CG Offices, which operates across carbon consulting, managed office and design-and-build, has doubled revenue year-on-year to Rs 28 crore and is targeting Rs 100 crore over the next two years.
The company, with 14 clients, is seeing a clear shift in demand from occupiers seeking cleaner, sustainability-led office environments. It is also preparing to broaden its GCC-focused offerings with an adjacent capability that would deepen its role in the occupier decision cycle.
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"We started by helping clients think about carbon more strategically, but the opportunity has clearly expanded into building and operating better workplaces. Over the next five years, the roadmap is to scale CG Offices into a full-stack workplace partner across consulting, managed offices and design-build, with deeper GCC capabilities and a stronger national footprint,” said Vibhor Jain, founder and CEO of CG Offices.
India's office market has continued to show resilience despite geopolitical tensions and input cost inflation. JLL pegs average fit-out costs at Rs 5,788 per sq ft — up 4.5% year-on-year — with Mumbai the most expensive at Rs 6,588 per sq ft, followed by Delhi at Rs 6,068.
Cushman & Wakefield puts Mumbai at Rs 6,567 and Delhi at Rs 6,207, while noting 77% of contractors expect pricing to rise further. Both firms point to a flight-to-quality trend keeping occupier sentiment firm despite higher costs.
JLL's APAC Fit-Out Cost Guide 2025 found 72% of cost management leads reporting higher demand for sustainable fit-outs, with organisations prioritising technology and wellness features. In Q4 2025, green-certified assets accounted for 93% of newly completed office space and 75% of leasing activity.
Large corporates and GCC occupiers are showing greater readiness to absorb higher upfront costs for energy-efficient systems, low-carbon materials, better indoor air quality and certification-linked upgrades, arguing that ESG-compliant workplaces help future-proof portfolios and align Indian offices with global reporting mandates.
Much of the upgrade in office quality is being driven by something more immediate than ESG compliance — the fight for talent. GCCs, competing with domestic tech firms and global employers for a finite pool of skilled professionals, are using workplace experience as a differentiator.
Biophilic design, concierge-style amenities and activity-based working layouts are no longer perks but increasingly baseline expectations in Bengaluru, Hyderabad and Pune's GCC corridors. For workplace specialists, this translates into briefs that are more complex, more bespoke and higher in value.
Alongside the quality shift, a quieter structural change is reshaping how occupiers procure workplace services. Historically, a fit-out project involved separate mandates for sustainability consultants, interior designers and project managers — often with coordination gaps and accountability diffusion. Increasingly, large occupiers, particularly GCCs with standardised global mandates, are consolidating these into a single integrated partner.
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“CG Offices' planned expansion into an adjacent GCC capability fits squarely into this trend — extending its footprint from delivery into earlier stages of the occupier decision cycle, where relationships and revenue are stickier,” Jain said.
Workplace technology and fit-out services firms have seen growing interest from growth-stage and PE investors looking for plays on India's commercial real estate upcycle without direct asset exposure. While deal activity in this sub-sector remains early-stage, the underlying metrics — recurring revenue from managed-office contracts, high switching costs and a fragmented competitive landscape — fit the profile that growth investors have been seeking.
The company, with 14 clients, is seeing a clear shift in demand from occupiers seeking cleaner, sustainability-led office environments. It is also preparing to broaden its GCC-focused offerings with an adjacent capability that would deepen its role in the occupier decision cycle.
Also Read: County Group's rescue drive in Gurgaon to unlock Rs 4,000 crore potential
"We started by helping clients think about carbon more strategically, but the opportunity has clearly expanded into building and operating better workplaces. Over the next five years, the roadmap is to scale CG Offices into a full-stack workplace partner across consulting, managed offices and design-build, with deeper GCC capabilities and a stronger national footprint,” said Vibhor Jain, founder and CEO of CG Offices.
India's office market has continued to show resilience despite geopolitical tensions and input cost inflation. JLL pegs average fit-out costs at Rs 5,788 per sq ft — up 4.5% year-on-year — with Mumbai the most expensive at Rs 6,588 per sq ft, followed by Delhi at Rs 6,068.
Cushman & Wakefield puts Mumbai at Rs 6,567 and Delhi at Rs 6,207, while noting 77% of contractors expect pricing to rise further. Both firms point to a flight-to-quality trend keeping occupier sentiment firm despite higher costs.
JLL's APAC Fit-Out Cost Guide 2025 found 72% of cost management leads reporting higher demand for sustainable fit-outs, with organisations prioritising technology and wellness features. In Q4 2025, green-certified assets accounted for 93% of newly completed office space and 75% of leasing activity.
Large corporates and GCC occupiers are showing greater readiness to absorb higher upfront costs for energy-efficient systems, low-carbon materials, better indoor air quality and certification-linked upgrades, arguing that ESG-compliant workplaces help future-proof portfolios and align Indian offices with global reporting mandates.
Much of the upgrade in office quality is being driven by something more immediate than ESG compliance — the fight for talent. GCCs, competing with domestic tech firms and global employers for a finite pool of skilled professionals, are using workplace experience as a differentiator.
Biophilic design, concierge-style amenities and activity-based working layouts are no longer perks but increasingly baseline expectations in Bengaluru, Hyderabad and Pune's GCC corridors. For workplace specialists, this translates into briefs that are more complex, more bespoke and higher in value.
Alongside the quality shift, a quieter structural change is reshaping how occupiers procure workplace services. Historically, a fit-out project involved separate mandates for sustainability consultants, interior designers and project managers — often with coordination gaps and accountability diffusion. Increasingly, large occupiers, particularly GCCs with standardised global mandates, are consolidating these into a single integrated partner.
Also Read: Inorbit malls to acquire Prozone Group malls in Chhatrapati Sambhaji Nagar, Coimbatore
“CG Offices' planned expansion into an adjacent GCC capability fits squarely into this trend — extending its footprint from delivery into earlier stages of the occupier decision cycle, where relationships and revenue are stickier,” Jain said.
Workplace technology and fit-out services firms have seen growing interest from growth-stage and PE investors looking for plays on India's commercial real estate upcycle without direct asset exposure. While deal activity in this sub-sector remains early-stage, the underlying metrics — recurring revenue from managed-office contracts, high switching costs and a fragmented competitive landscape — fit the profile that growth investors have been seeking.
