Co-working Spaces

Customised, personalised solutions enable cos to command premium versus standard rentals/leases

Co-working firm Spring House Workspaces has opened a new centre at Saket in South Delhi comprising 28,000 sq ft area to meet demand from corporates. The centre, located at Southern Park Mall in Saket, can accommodate 450 seats. Mukul Pasricha, Founder & CEO of Spring House Workspace, noted that the demand for managed flexible workspaces is rising from enterprises of all sizes. The company has more than 20 centres across Delhi-NCR covering more than 8 lakh sq ft of office space. Co-working operators have leased 2.6 million square feet office space during the April-June quarter across seven major cities against 1.3 million square feet in the year-ago period, according to real estate consultant Vestian. These operators take space from real estate developers and individual property owners to establish co-working centres and then the workspaces are sub-leased to corporates.

Smartworks plans to sustain 35% growth after its NSE-BSE listing, riding on robust demand for co-working spaces, expanding presence, and strong cash inflows

The company adds over 700 desks in Gurgaon and plans to close FY26 with an annual run rate of ₹250 crore, with further expansion across Noida, Pune and Bengaluru

Co-working centre operators have rented 65 lakh square feet of office space during the January-June period this year across seven major cities, up 48 per cent on an annual basis, on rising demand for managed and flexible workspaces from corporates, according to Colliers India. Co-working operators leased 44 lakh square feet in the corresponding period of 2024 calendar year across seven cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Pune and Bengaluru. The co-working operators take office spaces on rent from real estate developers and property owners and then sub-lease it to corporates of all sizes. Although many corporates have started opting managed office space provided by co-working operators to save cost and hassles, a large number of companies still take conventional workspaces directly from builders and property owners. Colliers India data showed that the total gross leasing or absorption of office space rose 13 per cent to 337 lakh (33.7 million) square feet durin

Rating agency ICRA on Wednesday said that India's co-working segment may witness five maiden public issues in the next 12-18 months to raise more than Rs 7,000 crore. In a statement, ICRA said that India's flexible (flex)/co-working office space portfolio is expected to increase to around 125 million square feet by March 2027 (from around 80 million square feet as of December 2024) for the top six cities (Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai Metropolitan Region (MMR) and Pune). "This segment, which has seen one successful initial public offer (IPO) in 2024, is set to witness five major IPOs in the next 12-18 months, which are projected to raise over Rs 7,000 crore," it added. Co-working operator Awfis has already launched its IPO and is listed on the stock exchanges. Smartworks, WeWork India and IndiQube Spaces Ltd have already filed the preliminary documents with markets regulator SEBI to launch their IPOs. Anupama Reddy, Vice President and Co-Group Head, Corporate ...

The company which competes with WeWork, Regus and others like Awfis, has 15 lakh sq ft co-working space across the country. It aims to double its entire portfolio by 2027

Co-working firm Awfis Space Solutions Ltd has posted a consolidated net profit of Rs 15.17 crore in the third quarter of this fiscal on higher income. The company had posted a net loss of Rs 6.28 crore in the year-ago period. Total income increased to Rs 331.46 crore in the October-December period of this fiscal from Rs 225.77 crore in the corresponding period of the preceding year, according to a regulatory filing on February 11. "Since March 2024, we added around 27,000 seats and 33 centres to reach 1,20,000 seats and 193 operational centers ... We remain confident in reaching our target of 1,35,000 operational seats by March 2025," said Amit Ramani, Chairman and Managing Director, Awfis Space Solutions. Awfis is one of the leading operators of flexible managed office space in the country.

Bengaluru-based Urban Vault reported a 41 per cent increase in rentals for ESG-certified properties during the third and fourth quarters of FY24

Backed by Blume Ventures, BHIVE expanded into the Mumbai-Pune region, securing office space at Adani's tower in BKC with an investment of Rs 25 crore

WeWork plans to inaugurate its first building in Chennai in early June. Currently, the company is spread out across 54 locations with more than 90,000 desks across seven cities

Amid growing demand for flexible office spaces, the company is in 'advanced discussions' to enter Delhi-NCR and Hyderabad markets

Co-working firm EFC (I) Ltd's consolidated net profit jumped nearly 10-fold to Rs 21.17 crore for the quarter ended December. Its net profit stood at Rs 2.14 crore in the year-ago period. The consolidated revenues grew to Rs 173.69 crore during the October-December period of this fiscal as against Rs 26.38 crore in the corresponding period of this fiscal year, EFC (I) said in a statement on Monday. In the first nine months of this fiscal, the company's net profit jumped to Rs 35.37 crore from Rs 3.80 crore in the same period of the previous fiscal. The total income rose sharply to Rs 329.66 crore during the April-December period of this fiscal as against Rs 41.43 crore in the year-ago period. Umeash Sahhaaii, Founder and CEO of EFC (I) Ltd, said, "India is witnessing exponential growth in co-working spaces with it becoming a preferred choice among freelancers, SMEs, startups, and even MNCs for its flexibility and networking benefits." Pune-headquartered EFC has a presence in seve

WeWork's collapse into bankruptcy is the culmination of a years-long saga for the company, which was once the biggest office tenant in Manhattan

Co-working operator EFC (I) Ltd plans to expand its capacity by more than 2.5 times to 60,000 desks as it seeks to encash rising demand for flexible workspace from corporates. Pune-based EFC (I) Ltd, which is a serviced office/co-working space operator, is listed on BSE. It has a presence in seven states spanning over 35 co-working centres totalling 1.5 million square feet area. In a statement, the company said that it plans to "triple its capacity -- from 23,000 to 60,000 seats by March 2024." EFC (I) will add 10,000 seats during the first quarter of this fiscal year. It mentioned that 65 per cent of the company's business comes from institutional clients, while the remaining 35 per cent comprises the retail part. Umesh Sahay, Founder & CEO of EFC (I) Ltd, said, "We have built an ecosystem comprising efficient, safe, well-designed and ergonomics-friendly workspaces - ranging from made-to-order offices to co-working solutions." "In the past six years, we achieved a scale of 23,00

In the top seven cities in India, there was a 90% jump in net coworking space absorption between Q4FY19 and Q4FY23

Budget 2023: Co-working space companies want the Centre to reduce the rate of tax deducted at source on their services

Co-working operators are opening new centres to tap rising demand for flexible workspace and their share in the overall office space leasing jumped to 20 per cent during January-June, according to Anarock. In April, real estate consultant Anarock entered into this segment by acquiring 75 per cent stake in myHQ, a booking platform for co-working spaces, in a cash and stock deal of around Rs 125 crore. myHQ, which is headquartered in Delhi-NCR, has over 50,000 subscribed members. As per the data, the total net absorption of office space across seven major cities stood at 20.8 million square feet in the first half of this calendar year. In this, the share of co-working spaces stood at 20 per cent. In H1 (January-June) 2021, its share was just 6 per cent of net office absorption of about 9.33 million square feet. Corporates are preferring co-working centres, which include managed office space, to cut capital expenditure and enjoy flexibility in scaling up or down their businesses. If

Demand for co-working office space jumped over two-fold in the last fiscal year at 90,200 desks across seven major cities as flexible workspaces rose in prominence after 2nd wave of the pandemic

Large part has been invested by a top infra firm's director; after the round over 75% ownership in iSprout will be with the four co-founders and this investor