FedEx Express Transportation and Supply Chain Services India Private Limited has leased 1.19 lakh sq ft of office space in the Phoenix Centaurus building in Hyderabad, bringing its total occupancy in the commercial development to 3.70 lakh sq ft, according to documents accessed by Propstack.
The landlord for the transaction is Athena Global Technologies Limited. The lease commenced on July 29, 2026, at a monthly rent of ₹78 per sq ft.
The monthly rent works out to ₹93.2 lakh, while the total rent payable over the five-year lease term is ₹55.6 crore, according to the documents.
FedEx has paid a security deposit of ₹8.39 crore. The lease agreement provides for a 15% rent escalation every three years.
With the latest transaction, FedEx’s office occupancy at Phoenix Centaurus has increased to around 3.7 lakh sq ft, underscoring the company’s continued presence at the Hyderabad commercial development.
The lease comes amid sustained demand for large office spaces from global companies and multinational occupiers in Hyderabad, particularly across established commercial hubs.
{{/usCountry}}The lease comes amid sustained demand for large office spaces from global companies and multinational occupiers in Hyderabad, particularly across established commercial hubs.
{{/usCountry}}FedEx could not be reached for comment.
Other transactions by FedEx
According to Propstack, FedEx leased 1.25 lakh sq ft on the 16th floor at ₹58 per sq ft per month in July 2025.
Earlier, in June 2024, the company leased 69,871 sq ft on the fifth floor at ₹62 per sq ft per month. It had also leased 55,538 sq ft on the fifth floor at the same rate of ₹62 per sq ft per month in October 2023.
In August this year, Canadian Imperial Bank of Commerce (CIBC), had leased around 1.21 lakh sq ft of managed office space in Hyderabad for its global capability centre (GCC) for five years, with the total rent estimated at around ₹180 crore, according to property registration data accessed through Propstack.
Hyderabad office market
Hyderabad has around 515 Global Capability Centres (GCCs), and 50-70 more will be set up within a year, as the city offers a huge talent pool and cost advantage to foreign companies, according to a FICCI and Anarock report released in September this year.
Industry body FICCI and property consultant Anarock have come up with a joint report titled 'Hyderabad: The Rise of a Global Capability Powerhouse'. The report highlighted that there were around 515 GCCs in Hyderabad as of March 2026, employing more than 3 lakh people. Hyderabad accounts for around 20 per cent of the total GCCs in India, transforming the city from a cyber city to the GCC hub.
The report noted that GCCs have become a key driver of demand for Hyderabad's office market. The leasing of office space by foreign firms to set up GCCs rose to 4.5 million sq ft in 2025 from 1.9 million sq ft in 2021. In the first six months of this year, the number has crossed 3 million sq ft.