Co-working Spaces

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

Companies are looking at managed spaces for the triple benefits of cost savings, lease flexibility and the hybrid/hub-spoke model of working that they offer

Many might be forced to sell off their properties to new players or repurpose them to create some office or co-working space to hedge their bets

They are using the interregnum to expand and to negotiate cheaper real estate deals to add seating capacity

Coworking major WeWork India on Monday said it has raised Rs 200 crore from investors as equity and debt

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai with an investment of about Rs 40 crore.

GFM has five million square feet across office properties in Mumbai Thane, Gurugram, Pune and Bengaluru

Co-working segment has a bright future and will grow post-Covid-19 pandemic, but operators may face a lot of pain in the next one year, according to top property consultants