Hyderabad’s GCC expansion overtakes Bengaluru, emerges as key driver of real estate demand – poised for big leap by 2029

Hyderabad, the City of Pearls, has overtaken Bengaluru, the IT hub of India, in terms of growth in Global Capability Centres (GCCs). Although Bengaluru still tops the list in numbers with 880 GCCs, Hyderabad has narrowed the gap with the addition of 70 centres in FY25, taking the total to 515, as suggested by Anarock Research & Advisory and FICCI’s report.

What are GCCs?

Also known as global in-house centres or captives, GCCs are offshore units of large multinationals that perform technology operations.

The report titled ‘Hyderabad: The Rise of a Global City Powerhouse’ mentions that Hyderabad led the four cities in new GCC additions in FY25. Hyderabad witnessed the highest GCC expansion, with the addition of 70 centres, while Bengaluru added 30-35 in the same period, Pune added 15-20, and Chennai added 12-15. Pune with over 475 and Chennai with more than 280 GCCs take third and fourth spots, respectively.

The report further suggested that the city is expected to add another 50-70 GCCs across technology, engineering, BFSI, life sciences, analytics, consulting and digital operations within a year.

Hyderabad’s GCC accounted for around 20% of India’s total as of March 2026. From a traditional cyber hub into a major GCC destination, the city’s evolution is increasingly shaped by a shift to R&D, engineering, analytics, digital, and corporate functions.

Besides being a cost-efficient offshore base, Hyderabad is on track to become a hub for global innovation and decision-making. Hyderabad is seen as an attractive destination because of the supply of deep technology talent, competitive occupancy costs, established infrastructure, a growing BFSI and life sciences ecosystem, and expanding Grade A office space. With the western corridor emerging as the city’s strategic commercial cluster, the city is poised for a big leap in office market expansion by 2029.

According to the report, Hyderabad’s commercial real estate landscape is expected to generate 8-12 million sq ft of additional office demand over the next three to five years.

Anarock Group chairman Anuj Puri said, “This GCC expansion is already translating into significant real estate demand in the city. The report highlights that GCC office leasing in Hyderabad increased from 1.9 mn sq. ft. in 2021 to 4.5 mn sq. ft. in 2025, while the city recorded 3.05 mn sq. ft. of GCC absorption in H1 2026 alone. The sustained leasing momentum reflects the deepening of Hyderabad’s GCC ecosystem and the increasing preference of global enterprises to establish larger and more sophisticated operations in the city.”