India, April 29 -- Mumbai topped warehousing absorption in the January-March quarter among the top seven cities, with 4.76 million sq ft, accounting for 42% of total demand across the top seven cities. However, its leasing activity dipped 14% from 5.56 million sq ft in the same period last year, according to a report by Vestian.

The warehousing segment recorded total absorption of 11.4 million sq ft in Q1 2026, down by 14% from 13.3 million sq ft in the same quarter last year, the report said. While absorption declined by 14% year-on-year, leasing activity remained robust, led by 3PL, engineering & manufacturing, and consumer goods occupiers, it said.

Pune emerged as the second-largest market with 4.46 million sq ft of absorption, regis...