HSBC’s Indian technology and operations company has taken about 2.03 lakh sq ft of office space at Phoenix Avance Business Hub in Hyderabad’s HITEC City and Gachibowli corridor. HSBC Electronic Data Processing India Private Limited sublet the entire Level 8 and Level 9 office floors of building H09 from Executive Centre India Limited, a super built up area of 203,755 sq ft and a carpet area of 130,802 sq ft. The deal was registered on June 30, 2026, and the term of four years and seven months began on July 1.
HSBC is a London headquartered banking group founded in 1865 and one of the largest banking and financial services organisations in the world. India is home to its biggest Global Service and Technology Centres.
What the centre will do
The floors add capacity for the entity that runs HSBC’s technology and business operations in the city. Monthly rent is ₹6.42 crore, or about ₹315 per sq ft, rising 5% a year, for a total of roughly ₹388 crore over the term. HSBC paid a security deposit of ₹38.51 crore and took 250 paid parking spaces. It also moved in early, paying for temporary use of the floors in June 2026 ahead of the formal start.
Why Hyderabad
Hyderabad is one of the three cities, with Pune and Bengaluru, where HSBC Technology India runs its in house centres. The HITEC City and Gachibowli belt is the core of the city’s technology district, and taking ready space from a managed office operator let the bank occupy the floors within weeks rather than waiting for a new build. See our list of GCCs in Hyderabad.
HSBC’s India footprint
HSBC’s roots in India go back to 1853, when the Mercantile Bank of India was founded in Mumbai; HSBC bought it in 1959. HSBC Technology India was founded in 2002 and now has more than 23,000 professionals, and across the group more than 40,000 HSBC colleagues in India support the bank’s global businesses. In July 2026 HSBC also signed a letter of intent with Prestige Group for an integrated campus of about 1.2 million sq ft at Prestige JRC Signature Towers on Bengaluru’s Outer Ring Road, which would bring together staff now spread across several sites in that city, subject to final agreements and approvals.
What it signals
Two large moves in a single month, a quick sublease in Hyderabad and a planned campus in Bengaluru, show HSBC adding space in more than one Indian city at once. Paying a premium for ready floors suggests the bank needed room in Hyderabad sooner than a conventional lease would allow, and it adds to the steady flow of global banks deepening their technology bases in the city.
At a glance
- Home country: United Kingdom
- Sector: Banking and Financial Services
- City: Hyderabad
- Date: July 2026
- Status: Expansion of an existing centre
- Scale: About 2.03 lakh sq ft super built up area at Phoenix Avance Business Hub, term of four years and seven months
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