Mumbai has experienced the highest office space absorption in Q3, with 3.5 million square feet of gross leasing volume (GLV), according to Cushman & Wakefield. Delhi-NCR follows with 3.4 million square feet, while Hyderabad and Bengaluru are third and fourth. The office segment in India is undergoing changes in occupier demands, and the country is attracting business expansion.
The BFSI sector is currently experiencing the highest hiring and attrition rates. There is a strong demand for open positions, particularly in credit card sales and customer service roles. The hospitality and tourism sectors are also seeing growth, with a 60% increase in related jobs year-on-year. There is a preference for women employees in 70% of these roles. In terms of geography, business-related hirings are concentrated in metro cities, while local hiring is more prominent in leisure tourism areas.
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After selling metals and mining shares worth ₹7,000 crore in August, FPIs offloaded another ₹4,556 crore worth of shares in the sector. Overseas investors also sold power shares worth ₹4,153 crore after they allocated a dominant ₹11,563 crore to the sector stocks in August.
FPIs pumped Rs 6,400 crore into BFSI (Banking, Financial Services, and Insurance) stocks after selling a similar amount in August. Nifty Bank and Nifty Financial indices gained nearly 1.5% in the past month. They extended their buying streak in capital goods stocks for the eighth consecutive month, lapping up shares worth Rs 3,569 crore in the first half of September.