Charles Schwab Leases 3.45 Lakh Sq Ft Office Space in Hyderabad

• 3.45 lakh sq ft office space leased at Phoenix Equinox Tower, Gachibowli

• Monthly rent fixed at ₹3.73 crore for a five-year lease term

• New capability centre expected to create around 3,000 jobs

Hyderabad: US-based financial services firm Charles Schwab has leased approximately 3.45 lakh square feet of office space in Hyderabad, marking a major expansion of its operations in India. The company will pay a monthly rent of about ₹3.73 crore for the office space, according to property documents accessed by Propstack.

The leased office is located at Phoenix Equinox Tower 2 in Gachibowli, one of Hyderabad’s prime IT and business districts. The property is owned by Phoenix IT City Private Limited, a well-known developer of commercial office spaces in the city.

As per the lease agreement, Charles Schwab Services India Pvt Ltd has taken the space across floors 10 to 14, covering around 345,426 sq ft. The lease has been signed for a five-year period, with rentals set at roughly ₹108 per square foot per month.

The deal also includes a security deposit of nearly ₹25.28 crore, while the rental payments will increase by 5% annually during the lease period.

Although the official lease commencement date is October 1, 2025, the rent will start in phases. Phase I payments will begin in April 2026, followed by Phase II from July 2026, according to the lease documents.

The office space will support Charles Schwab’s newly established entity in India, Charles Schwab Services India Private Limited, which will operate as a Global Capability Centre (GCC).

The Hyderabad centre will handle a wide range of services including IT support, software development, financial management, business process outsourcing (BPO), knowledge process outsourcing (KPO), and AI-related services.

Industry experts say the move reflects Hyderabad’s growing reputation as a preferred destination for global capability centres.

According to Raja Seetharaman, co-founder of Propstack, Charles Schwab’s expansion could generate nearly 3,000 jobs within the next two years. He also noted that Hyderabad has been witnessing rapid growth in GCC investments, increasingly competing with and even surpassing Bengaluru in attracting new captive centres.

The development further strengthens Hyderabad’s position as one of India’s fastest-growing commercial real estate markets, driven by demand from global technology, finance, and consulting companies.

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