Summary:

According to JLL, the BFSI industry in India is likely to break last year's office leasing record of about 11 million square feet. From January to September 2024, BFSI leasing totaled 8.8 million square feet, accounting for 16.4% of India's total leasing. Demand is mostly concentrated in technology hubs such as Bengaluru, Hyderabad, Chennai, and Pune, with Mumbai and Delhi NCR accounting for over 65% of domestic demand.

After IT services, the BFSI industry has risen to become India's second-largest office space occupier. Its gross leasing share has increased from around 11% (2017-2019) to 17-18% in recent years. Global players account for approximately 65% of leasing activity, with multinational corporations occupying two-thirds of this sector. Furthermore, the expanding fintech market is expected to grow from $584 billion to $1.5 trillion by 2025, increasing the need for office space and GCCs.

Source: IBEF 

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