India | May 2022

SP OT LI GH T
Tech-Towns of
Savills Research
the Future

FOREWORD
India is the world’s principal IT-BPM
destination with one of the largest
qualified talent pools of technical
graduates in the world.1 The demand
for qualified IT-BPM professionals has
increased significantly over the years.2
Digital skills, especially skills related
to AI, data science, cloud computing,
information security, and blockchain,
are highly sought after due to the
expediting digitisation and automation
of businesses. In 2021, the demand for
high value skill sets such as AI, big data
analytics and IoT exceeded the supply
by over 50%.3 IT services in the
country have come a long way from
the initial days of pure voice-based
support systems to highly complex
business enabling systems.
India is quite favorably positioned due
to its inherent geographical advantage,
demographic edge, language skills and
various initiatives taken by all key
stakeholders including central and
state governments over the decades.
Frameworks and regulations
facilitating the set-up of IT SEZs and
STPIs have contributed to the success
story of the now behemoth IT-BPM
industry in the country. The sector
contributed to almost 8% of India’s
GDP in 2020. 4 Interestingly, lower
office rentals in key micro markets of
major Indian cities, as compared to
global cities and relatively inexpensive
Draup, Futureskills and NASSCOM report on India’s Tech Industry Talent
1,2,3.
4.
IBEF
SEZ: Special Economic Zone
STPI: Software Technology Parks of India
savills.in
Tech-Towns of The Future
skilled talent pool have played a
pivotal role in offshore companies
setting up their presence and
establishing crucial business verticals
in India.
Starting with Bengaluru, IT-BPM
activity in India is largely centred in
the metro cities of the country such as
Chennai, Delhi-NCR, Hyderabad,
Kolkata, Mumbai and Pune. However,
with rapid urbanisation and expansion
of the IT-BPM industry, tier II and III
cities with a million plus population,
equally strong availability of talent
pool and scope for cost arbitrage are
gaining prominence. Improved digital
infrastructure across the country and
the concept of ‘Work from Home/
Anywhere’ have catapulted these tier
II and III cities into the thick of IT-
BPM action.
Savills India Research has performed a
rigorous statistical analysis and
clustered these upcoming hotspots
into ‘Challenger’ and ‘Emerging’
cities. In addition to presenting the
results of the analysis in a simplistic
and comprehensible manner, the
report provides a glimpse into the
potential, driving factors and real
estate implications of the IT-BPM
sector in the country.
2 3
Tech-Towns of The Future
IT-BPM POTENTIAL
The IT-BPM industry contributed to around Revenue of Indian IT-BPM industry*
8% of the country’s GDP in 2020.5 Revenues
continue to grow at about 10% per annum
- two or three times faster than the global tech USD
industry. Moreover, as of FY 21, it provided
employment to 4.7 million people including 300-350 Bn
opportunities in core tech, digital and
non-tech roles.6
USD
The sector has a proven track record of
190 Bn
successfully navigating challenges of vast USD
magnitudes. Be it the dot-com bubble burst or
132 Bn
the global financial meltdown, the industry
has emerged stronger on the other side.
Beginning in 2020, the COVID-19 pandemic
brought with itself its own share of trials and
tribulations. Taking help of past learnings, the
industry, riding on the back of increased tech
spending, accelerated tech adoption and
digital transformation, remained
7.5% 10-12%
exceptionally resilient. Although key industry
CAGR
segments were earmarked by conscious
CAGR
downsizing of employees, the IT-BPM sector
in FY 22 has witnessed approximately 0.5 mn
2015 2020 2025E
new net hires.7 Also, the share of digital
revenues in the sector grew by 25% as Source: NASSCOM
compared to FY 21.8 *Does not include e-commerce revenues
Swift and wide-scale remote working
adoption of one of the world’s largest IT
workforces, while maintaining quality output Impact of COVID-19 pandemic on Indian IT-BPM industry
simultaneously is a testament to the strong
response of the sector. As vaccination
coverage improved in the country throughout
Moderate impact (3-5%) on workforce
2021, employees and companies embraced a
hybrid model combining the best of the work in terms of COVID-19 infections
from office and work from anywhere models.
For instance, domestic IT giants have
remained committed to a hybrid work model
such as the 25/25 model which encourages
people to work remotely in the long term.9
Interestingly, coworking operators, taking Minimal impact (1-3%) on organisation’s
cognizance of the dynamic work culture financials despite moderate workforce
across organisations are increasing their
impact
footprint across tier II and III cities of the
country.10
Having traversed through the ongoing
pandemic with success, the industry is poised
to reach a USD 300-350 Bn size by 2025.11 With No to minimal impact on business
increased investments in the sector and rapid
adoption of technology by enterprises in the
operations and client work delivery/
country, the IT BPM industry is on a positive service levels
hiring trajectory and is expected to touch an
employee base of 10 million in next five
years.12 Source: NASSCOM
5.
IBEF
6,7.
Draup, Futureskills and NASSCOM report on India’s Tech Industry Talent
8, 11.
NASSCOM
9.
https://www.livemint.com/companies/news/tcs-ends-work-from-home-offices-to-reopen-from-next-week-all-you-need-to-know-11636896831264.html
10.
https://www.thehindubusinessline.com/news/real-estate/co-working-space-find-a-space-in-smaller-towns/article35149186.ece
12 .
https://economictimes.indiatimes.com/jobs/it-bpm-industry-to-add-3-75-lakh-jobs-in-fy22-report/articleshow/88167025.cms
 Tech-Towns of The Future Tech-Towns of The Future

COMMERCIAL REAL BEYOND THE TIER I CITIES

ESTATE IMPLICATIONS
The growth of commercial real estate and the success of the IT-BPM sector in India have
been synonymous throughout the last decade. The inter-play of the sector and
commercial office space continues to be strongly evident in the current decade shaped by
the ongoing pandemic.
The sector has been instrumental in taking up large office spaces across the country. As
per Savills India Research estimates, in the last five years, the commercial office market of
the country registered an average of 43 mn sq. ft. of leasing activity. Of these, large-sized
transactions (100,000 sq.ft. or more) contributed at least half of the absorption in each
year. Interestingly, the IT-BPM sector has constituted 50-60% of these large-sized
transactions throughout the last five years.
Office Leasing Driven by IT-BPM Sector
60
50
Various factors are expected to expedite the makers. In fact, coworking operators are best
emergence of these smaller IT-BPM hotspots. The placed to capitalise on the dynamic real estate
current business environment and the way requirement of occupiers from the IT-BPM sector.
organisations function have been transformed to Moreover, vastly improved internet and digital
such an extent that the ‘New Normal’ shaped by infrastructure across the country has resulted in
the ongoing pandemic is starkly different from the the preference of employees working from their
world even a decade ago. Although employees of hometowns. Working from cities beyond the
leading MNCs including domestic IT-BPM giants metros provides them the additional benefit of
are increasingly returning to offices, company comparative affordability and ease of living.
policies have been amended to reflect higher
Subsequent sections in this report depict the
adoption of staggered shifts and remote working.
approach and method of the statistical model used
When analysed in conjunction with the cost
by Savills India Research in zeroing in on the next
benefit organisations derive from expansion of
wave of IT-BPM hotspots in the country.
physical offices in smaller urban centres, the
Clustering of results provides a sense on the
extension of the IT-BPM hotspots in centres
potential locations likely to complement the
60% beyond the metros is certain. Developers, taking
already established IT-BPM centres.
cognizance of occupiers embracing tier II and III
cities, have infused high quality office spaces in
50%
cities on the radar of real estate portfolio decision

40 40%

30 Driving Factors for the Next Wave of IT-BPM Hotspots

30%

20 20%

10 10%
Preference of Acceptability of Expansion of
0 0%
2017 2018 2019 2020 2021 employment ‘Work from Home/ coworking
Office Space Gross Absorption in mn sq. ft. (LHS) IT-BPM Share (RHS) opportunities in Anywhere’ operators in tier
Source: Savills India Research hometowns phenomenon II and III cities

With the IT-BPM sector well placed to hire Cumulative Gross Office Space Leasing by IT-BPM Sector in Next 5 Years
more than 5 million employees across the
country in the next five years,13 Savills India
Research estimates a cumulative space uptake
of 80-120 mn sq. ft. by the segment in grade A
office buildings including coworking spaces. Comparative ease
Given the fact that the ongoing pandemic has Realistic Optimistic Cost arbitrage from Vastly improved of living and
Pessimistic
firmly established the trend of ‘Working from Case Case Case an employer internet and digital affordability in

80 100 120
Anywhere’, and the relocation of significant
perspective infrastructure smaller urban
talent base to their hometowns, we envisage across the country
companies from the sector will take
centres
advantage of real estate arbitrage in the
smaller cities of the country and expand their mn sq. ft. mn sq. ft. mn sq. ft.
operations in these cities. This in turn will
fast-track the emergence of the next wave of
IT-BPM hotspots in the country.
Government
Savills India Research has performed a Improvement in incentives in setting Relatively less
comprehensive statistical analysis and
80% Uptake in Established IT-BPM Locations ease of doing up large campuses stress on existing
presented these cities as clusters namely
‘Challenger Cities’ and ‘Emerging Cities’. business across in locations with social infrastructure
Finer aspects of the statistical approach and 20% Uptake in Tier II & III Locations various states of the maximum upside in smaller economic
city clusters are explained in detail in the country potential hubs
subsequent sections. Source: Savills India Research

13.
https://economictimes.indiatimes.com/jobs/it-bpm-industry-to-add-3-75-lakh-jobs-in-fy22-report/articleshow/88167025.cms Source: Savills India Research

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 Tech-Towns of The Future Tech-Towns of The Future

METHODOLOGY
Flow chart of methodology
For identifying the potential hotspots of economic activity. Locations such as Bengaluru, their business. We have included the following
IT-BPM activity, Savills India Research first Chennai, Delhi-NCR, Hyderabad, Kolkata, primary parameters in our in-depth analysis:
drew a comprehensive and all-inclusive list of Mumbai and Pune, which already have a 01
Drawing a universe of
• Infrastructure
more than 100 cities spread across the country. thriving IT-BPM ecosystem, were deliberately candidate cities
This universe was then pruned down to a excluded. • Human Capital
long-list of 79 cities on the basis of a ‘Binary: Go
Simultaneously, in-house experts developed a • Costs
vs No-Go Test’. • Industry
‘Parameter-Weight Matrix’ comprising primary Pruning the universe to a
The long-list was then further trimmed down to parameters that are usually evaluated by • Vulnerabilities & Risks 02
a short-list of 33 cities on the basis of companies from the IT-BPM sector while short-list of 33 cities
population, infrastructure and level of selecting a particular city to set up or expand

Developing the primary and

Each primary parameter was further categorised into secondary parameters to reflect the key decision-making criteria 03
secondary parameters
more precisely. A glimpse of the secondary parameters against each primary parameter is given below.

04 Assigning weights

Data collection and synthesis,

05
interviews and research
Infrastructure Human Costs Industry Vulnerabilities
Capital & Risks
Statistical Z-Score based analysis
• Uninterrupted power • Technical workforce • Rental expense • Existing companies • Natural hazard 06
supply high speed availability from the IT-BPM resilience
on parameter-weight matrix
• Manpower cost
internet • Number of industry • Safety and security
• Mobility (air/rail/ universities • Business opportunity
road) • Senior secondary
• Availability of education quality
07 Clustering IT-BTM hotspots
high-quality office • English-speaking
space proficiency Source: Savills India Research

• Quality of life and

cost of living For in-depth analysis of each secondary parameter, a statistical test was
performed. This helped the team gain a sense on the performance of these 33
Note: Extensive data collection through primary and secondary research was conducted for each of the 33 cities in the short-list. cities across the key primary parameters such as human capital, infrastructure,
Subjective expert opinions were also considered and deemed necessary at relevant places. costs and industry. This list includes leader cities such as Bengaluru, Chennai,
Delhi-NCR, Hyderabad, Kolkata, Mumbai, Navi Mumbai, Pune and Thane
which already have a thriving IT-BPM ecosystem.
In a real-world scenario, the parameters and weights can vary to a certain
extent depending on a variety of factors including organisation goals, culture
and philosophy. Thereafter, the final list of cities was zeroed in on and clustered
on the basis of the overall score instead of following an absolute score or
rank-based approach. Cities within a cluster are equally strong candidates for
becoming the next big hotspot of IT-BPM activity in the country.
Cluster of Challenger Cities: These cities are already witnessing IT-BPM
centric economic activity to a certain extent. The ecosystem for growth of such
companies is already existent and set for further maturity in the near term.
Savills India Research expects these cities to be preferred by MNCs as well as
domestic companies while executing a phased expansion plan.
Cluster of Emerging Cities: These cities have a nascent IT-BPM ecosystem
currently. However, Savills India Research expects the interplay of factors such
as talent availability, rental costs, infrastructure etc. to get stronger in the mid
to long term. The Emerging cities are likely to gain prominence in the next 5-10
years.

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 Tech-Towns of The Future Tech-Towns of The Future

OUTCOME

Short-list of hotspots

01 NORTH INDIA 04 EAST INDIA

• Chandigarh • Bhubaneshwar
• Delhi • Guwahati
01 • Gurugram • Jamshedpur
• Jaipur • Kolkata
• Kanpur
• Lucknow
• NOIDA

02 SOUTH INDIA 05 CENTRAL INDIA

• Bengaluru • Bhopal
• Chennai • Indore
• Coimbatore
• Hyderabad
• Kochi
• Mangaluru
05 04
03 • Mysore
• Thiruvananthapuram
• Trichy
• Vijayawada
• Vishakhapatnam

03 WEST INDIA
• Ahmedabad
• Nagpur
• Navi Mumbai
• Mumbai
• Panaji
• Pune
02 • Surat
• Thane
• Vadodara

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 Tech-Towns of The Future Tech-Towns of The Future

Clustering of cities
Already Established Locations
LEADERS
While the leader cities are already established
The Next Big Hotspots IT-BPM hotspots and have high availability of
skilled talent and robust supporting
infrastructure, they are relatively expensive
CHALLENGERS EMERGING when evaluated on pure financial parameters
such as real estate and manpower costs.
Challenger cities enjoy a symbiotic association
with these leader cities and are already
witnessing significant IT-BPM activity.
Emerging cities on the other hand are expected
to be the next big potential hotspots in the
medium to long term. Advent of remote working
and interest of developers and coworking
operators to build quality office stock
capitalising on low real estate costs are critical
in the growth story of these challenger and
emerging cities.

Bengaluru Ahmedabad Bhubaneshwar Comparing the clusters

Chennai Bhopal Panaji
Delhi Chandigarh Guwahati
Gurugram Coimbatore Jamshedpur LEADERS CHALLENGERS EMERGING
Hyderabad Indore Lucknow
Kolkata Jaipur Mangaluru
Availability of High High-Medium Medium
Mumbai Kanpur Vijayawada skilled talent
Navi Mumbai Kochi
NOIDA Mysore
Pune Nagpur
Avenues and quality High High-Medium Medium
Thane Surat of education
Thiruvananthapuram
Trichy
Vadodara Power, internet and Robust Strong Requisite
Vishakhapatnam transport infrastructure

Currently limited
Presence of Adequate Reasonable in (However, attractive
Grade-A office stock specific pockets for coworking
operator expansion)

Source: Savills India Research

Real estate and

High Moderate Low
manpower costs

Witnessing
Expected timeline for Already considerable 5-10
gaining prominence Established IT-BPM activity years
in recent years

Source: Savills India Research

Representative scale (5-1) with 5 being the most enabling and 1 being the least enabling factor for development of IT-BPM industry
Availability of skilled talent: High, High-Medium, Medium, Medium-Low, Low
Avenues and quality of education : High, High-Medium, Medium, Medium-Low, Low
Power, internet and transport infrastructure: Robust, Strong, Requisite, Inadequate, Poor
Presence of Grade-A office stock: Adequate, Adequate- Reasonable, Reasonable, Reasonable-Limited, Limited
Real estate and manpower costs: Low, Low-Moderate, Moderate, Moderate-High, High

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 Tech-Towns of The Future Tech-Towns of The Future

Geographical Spread of Leader, Challenger

and Emerging Cities
State and Region-Wise Performance of the Established and Next Big Hotspots

Cities from the south LEADER CITIES • The strong presence of few
and west of the country Bengaluru
dominate the list of Chennai states in the list of emerging
Delhi and challenger cities indicate
challenger and Gurugram
emerging cities. Almost Hyderabad the importance of an already
60% of the cities are Kolkata
concentrated in the Mumbai established IT-BPM location in
region Navi Mumbai a region. These cities also
NOIDA
Pune benefit from inter-state talent
Thane migration and existing power
as well as internet
infrastructure of respective
states.

• For instance, Ahmedabad,

Surat, Vadodara and Nagpur
draw strength from mature
IT-BPM destinations like
Mumbai, Navi-Mumbai, Thane
and Pune. All the southern
cities benefit from the presence
of Bengaluru, Hyderabad and
Chennai.

• Cities in Gujarat, especially

Ahmedabad, have a
demonstrated strength of
attracting MNCs and
Gujarat has CHALLENGER & EMERGING CITIES corporates. This is reflected in
maximum the ease of operating a
representation NORTH INDIA EAST INDIA
Chandigarh Bhubaneshwar business from these cities.
of 3 cities in the Jaipur Guwahati Karnataka and Tamil Nadu have
list of emerging Kanpur Jamshedpur
and challenger Lucknow equally strong government
cities policies attracting companies
WEST INDIA CENTRAL from the IT-BPM sector.
Ahmedabad INDIA
Nagpur
Panaji Bhopal
Surat Indore
• Karnataka, Tamil Nadu, Uttar
Vadodara Pradesh and Madhya Pradesh
4 states in the southern all have high availability of
SOUTH INDIA
part of the country have Coimbatore home-grown skilled talent.
2 representations each in Kochi Moreover, with steady adoption
the list of emerging and Mangaluru
Mysore of remote working, the talent
challenger cities Thiruvananthapuram pool in these states will prefer
Trichy
Vijayawada working from urban centres
Source: Savills India Research Vishakhapatnam closer to their hometowns.

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 Tech-Towns of The Future Tech-Towns of The Future

PRIMARY PARAMETER AFTERWORD

ANALYSIS
While the overall score and final clustering of cities into
Challenger and Emerging locations is critical, the analysis
of cities on the basis of key primary parameters is also
quite interesting.
• Only 3 cities, Bhopal, Coimbatore and Trichy, feature in
the top 10 list across infrastructure, human capital,
costs and industry
• 8 cities, Bhubaneshwar, Chandigarh, Guwahati,
Lucknow, Mysore, Panaji, Vadodara and Vijayawada,
feature in the top 10 list of only one primary parameter
Top 10 Cities Across Key Primary Parameters
• Certain other cities score extremely well on few
parameters while not as well on the others. These cities
can be selected for expansion by an IT-BPM company
purely on the basis of their strengths or avoided because
of their drawbacks
The primary parameter analysis clearly reflects that
certain companies from the IT-BPM sector can prioritise
expansion into select cities on the basis of factors more
relevant to them. However, the overall clustering of cities
into Challenger and Emerging locations stresses on a
more balanced and industry wide shift to smaller centres.
Rapid urbanisation and infrastructure upgrade in extended urban
agglomerations of tier I cities of the country have resulted in the equitable
distribution of economic centres in the central, suburban and peripheral
business districts of a city. Although established IT-BPM hotspots
including their urban extensions will continue to remain the epicentre of
such business activity, challenger and emerging cities are pivotal for
shaping the industry in the current decade and in years beyond 2030. A
multitude of factors, including the migration of skilled talent to their
hometowns during the initial months of the COVID-19 pandemic, is
critical in the evolution of tier II and III cities as supplementary
ecosystems to the already established IT-BPM locations.
The gradual rise of smaller yet significant centres of economic activity is
reflected in new setups and expansion announcements by multinationals
and government initiatives to champion the case of the potential of
IT-BPM hotspots even during the ongoing pandemic. For instance, a
domestic IT giant has recently signed a pact with a state government to set
up an Innovation Park including a campus for electronics hardware & ITeS
services in a tier II city. The park entails an investment of INR 700 cr and
strives to create around 10,000 employment opportunities when fully
operational.14
All in all, tier II and III cities are likely feature prominently in a world
finely balanced in terms of employee safety and wellness, return to offices
in calibrated measures, increased adoption of remote work through
enterprise-level digital transformation and cost benefit analysis in real
estate portfolio allocations.

INFRASTRUCTURE HUMAN CAPITAL COSTS INDUSTRY

Ahmedabad Bhopal Bhopal Ahmedabad
ABBREVIATIONS &
ACRONYMS
Bhopal Coimbatore Bhubaneshwar Coimbatore

Chandigarh Indore Coimbatore Indore

Coimbatore Jaipur Guwahati Jaipur

Kochi Jamshedpur Indore Kochi AI: Artificial Intelligence

CAGR: Compounded Annual Growth Rate
Nagpur Kanpur Jamshedpur Lucknow
GDP: Gross Domestic Product
Panaji Mangaluru Kanpur Mangaluru MNC: Multi-National Company
NASSCOM: National Association of Software and Services Companies
Thiruvananthapuram Nagpur Mangaluru Mysore
NCR: National Capital Region
Trichy Thiruvananthapuram Trichy Nagpur INR: Indian Rupee
IT-BPM: Information Technology-Business Process Management
Vadodara Trichy Vijayawada Trichy SEZ: Special Economic Zone
STPI: Software Technology Parks of India
Source: Savills India Research
USD: United States Dollar
* Cities are indicated alphabetically and not in order of ranks

14.
https://www.newindianexpress.com/business/2021/sep/17/big-win-for-
kerala-as-tcs-signs-pact-for-rs-700-cr-investment-in-kochi-2360205.htmlcms

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Authors Central Management Regional Management

Suryaneel Das Anurag Mathur Bhavin Thakker
Assistant General Manager Chief Executive Officer Managing Director - Mumbai
Research & Consulting Savills India Head - Cross Border Tenant Advisory
suryaneel.das@savills.in anurag.mathur@savills.in bthakker@savills.in
Megha Maan Kaustuv Roy Sarita Hunt
Director Managing Director Managing Director
Research & Consulting Business Solutions Bengaluru
megha.maan@savills.in kaustuv.roy@savills.in sarita.hunt@savills.in
Diksha Gulati Naveen Nandwani Shweta Sawhney
Senior Manager Managing Director Managing Director
Research & Consulting Commercial Advisory & Transactions Delhi-NCR
diksha.gulati@savills.in naveen.nandwani@savills.in shweta.sawhney@savills.in
Arvind Nandan Praveen Apte
Managing Director Managing Director
Research & Consulting Media Queries Pune
arvind.nandan@savills.in praveen.apte@savills.in
Nitin Bahl
Director Anup Vasanth
Marketing, Sales and Strategy Managing Director
nitin.bahl@savills.in Chennai
anup.vasanth@savills.in
Sesha Sai
Managing Director
Hyderabad
sesha.sai@savills.in

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