 "Coworking space")
Indian coworking operators are shifting gears to capture the booming demand from Global Capability Centres (GCCs). Moving beyond their traditional base of startups and small and medium enterprises (SMEs), players such as Awfis Space Solutions, WeWork India, Smartworks, and Cowrks by Brookfield are designing large, premium centres tailored to multinational enterprises, complete with high-end amenities, enterprise-grade security, and flexible leasing structures while commanding extra premiums on rents.
The GCC story in India has grown significantly in recent years. Multinational firms are no longer restricting their centres to IT (information technology) and BFSI (banking, financial services, and insurance) functions; they are increasingly establishing hubs for engineering, manufacturing, e-commerce (ecom), research and development (R&D), and artificial intelligence (AI).
“There has been a growing presence of GCCs of multinational companies in the Indian office space market over the last few years. While the top seven Indian cities are currently on the top radar of these companies for leasing, the government’s support offered in the Union Budget 2025-26 is further propelling demand in Tier-II and -III cities as well,” said Peush Jain, managing director — commercial leasing & advisory, Anarock Group.
According to Colliers, office space uptake for the first three quarters of 2025 reached 50.9 million square feet (msf), marking an 8 per cent year-on-year (Y-o-Y) growth, while GCCs accounted for 40 per cent of this leasing. Coworking operators are aligning their product strategies to meet this demand.
Awfis has launched premium formats like Gold and Elite, with the latter positioned for Fortune 500 clients. “As a leader in India’s flex space industry, we see the unprecedented boom in GCCs as a defining opportunity to reimagine the modern workplace,” said Amit Ramani, chairperson and managing director, Awfis Space Solutions. He added that Awfis Elite centres command 40-45 per cent rental premiums over flagship spaces.
Cowrks, backed by Brookfield, is focusing on enterprise products like Enterprise Plus and AtelierSuites. “From simple back-office extensions, GCCs have evolved into hubs for innovation, engineering, and strategic decision-making. The shift has created a requirement for adaptable, future-proof workspaces that offer both global-grade infrastructure, and a seamless employee experience,” said Alok Aggarwal, chief executive officer (CEO), Brookfield Properties India.
Smartworks has rolled out SmartVantage, a GCC-specific platform offering large-format campuses, and curated partner ecosystems. “For GCCs, flexibility is critical — they need quick turnaround spaces with the ability to expand seamlessly as they grow, and our pan-India presence, speed to office delivery within 60 days, and robust portfolio make that possible,” said Neetish Sarda, founder and managing director (MD), Smartworks.
WeWork India has also seen GCCs drive momentum. “GCCs today contribute almost 36 per cent of our business. Our model works very well, where they can actually enter India without any upfront cost or large commitment and scale as hiring continues,” said Karan Virwani, MD and CEO,
WeWork India.
Specialised GCC centres require higher upfront investment but are proving lucrative. Jain of Anarock said such hubs command 15-20 per cent higher rentals, and attract long-term lock-ins, improving operator profitability.
“GCCs largely prefer grade-A office buildings in top micro markets across cities. They are either taking large spaces within these areas or even the entire building, and then tailoring it as per the GCC demand. The facilities these coworking players are offering are also tailor-made as per the GCCs’ requirements. All in all, they are looking to provide GCCs a complete plug-and-play service, with absolutely no compromise on security, control or even scalability,” Jain said.
Additionally, industry leaders believe that the ongoing layoffs and the sluggishness in the IT/ITeS sector have been offset by the GCC demand.
With nearly 1,800 GCCs currently operating in India and projections to reach 3,000 in the next five to seven years, coworking firms are betting that specialised, premium centres will cement their role as partners in this global expansion.
Flex operators, too, are witnessing an upcycle with a spree of public listings recently amid growing demand. They leased 9.2 msf of space during January-September 2025, up 18 per cent Y-o-Y. Their share in the overall leasing stood at 18 per cent.
