Intellion Offices by Tata Realty & Infrastructure Ltd Posts 60% YoY Growth in GCC Absorption

Mumbai /November 6, 2024: Intellion Offices, a leading commercial real estate player in India, has reported a significant surge in Global Capability Center (GCC) absorption. The company experienced a 60% year-over-year (YoY) growth in GCC uptake, with a 42% increase in the first half of FY 2024-25 compared to the previous fiscal year, the company said in a statement. 

GCCs accounted for a substantial 64% of Intellion Offices’ total absorption in FY24, solidifying its position as a preferred choice for multinational companies establishing their offshore operations in India. The trend continued in H1 FY 2024-25, with GCCs contributing nearly 80% to the overall absorption, the statement added.

A sectoral breakdown shows that the IT/ITeS sector makes up 63% of GCC occupancy, followed by BFSI at 20%, pharmaceuticals at 12%, and FMCG at 1%. This broad sector appeal underscores Intellion Offices’ capacity to cater to the unique operational demands of different industries, the statement added.

Sanjay Dutt, MD & CEO of Tata Realty & Infrastructure Ltd, said, “By capitalizing on India’s evolving regulatory framework and strong digital infrastructure, Intellion Offices has enabled the expansion of numerous GCCs, reinforcing the country’s status as a global hub, supported by a skilled workforce and a stable business environment. With a focus on sustainability, advanced infrastructure, and prime locations, we are well-positioned to continue attracting leading global corporations from a wide range of industries to India.”

In terms of city-wise performance, Chennai stood out in FY 2023-24, contributing the highest GCC absorption in the portfolio, with Ramanujan Intellion Park accounting for a 72% GCC occupancy share. Chennai continues to be a major contributor with GCC absorption at Ramanujan Intellion Park accounting for about 80% of the total demand. Meanwhile, Gurugram saw a 60% occupancy share of GCCs, witnessing strong GCC interests and demand expected to have strong tailwinds with several interests currently in discussions, the statement added.