Mumbai, March 2026 – India’s flexible office stock has crossed the 100 million square feet mark, tripling between 2020 and 2025 to reach 110 to 114 million square feet, according to a joint report by real estate consultancy CBRE and industry body FICCI Maharashtra. The segment has expanded at a compounded annual growth rate of 23-25 per cent over the past five years. India currently has over 500 flexible workspace operators spanning across 2,600 locations. As of March 20, 2026, the total market capitalisation of listed flex players in India stood at approximately $2-2.2 billion. In 2025, demand for flexible workspaces was led by IT and technology firms, contributing close to 27-32 per cent of total deal volume. Global occupiers dominated with a 55-60 per cent share, compared to 40-45 per cent from domestic firms.
City-Wise Breakdown and GCC Integration
Bengaluru is India’s largest flexible workspace market, with a total stock of 30-32 million square feet, with demand primarily driven by IT, technology and software development, BFSI, and business consulting sectors. Delhi-NCR ranks second with 21 to 23 million square feet, followed by Pune at 13.6-14.6 million square feet.
As global capability centres scale in India, their use of flexible workspaces will deepen, driven by speed, scalability and standardised operations. Rising institutional and public capital is expected to steer more disciplined, network-led expansion, strengthening long-term stability and cementing flex’s role in India’s office market. GCCs accounted for 40-45% of enterprise flex demand in 2025, a share that is expected to approach half of all enterprise seat uptake over the next two years.
The Forward Outlook: Flex as Portfolio Strategy
Flex operators are anticipated to play a significant role, contributing 15-18 million sq ft of leasing in 2026, representing a 20-25 per cent share of total demand. Approximately 80 per cent of leasing activity is expected to be concentrated in green-certified buildings, reflecting the increasing importance of sustainability and ESG considerations.
Anshuman Magazine, Chairman and CEO of CBRE India, South-East Asia, Middle East and Africa, said “Flex is now a core component of how India’s leading companies plan and manage their real estate portfolios. Occupiers have moved well beyond experimentation, flex is being integrated into long-term portfolio planning and demand is being shaped by workforce strategy and geographic flexibility.”
