category underlines its alignment with national talent strategies and regional digital ambitions. 'Winning this recognition three years in a row confirms that Beyon Cyber is among the fastest-growing technology companies in the region,' said Dr. Shaikh Khalid bin Daij Al Khalifa, CEO of Beyon Cyber. 'In a list dominated by SaaS and Fintech players, we're proud to be the only cybersecurity company recognised.' Regional recognition The Deloitte Fast 50 ranks firms by verified four-year revenue growth and highlights innovation and performance. Emmanuel Durou, Partner and DME TMT Leader at Deloitte, noted, 'Beyon Cyber's consistent performance in the Fast 50 - and its top ranking in the new Kiyadat category - firmly positions it as one of the Middle East's most strategically important tech firms.' Growth ahead The company has announced plans to expand its regional footprint, particularly in the Kingdom of Saudi Arabia. It will also scale up its innovation engine through Beyon Cyber Labs, which serves as its R&D hub for next-generation cybersecurity solutions. Beyon Cyber says the recognition is not just a measure of growth, but a reflection of its long-term commitment to digital resilience and homegrown talent.
