Nagarro Leases 700,000 Sq Ft of Office Space in Gurgaon for GCC Operations

Real Estate News

Nagarro Enterprise Services, a German information technology (IT) services firm, has leased 706,000 square feet of office space in Gurugram for its Global Capability Centre (GCC) operations.

The office, with a seating capacity of around 3,000 people, will serve as a collaborative workspace for Nagarro’s employees across India, especially in the Delhi National Capital Region (NCR), according to sources familiar with the deal.

The company will pay a monthly rent of ₹2.9 crore, as per lease documents sourced by Propstack, a real estate data analytics firm. The rent will escalate by 12 per cent every three years during the lease term.

Nagarro has signed a 12-year lease, with the agreement commencing on 1 January 2025. It has also deposited a security amount of ₹10 crore.

The office space has been leased from Chimera Developers LLP, a Delhi-based real estate firm active in commercial leasing.

Nagarro had committed to the lease back in 2018, when the building was still under construction.

In addition to the office area, the company will gain access to multilevel parking facilities. The space is located in Sector 18, Gurugram, where the average rental rate stands at around ₹63 per square foot per month, according to Propstack.

Nagarro’s footprint and GCC leasing trends

Nagarro operates approximately 12 ‘hives’ in tier-2 Indian cities and maintains offices in 38 countries, employing around 18,000 people globally.

Meanwhile, office leasing by GCCs in India has been on an upward trajectory. According to real estate consultancy Anarock, GCCs leased 8.35 million square feet (msf) of gross office space in Q1 CY25 across the top seven Indian cities.

Of this, Delhi NCR accounted for 23 per cent, witnessing 1.91 msf of GCC leasing during the period.

Source : Bsiness-Standard