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Charles Schwab has further expanded its presence in India by leasing a large office space in Hyderabad's Gachibowli IT corridor to support its global capability centre operations. The Indian subsidiary signed a five year lease for roughly 3.45 lakh square feet across five floors at Phoenix Equinox Tower 2. Monthly rent is set at about INR 108 per sq ft with a 5 % annual escalation, and payments will begin in phases from next April and July. The space will accommodate technology, analytics, and other critical support functions, reflecting Hyderabad's continued appeal for multinational firms.
Charles Schwab, the US-based financial services and brokerage firm, has expanded its operations in India by leasing a significant office space in Hyderabad. The Indian arm, Schwab Services India Pvt. Ltd., has entered into a five year lease for approximately 3.45 lakh square feet across the 10th to 14th floors of Phoenix Equinox Tower 2, a prime commercial building in Gachibowli. The move is aimed at strengthening the company's global capability centre operations, which include technology, analytics, financial services support, and other mission critical functions. Advertisement
According to Propstack documents, the lease is structured with a monthly rent of around INR 108 per square foot, amounting to approximately INR 3.73 crore per month. The lease also includes a 5% annual rental escalation and a security deposit of nearly INR 25.28 crore. Payments will be phased, with the first tranche starting from April next year and the second from July. This phased commencement allows the company to gradually scale operations as per business requirements.
Hyderabad has increasingly attracted multinational corporations, especially in the financial services and IT sectors, due to its deep talent pool, competitive rental rates, and availability of Grade A office infrastructure. In recent years, several global firms have either set up new offices or expanded their existing campuses in the city, making it one of the fastest-growing office markets in India.
The Charles Schwab lease reflects the trend of international companies establishing or enlarging their capability centres in Hyderabad, leveraging the city's robust infrastructure and connectivity. The transaction highlights investor confidence in Hyderabad's commercial real estate market and its suitability for long-term office leasing.
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