Driven by a thriving start-up ecosystem as well as growing demand from corporates, freelancers and consultants, among others, co-working spaces are growing like never before. So much so that, UK based premium - Avanta India by setting up its business centres in Delhi-NCR witnesses a 19.4 percent growth in occupancy in H1 2018 (1st half of 2018).
As per industry estimates, because of the contract renewal which might go on higher rates, Avanta Business Centre records a 16 percent growth in revenue in H1 2018 and further expects 6 percent rise in H2 2018.
The financial year of 2017 - 2018 reported a massive growth spike in the co-working space industry. Basis a report, there are 12-16 million seats across all the co-working spaces in India and more growth is expected in the present financial year. Avanta Business Centre, the high quality shared workspace makes it possible for MNCs, Corporates, and start-ups as well to avail a high degree of flexibility in their work environments, in terms of locations, facilities and of course cost.
Talking about the growth potential of high quality shared workspaces in India and vision, Nakul Mathur, Managing Director, Avanta Business Centre, elaborates, "Shared workspace segment will continue to prosper ceaselessly, for long and by 2020, the number of seats in the licensed commercial setup is likely to grow by four folds. Of all the cities, the six major cities of Mumbai, Delhi-NCR, Chennai, Bangalore, Pune and Hyderabad have the majority of the co-working spaces. We have already established ourselves in Delhi NCR with 4 centres in Delhi and one centre in Gurgaon and plan to expand our business in Mumbai as it is the topmost market for the co-working spaces.
Disclaimer: No Business Standard Journalist was involved in creation of this content
