FLEXIBLE WORKSPACE OPERATORS
91Springboard sets up 6 co-working centres with 3,600 seating capacities
91Springboard has expanded its presence in Mumbai, Delhi-NCR, and Pune by launching six new co-working centers, adding 3,600 desks and 1.7 lakh sq ft of space. This move aims to cater to the increasing demand from entrepreneurs, freelancers, and large enterprises for flexible office solutions. With this expansion, 91Springboard now boasts 30,000 desks across 1.5 million sq ft in India.
WeWork leases over 60,000 sq ft of managed office space to Samsung India Electronics
Samsung India has expanded its Chennai operations. The company leased 1,000 desks at WeWork's Olympia Cyberspace. The 42-month lease covers 61,230 square feet. This doubles Samsung's Chennai footprint. The move highlights Chennai's rise as a tech hub. WeWork's facility accommodates over 3000 desks. It provides a modern workspace for businesses. Several global brands are already tenants.
Cluster-based development to anchor Dharavi Redevelopment master plan
The Dharavi Redevelopment Project, a massive undertaking across 600 acres, aims to transform the area into organized neighborhoods with integrated infrastructure. The master plan, approved by the state govt, emphasises cluster-based development, a new road network, and a Multi-Modal Transit Hub.
“50% of our growth will come from GCCs”: Here are the trends shaping India’s managed workspaces sector
UrbanWrk is Driving GCC Growth in India with Agile Office Solutions. UrbanWrk, led by CEO & Co-Founder Anuj Munot and COO Harsh Mehta, is at the forefront of India's booming Global Capability Centre (GCC) expansion. As multinational companies increasingly choose India for its talent and scalability, the demand for flexible, future-ready workspaces has surged. UrbanWrk is meeting this need with agile, tech-enabled office solutions that support rapid scaling, hybrid work models, and seamless business continuity. With a deep understanding of corporate needs and evolving workforce trends, UrbanWrk is empowering GCCs across India to grow faster, smarter, and more efficiently.
Sumadhura Group forays into managed office spaces, aims to lease 1 million sq. ft of space over the next three years
Sumadhura Group has entered the managed office space (MOS) sector with Workship, a premium workspace brand in Bengaluru's Whitefield. Spanning 1.22 lakh square feet with over 3,000 seats, Workship aims to capture the growing demand for flexible workspaces.
Awfis Elevates Sumit Lakhani to CEO in strategic leadership move
Awfis Space Solutions elevates Sumit Lakhani to CEO. Lakhani will manage operations and customer initiatives. Amit Ramani will focus on strategy and new ventures. Lakhani has been with Awfis since its start. He aims to scale the company and deliver value. Awfis plans to expand its reach and offerings.
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Simpliwork Offices expands Bengaluru footprint with two key leases of 1.32 lakh sq ft
Simpliwork Offices is significantly expanding its Bengaluru presence, leasing 1.32 lakh sq. ft. across two Whitefield properties. This move aligns with their ambitious growth strategy, aiming to nearly double their portfolio to 9-9.5 million sq. ft. in two years. Driven by strong enterprise demand, Simpliwork anticipates revenues of ₹950 crore in FY25 and ₹1,400 crore by FY27.
Flexible office space operators emerge as top choice for new GCCs in India
Amid global uncertainties, new global capability centers (GCCs) establishing operations in India are increasingly favoring flexible workspace operators. These operators offer short lease tenures and the flexibility to adjust space based on evolving needs.
India's booming flexible office space to see Rs 7,000 crore IPO wave
India's flexible office space market is poised for significant growth, with five major players planning IPOs to raise over Rs 7,000 crore in the next 12-18 months. This surge is fueled by rising demand for flexible workspaces among startups, SMEs, and large enterprises.
India’s flexible, co-working office supply to hit 125 million sq ft by 2027, report
India's flexible office space market is set to expand to 125 million sq ft by March 2027, driven by demand for flexible, short-term leases. ICRA projects a 21-22% CAGR, with multiple IPOs expected in the next 12-18 months. Vacancy rates are decreasing, and despite new supply, they are expected to remain stable.
CorporatEdge leases 42,000 sq ft at World Trade Center
CorporatEdge has expanded its Delhi presence by leasing 42,000 sq ft at the World Trade Center, Nauroji Nagar, bringing its total operational area in Delhi to 62,000 sq. ft. This move aligns with the increasing demand for flexible workspaces, particularly from Global Capability Centers, which are projected to lease nearly 26 million sq. ft. of office space by 2027.
Hospitable workspaces: Managed office providers shift focus to hotel-like amenities, services
Managed workspace providers are increasingly focusing on hospitality to meet the demands of businesses seeking hotel-like amenities for their employees. The sector has experienced significant growth, driven by the need for bespoke office spaces and integrated technological services. Companies are now prioritizing service experience and high-quality fit-outs to attract global businesses.
Bhartiya Urban ventures into GCC space with Bhartiya Converge
Bhartiya Urban has introduced Bhartiya Converge, a GCC enablement platform, to streamline operations for global corporations in India. This integrated suite aims to enhance agility, efficiency, and scalable growth by addressing infrastructure, talent, and business operations.
Short of quality space, companies go for custom-made offices
Corporates in India are increasingly opting for built-to-suit properties to tackle the shortage of quality office spaces in major cities. This demand is fueled by a mismatch between supply and demand, with a significant need for large office spaces ranging from 500,000 to 1 million sq ft.
As companies go hub-and-spoke, flex office boom spreads to tier-II cities
Shared office spaces are becoming popular in smaller cities. Companies are setting up offices away from big cities. This helps them find talent and save money. WeWork and Awfis are expanding to cities like Jaipur and Kochi. These cities are becoming important for business growth. Governments are also supporting this trend with tax breaks.
Smartworks, Table Space to lease over 2 million sq ft in NCR, Mumbai
Flexible workspace providers Table Space and Smartworks are expanding aggressively in key Indian cities. Table Space is nearing final agreements to lease about 500,000 sq ft across three centers with DLF and Godrej in Gurgaon, and Bharti in Aerocity, Delhi. Meanwhile, Smartworks is in advanced discussions with Tata Realty and Hiranandani to significantly grow its presence in Mumbai.
Office space leasing by co-working operators down 43 pc in January-March across 9 cities: CBRE
Leasing of office space by co-working operators in India's nine major cities fell by 43% to 21.6 lakh sq ft in Q1 this year. Although overall office leasing increased by 5%, the share of co-working spaces decreased, with significant demand from GCCs and the technology and BFSI sectors.
BFSI firms fuel India’s office leasing surge with over 100% YoY growth in Q1 2025
In Q1 2025, India's office leasing market saw significant growth, with gross absorption reaching 18 million sq. ft., a 5% YoY increase. The BFSI sector, driven by Global Capability Centres, notably contributed 26% of total absorption. Bengaluru, Delhi-NCR, and Mumbai led leasing activity, with green-certified office spaces gaining prominence.
315Work Avenue plans to add 2 mn sqft of office space by FY2026
315Work Avenue plans to expand its coworking space portfolio by 2 million sq. ft, with a Rs 400 crore investment, to meet the rising demand for flexible office spaces among corporates. The company currently manages 3 million sq. ft and intends to grow to 5 million sq. ft by the end of the year.
The Executive Centre plans to invest Rs 180 crore in Q1 2025, to expand its portfolio
The Executive Centre plans to expand its presence in Mumbai, Pune, and Bengaluru, driven by significant growth in office leasing. TEC announced an investment of Rs 125 crore for new centres, while flexible workspace demand sees a notable increase, especially in IT and BFSI sectors.
Flexible workspace operators leased 12.4 million sq ft in 2024
Flexible workspace operators achieved a record leasing volume of 12.4 million sq ft in 2024, up 57.5% YoY, driven by demand for operational flexibility and cost efficiency. Bengaluru led with 3.4 msf of volume. IT-BPM sector dominated flex seat leasing with 48% share. The trend, encouraged by 'Core+Flex' strategies, is expected to continue strong in 2025.
Incuspaze plans $25M pre-IPO round as flexible workspace IPOs gain momentum
Flexible workspace provider Incuspaze is raising $25 million ahead of its IPO next year. The company is capitalizing on the rising demand for flexible workspaces in India. Other players like Awfis, Smartworks, Tablespace, Bhive, and WeWork India also plan to go public.
Net office leasing to grow 10-12% to 41-43 million sq ft this fiscal: CRISIL Ratings
Net leasing of Grade A commercial offices in India is projected to rise by 10-12% this fiscal, driven by strong demand from global capability centres, banking, financial services, insurance, and manufacturing sectors. This growth will improve cash accruals and credit profiles of commercial real estate entities. CRISIL Ratings highlights floor-wise denotification of SEZs aiding this trend.
Flexible workspace operator Smartworks raises Rs 168 crore
“Capital from the latest fund raising will be used for the growth and expansion of the business of the company and to meet its general corporate expenses,” said Neetish Sarda, founder Smartworks.
India Accelerator adds 250,000 sq ft in Pune, Gurugram and Noida
India Accelerator has expanded with 250,000 sq ft across 7 centres in Pune, Gurugram, and Noida, adding 3200 seats in Noida, 900 in Gurugram, and 400 in Pune. With over 200 startups, they foster collaboration and innovation, investing USD 4 million to support entrepreneurs nationwide via infrastructure and early-stage investments.
Flexible workspace operators raise Rs 4,600 crore after Covid
Flexible workspace operators in India have raised Rs 4,600 crore post-Covid, compared to Rs 1,400 crore in the five years before the pandemic, as companies adopt hybrid work models. The market size for flexible office real estate is expected to grow to between 100 million sq ft and 140 million sq ft by 2030, from the current 55 million sq ft.
Tata Sky broadband signs on-demand enterprise deal with WeWork
This deal serves as a positive reinforcement back to growth for workspace providers post-COVID-19 and demonstrates the steadily rising demand of flexible workspaces amongst enterprises
With 10,000 desks and 7 lakh sq ft sold, WeWork India boasts new high in quarter sales
The firm has also raised additional Rs 200 crore to fuel its growth from both domestic and international investors.
Flexible workspaces to lease three million square feet of space in 2021, says Colliers
Despite large workforces working from home, as of March 2021, top flexible workspace operators across the top six cities have about 65% of their seats already leased, signalling continued confidence in managed workplaces.
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