Company Overview - ICE MT India Pvt. Ltd, a subsidiary of Intercontinental Exchange Inc., has opened a global capability centre (GCC) in Pune, covering 193,053 sq. ft and paying a monthly rent of ₹1.73 crore with a 15% rent escalation every three years [1][2][3] Industry Trends - The demand for large-format office spaces in Pune is robust, with the nine-year lease indicating long-term confidence in the Magarpatta micro-market as a premier IT corridor [3] - GCC leasing in India reached a record 31 million sq. ft in 2025, up from 28 million sq. ft the previous year, driven by IT-led cities like Bengaluru, Hyderabad, and Pune [4] - Pune has accounted for 15-20% of national GCC activity over the past four years, attracting multinational corporations due to quality-of-life advantages and talent availability [5][6] Market Dynamics - The GCC landscape in India has evolved, with over 90% of activity concentrated in Tier I cities, commanding more than 263 million sq. ft of Grade A office stock and driving 40% of all office leasing activity over the past decade [6] - More than 200 new GCCs have entered India in the past two years, with projections indicating the total GCC footprint will exceed 350 million sq. ft within the next three to four years, primarily driven by US-headquartered firms [7]