Pune reports its all-time-high quarterly office leasing in Q2 2026
Pune, 7th July 2026: Pune’s office market recorded its all-time-high quarterly leasing performance in Q2 2026 (April-June), with gross absorption touching ~4.1 million square feet (mn. sq. ft.), according to CBRE South Asia Pvt. Ltd.’s latest flagship report ‘India Office Figures’ for Q2 2026.
The quarter’s leasing in the city was led by flexible space operators, which accounted for 38% of total demand, followed by infrastructure, real estate & logistics firms (19%) and technology occupiers (16%). The new supply in Pune stood at ~3.2 mn. sq. ft. during the quarter, as the city continued to feature among India’s leading supply markets. Pune, Bengaluru and Ahmedabad together accounted for 73% of the country’s Q2 2026 office completions.
Pune’s record quarter forms part of a broader all-India trend of scaling leasing and supply. India’s office sector recorded its highest-ever quarterly absorption of ~24.6 mn. sq. ft. in Q2 2026, up 18% quarter-on-quarter (Q-o-Q), with the record supply of ~21.0 mn. sq. ft., up 91% Q-o-Q.
Pune also featured among the top contributors to India’s large-format transaction activity, together with Bengaluru and Hyderabad, accounting for a combined 68% share of all deals above 200,000 sq. ft. signed during the quarter. The city’s flex-led leasing also echoed the pattern seen in Delhi-NCR, which recorded its own highest-ever quarterly flex space take-up in Q2 2026, reinforcing flexible space operators’ expanding footprint across India’s core office markets.
On a pan-India level, flexible space operators were the leading occupier segment with a share of 27%. Flex, technology and BFSI firms together drove nearly 63% of Q2 2026 leasing and 59% of H1 2026 leasing.
During the quarter, GCCs accounted for 42% of Q2 2026 absorption, while about 76% of new completions during the quarter were green-certified – trends increasingly visible in Pune’s own office landscape, where flex operators and technology occupiers continue to gravitate toward sustainable, tech-enabled campuses.
“India’s office market continues to demonstrate its structural depth and resilience, delivering back-to-back record quarters even as the world navigates a volatile geopolitical and economic backdrop,” said Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & North Africa, CBRE. “This strength is broad-based from GCCs deepening their presence to flexible space operators scaling rapidly across gateway and emerging cities alike. We expect this momentum, anchored by strong fundamentals and sustained occupier confidence, to continue through the rest of 2026.”
Ram Chandnani, Managing Director, Leasing Services, India, CBRE, said, “The demand across cities, asset classes and occupier types remains consistent. Occupiers are prioritising quality, sustainability and flexibility in equal measure – reflected in the scale-up of flex space adoption, the continued dominance of green-certified assets, and record activity in markets like Delhi-NCR and Pune. With investment-grade supply remaining tight relative to demand, we anticipate sustained rental appreciation across core micro-markets in the coming quarters.”
With Pune’s supply pipeline remaining strong and occupier interest sustained across flex, technology and infrastructure-led demand, CBRE expects the city to remain among India’s top-performing office markets through the rest of 2026.
