TCS, Walmart and State Street have taken on lease substantial space, according to Colliers India Office Snapshot: Q1 2025 report.
The Indian office market is witnessing a significant growth with the latest report by Colliers India Office Snapshot: Q1 2025 revealing that top companies like TCS, Walmart and State Street have taken on lease substantial space. This is a strong indicator of the positive sentiment and confidence in the Indian economy.
TCS, one of the leading IT services companies in India, has taken on lease over 1 million square feet of office space across various cities including Bengaluru, Chennai, Hyderabad and Pune. This shows the company’s commitment towards expanding its operations and providing employment opportunities to the skilled workforce in these cities.
Similarly, retail giant Walmart has also leased a significant amount of office space in Mumbai and Gurugram. This move is in line with the company’s plans to expand its presence in India and tap into the growing consumer market. With the Indian retail sector expected to reach $1.3 trillion by 2025, Walmart’s decision to lease office space highlights its confidence in the country’s potential for growth.
Another major player, State Street, a leading financial services company, has also leased a substantial amount of office space in Chennai and Bengaluru. This move is a testament to the company’s belief in the Indian market and its potential to attract global investments. With the government’s focus on promoting ease of doing business and various initiatives to boost the financial sector, State Street’s decision to expand its presence in India is a positive sign for the economy.
The Colliers India Office Snapshot report also highlights the growth of co-working spaces in the country. The demand for flexible and collaborative workspaces has been on the rise, with companies like WeWork, Regus and Awfis expanding their footprint in major cities. This trend is expected to continue in the coming years, with the report projecting a 40% growth in co-working spaces by 2025.
The increase in demand for office spaces by top companies is also driving the growth of commercial real estate in India. The report states that the office market witnessed a 20% growth in leasing activity in the first quarter of 2025, with Bengaluru, Mumbai and Delhi-NCR being the top three cities in terms of office space absorption.
This growth in the office market is not just limited to the major cities, but also in tier 2 and tier 3 cities. The report highlights that cities like Ahmedabad, Jaipur and Kochi have also witnessed a significant increase in office space leasing activity. This reflects the growing trend of companies expanding their operations beyond the traditional hubs and tapping into the potential of smaller cities.
The increase in office leasing activity by top companies is a positive sign for the Indian economy. It not only creates job opportunities but also boosts the demand for ancillary services like transportation, hospitality and retail. This growth in the office market also has a ripple effect on the overall real estate sector, leading to increased investments and development.
In conclusion, the Colliers India Office Snapshot report paints a promising picture of the Indian office market, with top companies like TCS, Walmart and State Street taking on lease substantial space. This reflects the confidence of these companies in the Indian economy and its potential for growth. With the government’s focus on promoting ease of doing business and various initiatives to boost the economy, the Indian office market is expected to continue its upward trajectory in the coming years.
