Flexible workspace providers became India’s biggest office occupiers in the second quarter of 2026, surpassing technology and financial services companies as demand for adaptable workplaces continued to grow, according to Whalesbook.
Flex Offices Overtake Tech
According to new market data, flexible workspace operators accounted for 27% of gross office leasing in Q2, ahead of technology firms at 21% and banking, financial services and insurance companies at 13%.
Flexible office leasing was especially strong in several of India’s largest commercial markets.
In Delhi-NCR, flex operators leased 45% of the region’s 3.6 million square feet of office transactions—the highest quarterly flex leasing recorded there. Pune followed with flexible workspace providers accounting for 38% of its 4.1 million square feet of leasing activity. Flex operators also captured 26% of leased space in Bengaluru and 24% in Hyderabad.
Supply Constraints Persist
While demand for premium office space remains strong, new supply continues to be limited in some prime markets. In Delhi, developers are increasingly redeveloping older office buildings as available land becomes scarce, while planning changes are expected to support additional future development.
India’s office market recorded 45.5 million square feet of absorption during the first half of 2026, up 9.6% from a year earlier, underscoring continued demand as companies increasingly incorporate flexible workspace into their real estate strategies.
