Category: GCC Expansion

Pune: Pune’s position as a leading destination for Global Capability Centres (GCCs) continues to strengthen, with TIAA Global Capabilities leasing approximately 2.56 lakh square feet of office space at Panchshil Vantage in Wagholi for a 10-year term. The contractual rent over the lease period is estimated at around ₹320 crore, according to lease-related documents accessed by Business Standard through real estate data analytics firm Propstack.

TIAA Global Capabilities, the Indian subsidiary and strategic global delivery centre of TIAA (Teachers Insurance and Annuity Association of America), has taken the office space from P-one Infrastructure for carrying out its business operations.

The lease has been signed at a monthly rental of ₹92 per square foot, translating into an initial monthly rent of approximately ₹2.35 crore. The agreement includes a 15 per cent rent escalation every three years, while the security deposit stands at around ₹14.11 crore.

Expansion to Take Place in Two Phases

TIAA Global Capabilities will occupy the newly leased space in two phases. The first tranche of approximately 1.88 lakh square feet, spread across floors 5 to 7, is scheduled to be taken over from December 2026. A further 67,717 square feet on the eighth floor is expected to be occupied from June 2027.

The expansion comes as TIAA Global Capabilities continues to scale its operations in India. The company said that 2026 marks 10 years of TIAA Global Capabilities’ presence in India, and that the latest expansion reflects the continued growth and strategic importance of its India operations.

The company is scaling its footprint as an AI-powered Global Capability Centre, supporting growing demand across technology transformation, artificial intelligence and emerging technologies, data and analytics, risk management and client experience functions.

According to TIAA Global Capabilities, the additional space in Pune will enable it to consolidate teams and further strengthen the range of capabilities being developed in the city, while providing scope for future growth as its operations evolve.

Pune Strengthens Its Role as a GCC Hub

TIAA established its Global Capability Centre in India in 2016. The centre supports TIAA’s technology, operations and business-facing functions and provides global technology, operations and shared services to the company’s businesses and associates.

TIAA Global Capabilities currently has operations in Mumbai and Pune, with around 3,500 associates across the two locations.

The company’s latest Pune expansion adds to a growing list of large-scale GCC and enterprise office commitments in the city. The demand is being supported by Pune’s established technology talent pool, engineering capabilities, business services ecosystem and expanding commercial real estate infrastructure.

Pune’s office market has also recorded strong growth in 2026. According to Savills India, the city recorded its highest half-yearly gross office absorption in the past decade at 6.4 million square feet during the first half of calendar year 2026, representing a 56 per cent year-on-year increase.

Pune emerged as India’s second-largest office market after Bengaluru during the period. Office leasing activity was driven primarily by IT-BPM, flexible workspaces, and engineering and manufacturing companies, with engineering and manufacturing replacing BFSI among the city’s top three demand drivers.

A Positive Signal for Pune’s GCC Ecosystem

The TIAA expansion is significant not only because of the size and value of the lease, but also because of the nature of the capabilities being developed in Pune. The company’s focus on artificial intelligence, data and analytics, technology transformation, risk management and client experience reflects the continued evolution of Pune’s GCC ecosystem from traditional shared services towards higher-value, technology-led global functions.

With global enterprises increasingly consolidating technology, analytics, operations and business functions in India, Pune is emerging as an important location for organisations looking to build and scale multidisciplinary global capability teams.

TIAA’s latest commitment therefore reinforces Pune’s growing importance as a strategic GCC destination and highlights the city’s ability to support long-term expansion by global financial services and technology-driven organisations.

Pune: Accommodations Plus International (API), a global provider of crew accommodation and travel management solutions, has opened a new Center of Excellence (CoE) in Pune, marking another significant step in the company’s continued expansion and long-term investment in India.

The new Pune center builds on API’s presence in the region for more than 15 years and reflects the company’s continued focus on strengthening its technology, product and innovation capabilities in India.

According to the company, the Center of Excellence represents more than an expansion of its physical workplace. It is positioned as a strategic investment in API’s people, technology capabilities, products and future growth.

Strengthening Technology and Product Capabilities

India’s deep technology talent pool and expanding innovation ecosystem have played an important role in API’s continued investment in the country.

Through its Pune Center of Excellence, the company aims to further strengthen its technology and product capabilities while creating a foundation to support its next phase of growth.

The new center is also expected to provide an environment where technology professionals can contribute to the development and advancement of solutions supporting API’s global operations and customers.

With more than 15 years of operations in the region, the latest expansion demonstrates API’s intention to build long-term capabilities in India rather than viewing the country solely as an operational support location.

Pune Continues to Attract Global Capability Operations

API’s expansion also adds to Pune’s growing ecosystem of Global Capability Centers (GCCs), technology centers and Centers of Excellence established by international organizations.

Pune has increasingly emerged as a preferred location for companies developing capabilities across technology, engineering, digital transformation, research and development, product development and business operations.

The city offers access to a large pool of technology and engineering professionals, established educational institutions, a mature IT ecosystem and expanding commercial infrastructure.

These advantages have encouraged global organizations to establish and expand strategic operations in Pune.

GCCs Moving Toward High-Value Capabilities

The establishment of API’s Center of Excellence reflects a broader transformation taking place across India’s GCC landscape.

Global companies are increasingly moving beyond traditional back-office and support functions and developing India-based centers focused on technology, innovation, product engineering, digital capabilities and specialized expertise.

Pune has become an important beneficiary of this shift, with multinational companies continuing to invest in long-term capability and technology operations across the city.

API’s latest investment further contributes to this evolving ecosystem and highlights Pune’s ability to attract global organizations seeking both technology talent and opportunities to build strategic capabilities.

A New Chapter for API in India

The opening of the Pune Center of Excellence marks a new chapter in Accommodations Plus International’s India journey.

Building on more than 15 years of presence in the region, the company’s latest investment reinforces its commitment to India’s technology talent and innovation ecosystem while strengthening the role of Pune within its long-term growth strategy.

The development also adds another international organization to Pune’s expanding network of Centers of Excellence and global capability operations, further strengthening the city’s position as an important destination for global technology and business capabilities.

Pune: Pune’s commercial office market witnessed strong leasing momentum during the second quarter of 2026, with gross leasing volume reaching 3.22 million sq. ft., registering a 54% quarter-on-quarter (QoQ) increase and 13% year-on-year (YoY) growth, according to a Cushman & Wakefield report cited by ANI.

The growth was significantly driven by Global Capability Centres (GCCs), which accounted for approximately 52% of Pune’s total office leasing activity during Q2 2026. GCCs leased around 1.66 million sq. ft. of office space during the quarter, highlighting the growing demand from multinational companies establishing and expanding their operations in Pune.

The strong contribution from GCCs further reflects Pune’s emergence as a preferred destination for global companies looking to build technology, engineering, research and development, analytics, and other high-value business capabilities in India.

Flexible workspace operators also remained active during the quarter and accounted for a significant share of Pune’s office leasing activity. The combination of demand from GCCs and flexible workspace providers contributed to the overall acceleration of the city’s commercial real estate market.

With the strong Q2 performance, Pune’s gross office leasing volume for the first half of 2026 reached 5.31 million sq. ft., demonstrating sustained demand for quality commercial office space across the city.

Among Pune’s major office markets, SBD East emerged as the leading submarket, accounting for approximately 56% of the leasing activity during the quarter. PBD West contributed around 33%, reflecting continued occupier interest across Pune’s established and emerging business corridors.

The latest leasing numbers come as Pune continues to attract global enterprises seeking access to the city’s large technology and engineering talent pool, mature IT ecosystem, educational institutions and expanding Grade A commercial office infrastructure.

The significant share of GCC-led leasing also underlines a broader shift in Pune’s commercial real estate market. As multinational companies increasingly expand their India-based capabilities beyond traditional technology functions, demand for offices supporting engineering, digital transformation, R&D, finance, analytics and other strategic operations is expected to play an important role in Pune’s office market.

With more than half of Q2 office leasing driven by GCCs, Pune continues to strengthen its position as one of India’s important destinations for Global Capability Centre growth and expansion.

Source: Cushman & Wakefield report, as reported by ANI.

Pune: Global IT services and consulting company adesso India has expanded its presence in India with the inauguration of a new office in Pune, reinforcing the city’s growing reputation as a preferred destination for global technology and digital engineering companies.

The Pune office was inaugurated by Burak Barı, Business Area Lead – West Europe & SmartShore at adesso SE, alongside Pramod Muralidharan and Shali Hassan, Managing Directors of adesso India, together with members of the company’s global leadership team.

The new office has been established as an innovation hub that will focus on next-generation technologies, including Agentic AI, Cloud Architecture, and Enterprise Modernization. The facility is expected to support digital transformation initiatives for global clients while strengthening collaboration between engineering and technology teams.

The expansion comes shortly after the company inaugurated another office in India, highlighting adesso’s continued investment in the country and its long-term growth strategy.

As part of its Pune expansion, adesso India also plans to grow its local technology workforce by hiring skilled professionals across engineering, cloud, artificial intelligence and enterprise technology domains. The new office is expected to play an important role in delivering complex digital transformation projects for customers worldwide.

Pune has rapidly emerged as one of India’s leading technology and Global Capability Centre (GCC) destinations, attracting multinational companies across software engineering, product development, research and development, cloud computing and enterprise services. adesso India’s latest investment further strengthens the city’s position as a strategic hub for innovation-driven operations.

With increasing investments from global enterprises, Pune continues to reinforce its standing as a preferred location for technology innovation, engineering excellence and capability-led business operations in India.

About adesso India

adesso India is the Indian arm of adesso SE, a global IT services and consulting company that delivers digital transformation solutions across industries. The company specializes in software engineering, cloud technologies, enterprise modernization, artificial intelligence and digital consulting, helping organizations accelerate innovation and business transformation through technology.

Pune, India: Pune continues to strengthen its position as one of India’s fastest-growing Global Capability Centre (GCC) destinations, with The Magnum Ice Cream Company announcing the establishment of a 67,000 sq. ft. Global Business Solutions (GBS) Hub in the city.

The new facility will be located at EON West, Wakad, Pune, and will serve as a strategic centre supporting the company’s global business operations. Designed as a key hub for talent and operational excellence, the facility reflects the company’s continued investment in building scalable global capabilities from India.

According to the company, the Global Business Solutions (GBS) function plays a vital role in enabling teams to operate more efficiently by bringing together expertise across multiple business functions. The Pune hub will support business operations, process excellence, transformation initiatives and the delivery of strategic priorities across the company’s global markets.

As operations expand, the Pune centre is expected to become an increasingly important part of The Magnum Ice Cream Company’s global business services network, driving operational efficiency, innovation and cross-functional collaboration.

The investment further reinforces Pune’s growing reputation as a preferred destination for multinational companies establishing Global Capability Centres and Global Business Services (GBS) operations. With its highly skilled workforce, world-class infrastructure and mature technology ecosystem, Pune continues to attract organisations seeking to build high-value global operations in India.

The establishment of The Magnum Ice Cream Company’s Global Business Solutions Hub adds another milestone to Pune’s expanding GCC ecosystem and highlights the city’s growing role in supporting global business transformation, shared services and enterprise innovation.

Pune, India: Pune continues to strengthen its reputation as one of India’s leading Global Capability Centre (GCC) destinations with Edwards Lifesciences announcing the launch of a new IT Innovation Hub in the city.

The new facility represents a long-term investment in Edwards Lifesciences’ global technology capabilities and will serve as a strategic centre supporting the company’s worldwide operations. Working closely with teams across multiple regions, the Pune hub will deliver reliable, scalable and high-quality technology solutions that enhance the company’s global digital infrastructure.

The IT Innovation Hub will focus on advancing automation, artificial intelligence (AI), cloud computing, data engineering and enterprise technology. It will bring together expertise across end-user services, application development, enterprise platforms and digital operations, enabling Edwards Lifesciences to improve operational efficiency and accelerate innovation in support of its mission to advance patient care.

The investment further reinforces Pune’s growing importance as a preferred destination for global healthcare and life sciences companies establishing technology-driven Global Capability Centres. The city’s strong engineering talent, mature IT ecosystem, world-class infrastructure and thriving innovation landscape continue to attract multinational organisations expanding their digital and technology operations in India.

As enterprises increasingly invest in AI, cloud technologies and digital transformation, Pune has emerged as a strategic hub for high-value technology functions that support global business operations. Edwards Lifesciences’ latest investment adds to the city’s expanding ecosystem of Global Capability Centres and highlights Pune’s growing role in shaping the future of healthcare technology and enterprise innovation.

With every new GCC, Pune further strengthens its position as a global innovation destination, and Edwards Lifesciences’ new IT Innovation Hub marks another significant milestone in the city’s continued growth as a centre for technology, research and digital excellence.

Pune: Global learning and education technology company HMH has inaugurated a new office in Pune, marking another important milestone in the company’s growth journey in India.

The new facility was inaugurated in the presence of Jack Lynch, Chief Executive Officer of HMH, and Jaya Wadhwani, Senior Vice President of Engineering and Country Manager at HMH Tech India.

Their presence highlighted the strategic importance of HMH’s India operations in supporting the company’s global technology, engineering and innovation objectives.

Designed to promote collaboration, innovation and employee engagement, the new Pune office reflects HMH’s continued investment in the city’s skilled technology talent and growing business ecosystem.

The expansion also reinforces Pune’s position as a preferred destination for Global Capability Centres. The city continues to attract global organisations looking to establish and expand their technology, engineering, product development and innovation capabilities in India.

As more international companies strengthen their presence in Pune, developments such as HMH’s new office further enhance the city’s reputation as one of India’s fastest-growing GCC hubs.

The new facility represents an exciting chapter for the HMH Tech India team and demonstrates the company’s long-term commitment to building capabilities and supporting global business operations from Pune.

Key people associated with the development: Jack Lynch, Jaya Wadhwani, Parag Ballal, Stuti Awasthi, Himanshu Jain, Nagaraj P., Namrata Kulkarni and Pallavi Kulkarni