India's real estate market is increasingly showing two distinct trends. While the residential segment faces a more cautious environment amid affordability pressures and the risk of slowing sales velocity, commercial real estate is benefiting from robust leasing demand, falling vacancies and the rapid expansion of Global Capability Centres (GCCs).
Ambit Capital expects the managed-office model to remain particularly attractive. The brokerage estimates the flex workspace segment could grow at more than 25% CAGR by CY27, compared with 6-7% growth for the broader office market. It prefers WeWork India and Smartworks, followed by IndiQube and Awfis, citing enterprise-led demand, higher occupancies and lower asset-liability management risk.