Genpact has leased nearly 4 lakh sq ft of office space from ASF Group, a developer of build-to-suit IT infrastructure and commercial buildings, at ASF Insignia in Gurugram, the real estate company said on September 16.
The long-term deal is valued at around ₹420 crore to ₹450 crore, sources told Hindustan Times Real Estate.
The information technology giant is expected to take possession and commence operations in Q2 2027. The facility is expected to accommodate approximately 5,000–8,000 employees or seats and support 24×7 operations, ASF Group said.
The transaction will see Genpact occupy an exclusive tower at Kings Canyon, one of the marquee buildings within ASF Insignia, the real estate firm said in a statement.
The transaction marks one of the largest office leasing transactions in the NCR by scale and lease commitment, further reinforcing the region’s position as a preferred destination for large enterprises and global capability-driven operations, it said.
“The transaction highlights the growing demand from large enterprises for Grade A, scalable and integrated office environments that combine workplace quality with operational efficiency. ASF Insignia’s campus infrastructure, scalability and location, and its employee-centric amenities position it to meet the requirements of organisations operating at significant scale,” said Aanchal Saraf Aggarwal, director, ASF Group.
Spread across approximately 50 acres, ASF Insignia is an integrated commercial IT office campus offering approximately 4.5 million sq. ft. of premium office space across its marquee buildings, Kings Canyon, Grand Canyon and the upcoming Black Canyon. It is home to technology companies, global capability centres and large enterprises.
Designed as a walk-to-work ecosystem, the campus offers a combination of bonded SEZ space, de-bonded SEZ space and commercial IT park facilities within a single integrated development.
ASF Group is a Delhi-based developer specialising in build-to-suit IT infrastructure and commercial buildings, with more than 5 million sq. ft. of workspaces delivered across Northern India.
Genpact could not be reached for a comment.
Earlier, Smartworks had leased approximately 450,000 sq ft space in ASF Campus.
Office leasing trends in Delhi-NCR market
In H1 2026, Delhi NCR recorded gross office leasing of 7.2 million sq ft, matching the record-high volume achieved in H1 2025 and marking the highest level of leasing ever recorded in a half-year period, as per a report by Knight Frank India. The sustained momentum underscores the market’s resilient occupier demand despite a dynamic business environment.
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In terms of leasing activity by micro-market, Gurugram continued to lead Delhi-NCR in H1 2026, accounting for 45% of total gross leasing volume. However, its share declined from 65% in H1 2025 as occupier demand became more geographically diversified across the region. Noida emerged as the biggest gainer, increasing its share of leasing activity to 39% from 24% during the same period last year. SBD Delhi retained its position as the third-largest office market by transaction share, accounting for 15% of total leasing volumes, up from 8% in H1 2025.
Looking ahead, Delhi NCR’s office market is well-positioned to sustain its growth momentum, supported by the continued expansion of multinational corporations, domestic enterprises, Global Capability Centres (GCCs), and flexible workspace operators, the report said.
