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Schwab Leases Huge Hyderabad Office Space
6 Mar
Summary
- Charles Schwab leased 3.45 lakh sq ft office space in Hyderabad.
- The five-year lease has a rental commitment of Rs 247 crore.
- The deal highlights Hyderabad's growing IT and GCC hub status.
Charles Schwab, a prominent US financial services firm, has secured a substantial office space of 3.45 lakh sq ft in Hyderabad's Gachibowli IT corridor. This expansion of its global capability centre (GCC) operations in India involves a five-year lease agreement.
The lease for the Phoenix Equinox Tower 2 property entails a potential rental commitment of Rs 247 crore. It includes an annual rent escalation of 5%, with a security deposit of Rs 25.28 crore already provided. The Indian arm, Charles Schwab Services India Private Limited, finalized this agreement, which is among the larger office leases by a financial services firm in Hyderabad recently.
The leased space spans five floors, from the 10th to the 14th. The monthly rent is set at Rs 108 per sq ft, resulting in an approximate monthly rental outflow of Rs 3.73 crore. The lease commencement is staggered, with rent for the first phase starting in April 2026 and the second phase in July 2026.
This deal reinforces Hyderabad's status as a prime location for GCCs, attracting firms in technology, financial services, and consulting. Factors contributing to the city's appeal include large Grade A office spaces, a skilled tech talent pool, and competitive rental costs compared to other major Indian cities.
Multinational corporations are increasingly leveraging India for technology development and operational support, driven by the country's engineering talent and growing digital capabilities. Hyderabad's office market demonstrated resilience, with 11.4 million sq ft of gross office leasing recorded in 2025, a 10% year-on-year increase, largely propelled by GCCs.
