Despite evolving global policies,
commercial office leasing activity in
India for top six cities has remained
resilient and continues to show strong
momentum. However, ICRA will closely
monitor the situation, as
macroeconomic and geopolitical
factors evolve.
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Pune recorded 9.9 million square feet (msf) of fresh Grade-A office supply in FY2025 and 4.4 msf in
Q1 FY2026, against net absorption of 7.7 msf and 2.5 msf.
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As on June 30, 2025, Pune accounts for 11.7% (~120 msf) of the Grade-A office space across India’s
top six cities.
Exhibit : Annual trend in net absorption, supply and vacancy for top six Indian office markets
