NEW DELHI:

Colliers India is targeting an order book of &1,100 crore in 2025, up from a revenue of approximately &crore in the previous calendar year. The real estate services firm has reported a robust start to the year, with its leasing business already showing 20-25% growth over 2024.

Sankey Prasad, chairman and managing director in an exclusive interview with ETRealty said that the company remains bullish on India’s commercial real estate sector, citing strong fundamentals and continued demand despite global headwinds.

As part of its global integration strategy, Colliers is establishing a new Global Capability Centre (GCC) in Bengaluru. The facility, which is currently operating out of a smaller site, will soon be expanded into a larger, consolidated space. The GCC will serve Colliers’ international operations, with all roles being new hires rather than internal transfers. \”This centre is purely for Colliers’ internal global requirements, aimed at cost optimisation and centralised support,” Prasad said.

Despite economic uncertainties and layoffs in key Western markets, Indias office market is projected to remain resilient in 2025. We expect the gross office leasing this year to be in the range of 65- 70 million sq ft, close to last years 66.5 million,& said Prasad. He noted that Q1 2025 alone recorded 15.9 million sq ft of leasing, signaling strong momentum.

Prasad attributes the sustained demand to key sectors like engineering, manufacturing, and BFSI, which are likely to account for 35- 40% of office leasing. Technology firms, even amid hybrid work shifts, are expected to contribute another 25- 30%, while flex space operators will continue to hold a 20% share. Select tier-2 and tier-3 cities may also attract leasing activity, driven by cost advantages and improved infrastructure.

Although widespread layoffs in the US and Europe have triggered fears of reduced expansion plans, Prasad noted that major firms in India have shown caution in real estate expansion since the pandemic.Most companies did not expand their office footprint in proportion to headcount growth in the last few years,; he said. & This conservative strategy is now insulating them from overexposure as they realign workforce needs

He dismissed the idea of a major leasing slowdown unless theres a global economic shock, stating that & many multinationals are still planning to take up more space by Q3 or Q4.” He also noted that Colliers own leasing pipeline has grown by 20- 25% compared to last year.