BENGALURU: US-based financial services major Charles Schwab has leased about 3.45 lakh sq ft of office space in Hyderabad’s Gachibowli locality as part of its expansion of global capability centre (GCC) operations in India.
The company has taken up space at Phoenix Equinox Tower 2, a commercial office property owned by Phoenix IT City Private Limited. The building is part of the Phoenix Equinox business park located in Hyderabad’s key IT corridor of Gachibowli
“Based on the escalation structure, the five-year lease could translate into a total rental commitment of about Rs 247 crore over the tenure.The agreement also includes an annual rental escalation of 5%. The tenant has deposited a security amount of Rs 25.28 crore with the landlord,” according to the documents shared by Propstack.
The lease has been signed by Charles Schwab Services India Private Limited, the Indian arm of the US brokerage and financial services firm. The transaction marks one of the larger office leasing deals by a global financial services firm in Hyderabad in recent months as multinational companies continue to expand their technology and operations centres in India.
“The company has leased five floors — 10, 11, 12, 13, and 14 — in the tower, taking up a total chargeable area of 3.45 lakh sq ft. The agreement is a fresh lease with a tenure of 60 months. As per the lease terms, the rent has been fixed at Rs108 per sq ft per month, translating into a monthly rental outflow of about Rs 3.73 crore. On an annual basis, the rental payout works out to roughly Rs 44.76 crore,” the document mentioned.
The lease commencement will take place in phases. Rent for the first phase of the space will begin from April 2026, while the second phase will start generating rental payments from July 2026, it said.
The deal reflects the continued momentum in Hyderabad’s office market, particularly in the Gachibowli–Financial District corridor, which has emerged as a key hub for global capability centres across technology, financial services, and consulting firms.
Hyderabad has seen strong demand from multinational corporations setting up GCCs to support global operations across technology development, analytics, back-office functions, and innovation centres. The availability of large Grade A office campuses, a deep technology talent pool, and relatively competitive rentals compared with other major cities have helped the city attract significant occupier interest.
Large global financial institutions, technology firms, and consulting companies have been expanding their presence in the city over the past few years, driving sustained leasing activity in prime office clusters such as Gachibowli, the Financial District, and HITEC City.
For companies like Charles Schwab, India has become an increasingly important location for technology development and operational support functions. Global financial services firms have been steadily scaling up their India centres to tap into the country’s engineering talent and build digital capabilities that support their global platforms.
According to a report by CBRE, Hyderabad recorded around 11.4 million sq ft of gross office leasing in 2025, marking a 10% year-on-year increase and making it one of India’s strongest performing office markets. Demand was largely driven by global capability centres (GCCs), which accounted for about 50% of the total office absorption in the city during the year.
