India retail leasing surges 45% YoY in Q3 2025; Mumbai leads with 24.5% share
Retail space demand accelerated sharply in Q3 2025, with leasing up 45% year-on-year. Mumbai topped activity at a 24.5% share, signaling strong appetite for store expansion across brands and a robust runway for physical retail footprint growth.
India's retail leasing rose 45% YoY in Q3 2025, with Mumbai leading at a 24.5% share of leasing activity—signaling strong demand for retail space relevant to store expansion plans.
Why this matters
This signal underscores accelerating physical retail expansion in India, with leasing momentum concentrated in Mumbai and broad-based brand demand pointing to sustained store-opening activity.
Store-opening trend steady with 352 signals in the past 90 days.