Hyderabad overtakes Delhi, Mumbai in office leasing as Wise, DE Shaw sign big deals

New Delhi: Global financial technology company Wise and investment and technology development firm DE Shaw have signed leases for 500,000 sq ft and 750,000 sq ft of office space, respectively, in Hyderabad, making them the country's second- and third-largest office leasing deals in the September quarter of 2026.

Hyderabad recorded 4.21 million sq ft of gross office leasing in the September quarter, more than double the previous quarter's volume and 49.5% higher than a year earlier. This placed the city behind Bengaluru, which recorded 5.2 million sq ft of gross leasing, including a 1.2 million sq ft deal by HSBC earlier in the quarter.

Among the country's top eight cities, Hyderabad is now ahead of Delhi and Mumbai in office leasing activity.


"We have seen some strong office space activity in Hyderabad and most of the demand for large office space is coming from the city," said a senior real estate consultant. "Global corporates are establishing GCCs there, and some of the land auctions we have seen recently are a signal for future demand."