India Accelerator Commits $5M to Double Footprint; Expands Across 20+ Cities with 29 Centres

India Accelerator (IA), the country’s leading seed-stage startup accelerator & co-working space provider, has announced a major expansion of its coworking and community footprint across India. Strengthening its position as a full-stack ecosystem enabler, IA now has a presence across 20+ cities, with 29 centres currently operational, supporting a thriving community of over 10,000 seats and members nationwide.

As part of its ongoing expansion strategy, IA has recently added Dehradun, Rajkot, and Vishakhapatnam to its network in the January-March 2026 quarter, further deepening its reach into emerging startup markets and high-potential regional ecosystems.

With this expansion, India Accelerator’s growing national footprint now spans key cities including Gurugram, Noida, Delhi, Pune, Mumbai, Hyderabad, Chennai, Ahmedabad, Jaipur, Indore, Lucknow, Chandigarh, among others, in addition to the newly added locations.

In each market, IA deploys its integrated model of funding, coworking infrastructure, and acceleration support, ensuring that startups have access to capital, operational workspace, and strategic guidance from the outset. This approach enables IA to build not just presence, but high-functioning startup ecosystems in every city it operates in.

This milestone underscores IA’s vision to build a truly distributed innovation network, enabling startups from both metro and non-metro cities to access capital, mentorship, and market linkages without geographic constraints.

Each city is strategically developed as a catchment area, designed to aggregate and activate localized strengths: talent pools, academic institutions, industry clusters and capital. These catchment areas act as sourcing and scaling engines, enabling IA to systematically identify high-potential startups.

India Accelerator is also gearing up for its next phase of growth, with ongoing expansion plans in Vadodara, Kolkata, Guwahati, and Bangalore by H1 2026, as part of its roadmap to double the number of cities over the next 12–18 months.

To fuel this aggressive scale-up, IA is committing an investment of approximately USD 5 million, aimed at expanding infrastructure, strengthening community engagement, and enhancing its integrated accelerator-coworking model.

Speaking on the development, Ashish Bhatia, Founder & CEO from India Accelerator said:
“Our vision has always been to democratize access to startup infrastructure and support across India. With our expanding footprint across 20+ cities and plans to double this in the near future, we are building a truly inclusive and interconnected startup ecosystem. This expansion is not just about physical spaces, it's about enabling collaboration, unlocking regional innovation, and creating a strong national founder network.”

India Accelerator’s coworking centres go beyond physical infrastructure, offering startups a comprehensive ecosystem that integrates mentorship, funding access, community synergies, and business enablement. With over 600+ startups in its community, IA continues to foster strong intra-network collaboration, enabling founders to leverage shared expertise, partnerships, and market opportunities.

By expanding into diverse geographies, IA is building city-level catchment areas that tap into localized strengths, be it talent, industry clusters, or emerging entrepreneurial energy, while systematically channeling these opportunities into a larger national and global innovation network.

As India’s startup landscape continues to evolve beyond traditional hubs, India Accelerator’s pan-India expansion positions it at the forefront of enabling the next wave of innovation from across the country.

91Springboard Partners with Maharashtra Govt for the Launch of New Initiative, Maharashtra Virtual Incubation Center (MVIC)

(L-R) Dr. Apoorva Palkar, Vice Chancellor - Maharashtra State Skills University, Mangal Prabhat Lodha Hon'ble Minister, Department of Skills, Employment, Entrepreneurship and Innovation, Shri Ramesh Bais - Hon'ble Governor of Maharashtra

With the objective of supporting early-stage startups in Maharashtra, the Government of Maharashtra is launching the Maharashtra Virtual Incubation Centre (MVIC) in partnership with 91Springboard Business Hub Pvt. Ltd., a leading co-working space provider offering facilities like office infrastructure, administrative support, mentoring, access to networks, and community. Through MVIC, incubation-related products and services like legal, financial, Intellectual Property, cloud and mentoring will be offered at preferential rates to startups in Maharashtra.

MVIC aims to foster innovation and entrepreneurship in Maharashtra by providing a supportive ecosystem for startups to grow and scale their businesses. Through this virtual platform, startups can access resources and services remotely, making it convenient and cost-effective. In addition, MVIC shall also offer access to co-working spaces, networking events, and other resources that can help startups grow and thrive. 91Springboard will be providing access to the services either by itself or through suitably qualified service providers/vendors.

In the first phase, MVIC platform is being launched for 300 startups which are incorporated in Maharashtra and are recognized by DPIIT, Government of India.

The various Services being provided are,

• Finance, Taxation, Accounting like payment gateways, investment management etc.
• Technology Infrastructure like Cloud services, website designing, application building etc.
• Legal support like IP filing, M&A service, compliances
• Marketing tools like CRM solutions, digital marketing tools, marketing analytics.
• Product Development & Prototyping services
• Office Spaces like co-working spaces, office complexes, incubation support
• Mentorship and Learning
• Other services like hospitality and travel, access to investor community

DPIIT-recognized startups incorporated in Maharashtra can register their interest for the Maharashtra Virtual Incubation Centre (MVIC) on www.mvic.in

WeWork India Raises INR 550 Cr From Funds Managed by BPEA Credit

Funds to be used for future growth and potential consolidation opportunities

WeWork India, the country’s leading flexible workspace provider, has tied-up INR 550 crores from funds managed by BPEA Credit, one of the largest private credit platforms in India. The financing comes close to WeWork India’s bullish outlook towards expansion and its robust performance in FY23.

Commencing operations in India in 2017 with 100K sq ft and 2200 members, WeWork India, over the last five years, has progressed to 62K+ members and over 6mn sq ft across 41 locations and six cities in India - Bengaluru, Mumbai, Gurugram, Noida, Hyderabad, and Pune. WeWork India’s member portfolio comprises 70% of enterprises such as 3M, Khaitan & CO, Honeywell, Dyson and KIA, while 30% includes startups, freelancers, and SMEs.

Earlier this year, the company announced its first profitable quarter, followed by new leasing announcements across its major operational cities. Following WeWork India’s strong performance in providing the best workspace solutions and supporting India Inc, the funding will further strengthen WeWork India’s position as a revolutionary brand reshaping the future of work.

“Flexibility is paramount in today’s workforce and the investment by BPEA Credit stands testament to the massive growth opportunity for flex workspaces in India and validates WeWork India’s strong fundamentals and healthy business model. We are laser-focused on fuelling growth opportunities and fortifying our position as the leading flexible workspace brand with customisable and innovative solutions for all businesses.” said Karan Virwani, CEO, WeWork India.

In 2020, WeWork India raised INR 750 crores via funding from WeWork Global which played an instrumental role in stabilising the business during the pandemic. WeWork India turned profitable this year and locked a revenue of INR 1300 cr this year-end. At present, the EBITDA jump is 250% from a loss of INR 120 cr in CY21 to a profit of INR 175 crore in CY22. The company also recently made its first investment in the Bengaluru-based conferencing and collaboration platform Zoapi to reinforce its commitment to offering innovative and immersive solutions to businesses.

With India Inc transitioning towards a hybrid work model, there has been a growing demand for flexibility and a sense of community among today’s workforce. Prompted by companies' evolving requirements and the feasibility of their existing business models, WeWork India remains prudent about its overall business strategy. With a commitment towards meeting the industry’s increasing demands, the brand intends to offer a superior workspace experience built upon its core principles of flexibility, accessibility and community.

Avendus Capital Private Limited was the exclusive investment banking partner for WeWork India on this transaction.

About WeWork India

WeWork is India’s largest office space provider, aimed at creating flexible workspace solutions for companies of all sizes. Since entering the Indian market in 2017, WeWork India has been spearheading the concept of flexible workspaces and driving the future of work with over 6 million sq ft of assets signed across 41 locations in NCR, Mumbai, Bengaluru, Pune and Hyderabad.



For more information, visit: wework.com

Co-Working Space Share in Office Real Estate at 20% in H1 2022 from 6% in 2021

• Of net office absorption of 20.8 Mn sq. ft. in H1 2022 across top 7 cities, coworking comprised a 20% share; in H1 2021, its share was 6% of 9.33 Mn sq. ft.
• IT/ITeS office spaces share declined from 49% in H1 2021 to 36% in H2 2022
  Bengaluru & Hyderabad account for 50% of net office absorption in H1 2022
• Avg. monthly office rentals in H1 2022 up 5% in NCR & Hyderabad, up 4% each in Bengaluru & Pune
• H1 2022 saw robust new office supply aggregating to 31.8 Mn sq. ft., Bengaluru, Hyderabad & Pune dominated with a total 74% share
• With high new completions, avg. vacancy levels across top 7 cities rose by 2%

Demand for flexible office spaces has hit new high notes post the pandemic, with major companies and businesses including start-ups now opting for co-working. Latest ANAROCK data reveals that out of a net absorption of approx. 20.8 Mn sq. ft. across the top 7 cities in H1 2022, the share of co-working spaces stood at 20%. Back in H1 2021, its share was just 6% of net office absorption of approx. 9.33 Mn sq. ft.

In contrast, the share of IT/ITeS sector – India's leading office demand driver - declined from 49% in H1 2021 to 36% in H2 2022. However, this decline is largely because many IT companies are now also preferring flexible spaces to regular office spaces.

In terms of net absorption across the top 7 cities in H1 2022, Bengaluru and Hyderabad remained on top, comprising 50% of total demand share.

• Bengaluru, Hyderabad and Chennai - the top Southern cities - together witnessed net office absorption of approx. 12.2 Mn sq. ft. Of this, 18% or approx. 2.23 Mn sq. ft. was by coworking players.
• Western markets of MMR and Pune saw net absorption of nearly 5.45 Mn sq. ft. Of this, 27% or approx. 1.5 Mn sq. ft. was by coworking players.
• In NCR it stood at approx. 2.75 n sq. ft. Of this, 15% or approx. 0.41 Mn sq. ft. was by coworking players.
• In Kolkata, merely 0.4 Mn sq. ft. office space was absorbed. Of this, 14% or approx. 0.06 Mn sq. ft. was by coworking players. 

Anuj Puri, Chairman ANAROCK Group, says, "Coworking has received a major boost after Covid-19 disrupted the previous status quo. A major factor driving demand is that these spaces are not concentrated in just the city centres or major employment hubs; they're spread across different areas, including the housing-intense suburbs. Coworking spaces are now also operating out of malls and hotels across cities. Many large office parks are also housing coworking spaces. This helps companies to remain closer to their employees and offer them flexibility.”

Another advantage is that with flexible office spaces, companies can plug-and-play at the same cost rather than wrestling with office layouts and fit-outs. The lock-in period for taking up a regular office space is anywhere between 3-4 years. All these factors have also helped boost the demand for co-working spaces.

Cities	Net Absorption across cities in H1 2022 (in Mn sq. ft.)	% Share of Coworking in each City
NCR	2.75	15%
MMR	2.9	11%
Bangalore	6.1	23%
Pune	2.55	45%
Hyderabad	4.25	13%
Chennai	1.85	15%
Kolkata	0.4	14%
Total	20.8	20%

Source: ANAROCK Research

Office Rentals

Backed by rising office space demand, average monthly office rentals are also seen to be rising across the top cities:

• NCR and Hyderabad each saw a 5% rise in avg. monthly office rentals in H1 2022 compared to same period in 2021. Currently, the avg. monthly office rents in NCR are at INR 80 per sq. ft. while in Hyderabad it is INR 60 per sq. ft
• Bengaluru and Pune each saw a 4% yearly rise. The avg. monthly rentals in these IT hubs by the end of H1 2022 stood at INR 81 per sq. ft and INR 72 per sq. ft., respectively
• MMR, Chennai and Kolkata witnessed a 2% rise each in avg. monthly rentals in this period. In MMR, the avg. office rentals are the highest among the top 7 cities at INR 128 per sq. ft.; in Chennai they are INR 61 per sq. ft., and Kolkata has the lowest at INR 53 per sq. ft.

Office Rental (INR/Sqft/Month)
City	H1 2022	H1 2021
Bangalore	81	78
MMR	128	125
NCR	80	76
Chennai	61	60
Hyderabad	60	57
Pune	72	69
Kolkata	53	52

Source: ANAROCK Research

Supply

Meanwhile, the top 7 cities also witnessed robust new office supply in H1 2022, aggregating to 31.8 Mn sq. ft. Bengaluru, Hyderabad and Pune dominated with a total 74% share. Given the high new completions, average vacancy levels across top 7 cities rose by 2% to stand at 15.95% in H1 2022.

IA Launches New Co-working Space at Golf Course Road, Gurugram

The newly built co-working space is located in one of the most sought-after business locations in Gurugram and has 250 seats available with an array of workspace options.

India Accelerator - India’s only seed accelerator program with Global Accelerator Network launches new co-working space on Golf Course Road, Gurugram, establishing its 5th Co-working space in the city/country. With the newly launched space, the accelerator aims to offer a collaborative work environment and empower startups and young entrepreneurs to thrive in a competitive business landscape.

The newly unveiled co-working space is spread across a 1500 sq. ft. area, based on a new concept of easing the way modern companies work. The space offers a comfy as well as upgraded lifestyle to employees to enhance their engagement and productivity at work.

Delighted with the unveiling of new coworking space Mr Abhay Chawla Co-Founder at India Accelerator said, “Having an office space in a premium business location costs a fortune. It is a major roadblock for highly-talented professionals and startups. Being a new age co-working space, we have created a budget and work-friendly infrastructure combined with technology, design-thinking and efficiency of resources. With this space, we look forward to bringing endless growth opportunities for startups and entrepreneurs.”

“With accelerated digital adoption, flexibility has taken the centre stage in modern work culture. We understand the requirements of new-age startups and thus, give immense flexible opportunities in terms of location and workstation options,” he added.

Given the broader changes occurring in the present work scenario, demand for every working professional is also changing in terms of flexibility and cost to use the space. The co-working space has 250 seats available. It provides a plethora of workspace options including fixed workstations, personalized cubicles, cabins and flexible day pass.

Furthermore, the co-working space is furnished with advanced technologies and amenities including well-equipped meeting rooms, high-speed Wi-Fi, cafeteria and deliberately thought seating arrangements.

Currently, India Accelerator has a strong presence in Gurugram – one of the most sought-after business hubs in India. Further, it plans to expand in Bangalore, Pune, Mumbai and Hyderabad in the upcoming year.

WeWork and Upflex Sign Strategic Partnership to Enable Access to Global Network of 5,500 Flex Workspaces

WeWork Inc., a leading flexible space provider, announced today a strategic and exclusive partnership with Upflex, a coworking aggregator and global flexible workplace startup. The exclusive partnership will establish a combined global network of over 5,500 locations and provide WeWork and Upflex’s clients with enhanced flexibility as they adopt hybrid work strategies. WeWork will also participate in Upflex’s Series A funding alongside additional investors.

Through the partnership, both WeWork and its members will gain access to Upflex’s fast-growing, aggregated portfolio of over 4,800 third-party spaces, provided by over 700 flexspace operators across 80 countries. WeWork will be the exclusive flex workspace operator to sell Upflex inventory to its members, allowing WeWork members to access Upflex’s vast network of third-party spaces while maintaining a streamlined experience through WeWork as their single workspace provider.

Additionally, this partnership will position WeWork to roll out enhanced WeWork Access membership options where members will have the ability to search, view and book space at select non-WeWork locations within the Upflex network. The expanded scale across non-core WeWork markets globally will allow members to choose from a wider array of tailored, flexible space solutions that best fit their specific real estate requirements.

Reciprocally, Upflex will be the exclusive coworking aggregator to access WeWork’s global inventory, allowing both Upflex’s customers and employees to book workspace at WeWork locations through the Upflex platform and marking the first time WeWork has allowed workspace bookings from a third-party platform. This partnership will also enable all coworking brands on the Upflex network to leverage WeWork's community of more than 28,000 member companies around the world.

Sandeep Mathrani, CEO of WeWork, said, “We are pleased to invest in and partner with the great team at Upflex, whose vast network of flexible office locations and offerings are a strong addition to WeWork’s portfolio. As we look to the future of work, this partnership will not only drive more value in our own product offerings for WeWork members, but also promote a more innovative and collaborative flex ecosystem that is continually thinking of new ways to better serve the workforce.”

Christophe Garnier, CEO of Upflex, said, “This partnership is a significant step forward for both our supply partners, who will see huge demand growth, and our customers, who will be able to embrace the largest and highest quality flex network in the world. WeWork and Upflex share the same goal: create a better workplace for everyone, and we are excited to take the industry to a new level by matching the largest players in supply and demand together.”

The deal marks a step forward in WeWork's continued shift into an asset-light growth strategy by exponentially increasing the physical network for members without added incremental capital investments. Additionally, by partnering with Upflex, WeWork is enhancing its tech-first approach to providing an exceptional member experience through Upflex’s online marketplace.

WeWork (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we’ve become one of the leading global flexible space providers committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com.

About Upflex

Upflex is a virtual platform created around the idea that today's companies must provide on-demand workplace flexibility while embracing environmental sustainability. Through a global, best-in-class, comprehensive network of workspaces, Upflex offers companies flexibility and a workspace hybrid model for their employees. It provides instant access to the largest global network of workspaces across 5,500+ locations in 80 countries.

Forward-Looking Statements

Certain statements made in this press release may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include, but are not limited to, those regarding the partnership agreement with Upflex and the concurrent financing, and the transactions contemplated thereby, future strategic growth, efficiency, and enhanced customer experience, the anticipated benefits of the partnership and financing, future financial and operating results of WeWork or Upflex, and other statements about future expectations, plans and prospects. The words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “predict,” “plan,” “pipeline,” “potential,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although WeWork believes the expectations reflected in any forward-looking statement are based on reasonable assumptions, it can give no assurance that its expectations will be attained, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and other factors. Such factors include, but are not limited to, WeWork’s ability to recognize the anticipated strategic, economic and other benefits of the partnership and the financing; the effect of the announcement of the partnership and the financing on WeWork’s business, operating results and relationships with customers, suppliers, competitors and others; risks that the partnership or financing may alter or change WeWork’s current plans and business operations; changes in general economic conditions, including as a result of the COVID-19 pandemic; delays in customers and prospective customers returning to the office and taking occupancy as a result of the COVID-19 pandemic, as well as the response of governments and business, and the emergence of variants leading to a parallel delay in receiving the corresponding revenue; the success of new product offerings; and WeWork’s inability to implement its business plan. Forward-looking statements speak only as of the date they are made. WeWork discusses these and other risks and uncertainties in its annual and quarterly periodic reports and other documents filed with the U.S. Securities and Exchange Commission. WeWork may update that discussion in its periodic reports, but otherwise takes no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise.

Co-Working Space Marketplace Passwork offering 'Walk to Work' - Raises Angel Investment

• Passwork assists corporates with ‘Walk to Work’ solutions to design flexible working options
• Provides flexible office solution through a network strength of 90+ operators, 500+ accessible locations, 20,000+ workstations
• Passwork solutions boost employee productivity and reducing rental and administrative costs by 50%

Passwork, a Mumbai-based marketplace for co-working spaces, today announced that it has raised angel funding from Gaurav Gandhi, an avid angel investor with investments ranging across fintech to proptech and digital marketing veteran, Vivek Bhargava. With the outbreak of Covid-19, the ensuing security risks and administrative challenges of a largely remote working office culture have proven to be daunting to employees and organizations alike. Providing a solution to ease this, Passwork is a mobile based real-time marketplace for using coworking spaces and workspaces which allows users to book a place to work from near their homes.

Founded in 2019 by Mohit Malara, a Chartered Accountant with experience in investment banking, venture capital and the NBFC sector, Passwork is the Uber for co-working – offering  access to coworking spaces at different locations in multiple cities for a day, a week or a month on the go, with added perks such as unlimited uninterrupted WIFI, unlimited coffee and snacks, concierge service, access to conference and meeting rooms on hourly basis across the 2000+ locations on the platform.

Commenting on the investment, Mohit Malara, CEO & Founder at Passwork said, “We are thrilled to have Vivek and Gaurav onboard Passwork. Today, we are present across 500+ accessible locations and 20,000+ workstations and with this influx of capital, we plan to foray into newer markets and expand the demand network into other countries. The Government norms around occupancy for private offices are not expected to become lenient until March 2021. However, industries such as Banking, Financial Services, Insurance and many more carry huge data security risks which cannot be secured by employees at their homes. With many coworking spaces facing poor occupancy, we leverage our network of coworking brands to deploy a fully functional office for clusters formed based on analysis of corporate’s employee demographics. We provide COVID-safe and security enabled spaces near homes, thereby providing the same atmosphere, amenities and cyber security that an entity would have given at its own facility. We believe this is the future of work.”

In light of recent Government regulations, employees’ conveniences and safety, several companies are either vacating or asking for rental waivers. Meanwhile, employees have been grappling with the twin struggles of lower productivity due to electricity cuts, poor WIFI, and cramped houses on the one hand, and on the other, the equally detrimental issue of worker burnout, leading to long-term health and career regression. Aiming to fill this gap, Passwork provides an end to end solution which caters to the needs of both employers as well as its employees – such as space, mobility, safety and network security.

Through its ‘Walk to Work’ platform, Passwork has initiated a B2B network for offering customized flexible workspace solution and remote workforce management tools to corporates. With the introduction of ‘Walk to Work’, employees will be able to work in an office-like environment with all the necessary supplies and amenities without needing to go to an actual office – allowing employees to do away with all the inefficiencies they face at home and secure the interests of the organization with respect to productivity, security and safety of the employees while also reducing significant costs due to lack of investment into physical and permanent infrastructure.

Gaurav Gandhi, Lead Investor says, “I believe Passwork’s model will completely disrupt the way occupiers look at office space in the future. The secure environment, flexibility and cost reduction are the 3 area’s which not only help corporate reduce lease, overheads, admin costs but also offer the employee’s and freelancers an option of being in a professional work environment at their convenience. Passwork has put together a futuristic product and solving major problems for all stakeholders.”

“The Passwork investment is extra special to me – in keeping with the remote working spirit, this is the first time I have invested in a company without having ever met the Founder face to face! And that speaks volumes – not only of Mohit, but also the value proposition of Passwork. The current pandemic has accelerated the need for people to walk to work and Passwork has created a platform where every single person will be able to walk to work at least a few times a week. To me, that is a very powerful offering and one that is clearly the need of the hour”, explains Vivek Bhargava, Lead Investor.

Passwork’s remote workforce management software has been specially designed to help corporates efficiently manage their remote workforce by issuing e-passes for employees to come to a particular satellite office, QR code based check-in and check-out to analyze work hours, sharing virtual and physical meeting details on the Passwork app and keeping a tab on meeting hours to avoid work-life imbalance. According to McKinsey, the future of the workplace is increasingly being perceived to be a mixture of flexible leases, flexible space, co-working space and remote work, apart from owned spaces and standard leases. In fact, McKinsey research indicates the percentage of time worked in main and satellite will decline while flex office space and work from home will increase.

Dev Accelerator Launches India's 1st Work-from-Home Co-working Membership

Dev Accelerator LLP (DBA DevX), a coworking space provider in India has launched a 'tech-enabled' Co-working Membership Plan that lets you co-work from home. The motive behind launching this plan is to facilitate a smooth transition from the traditional ways of working to the trending 'Remote Working' culture.

DevX WFH Membership Plan

The membership plan enables individuals to work remotely while staying connected with the team through DevX Collab, an indigenous technology developed by DevX that gives access to multiple work management, video conferencing, & productivity tools. It enables DevX's huge community of members & partners to network with each other.

As a part of the WFH membership, in addition to being able to access DevX's secure workspaces pan India for 3 days in a week, it also delivers a one-of-its-kind Work Pod to their members' home as an effort towards enhancing their WFH experience. The pod is an aesthetically designed cabin, with ergonomic chair, high-speed internet connectivity, exhaust and electricity plug, and a lot more.



Benefits of the Membership Plan are listed as follows:

DevX Collab

• Access an indigenous technology developed by DevX for its community.


• Work Pods


• Experience a private work area designed to enhance your productivity.


• Internet Connectivity


• Benefit from seamless high-speed Wi-Fi network connectivity.


• Allied Services


• Let your business leverage from our wide range of allied services.

DevX Workspace

• Access our vibrant workspaces for 3 days a week across India.


• COVID-19 Insurance


• Get an all-inclusive health insurance plan against Corona Virus.


• Further details about the WFH Membership Plan & Work Pods can be found on our website: devx.work/work-from-home.

On the launch of Work-From-Home membership, Co-founder, Umesh Uttamchandani says, "This pandemic event has made Work from Home a buzz word and being in the business of providing quality and aesthetically designed office spaces, we took this initiative upon us to mitigate the challenges associated with WFH. We've launched a WFH Membership plan that provides the flexibility to efficiently work from home while replicating the entire arrangement of a productive office work environment provided by DevX."

About DevX

DevX has created an innovative framework to assist businesses and boost the startup ecosystem in India. It was established in the year 2017 and started the journey from Ahmedabad. Today, being the largest Co-working Space provider in Gujarat, DevX is spread across various cities in India including Vadodara, Mumbai, Indore, Goa, Pune, Gurgaon, & Hyderabad.

They've had the privilege to cater an elite list of clientele. Few of the names are as follows: DCB Bank, Thomson Reuters, Sharechat, Sugarbox, Mobile Tornado, Afford Plan, QX Global, American Express, and many more.

WeWork India Close to Sign 2400 Seats Office Deal with Commonwealth Bank of Australia

WeWork India is close to sign an office deal with Commonwealth Bank of Australia, an Australian multinational bank with businesses across New Zealand, Asia, the US and the UK. According to the report by Economic Times (ET), WeWork may close deal of 2400 seats office at WeWork's Manyata tech park facility in Bengaluru.

The office-space, which has a 4 years lock-in period, will be fully fitted by WeWork, said the ET report citing three people aware of the deal.

Commonwealth Bank was the first Australian bank to open a branch in Mumbai when it started its operations in August 2010, in partnership with Tata Consultancy Services, BaNCS platform, to provide trade finance, remittance and foreign exchange services attracted by the high potential for trade between Australia and India.

According to ET, WeWork India, which is a fully-owned subsidiary of Embassy Group, plans to raise $200 million (about Rs 1,421 crore) to expand its India operations. The company currently has 40,000 members and 57,000 desks in 34 locations.

Earlier this month it was reported that WeWork India will lay off around 20% of its total 500 employees with effect from June to cut its operational costs after its business hit by the coronavirus outbreak.

In February this year, WeWork partnered with upGrad, India’s leading online higher education company, to introduce industry-relevant programs and higher learning to the workplace, with an objective of enhancing member experiences and advancing their professional journeys

Co-Working Space Operators form Indian Workspace Association amid COVID-19 Crisis

Faced with liquidity crisis and loss of business due to the nationwide lockdown, the country's top co-working space operators have come together to form an association to chalk out strategies to deal with immediate cash-flow challenges and future roadmap.

The industry body named Indian Workspace Association (IWA) will represent the problems faced by the industry to the government as well as other stakeholders.

The co-working segment has been growing at a rapid pace over the past few years. The operators take space on lease from realty firms or landlords and then sub-lease to their clients which are startups, freelancers and corporates.

However, following the lockdown, these players are facing a huge liquidity crisis as many of their clients have shown reluctance in paying rents and some of them even cancelling agreements.

"Co-working and flexible workspace providers across the country have come together to form the Indian Workspace Association, that will be the de-facto voice of the workspace industry in India," the industry body said in a statement.

Although the association has been formed to represent and protect the wider interests of the industry as a whole, the IWA's immediate goal is to define protocols and practices for the industry to address the ongoing COVID-19 crisis.

The association would plan strategies for the way forward in a post-coronavirus world, it said.

IWA will represent majority of companies in the co-working and flexible workspace segment. It currently comprises more than 40 players - at both national and state levels.

The association is led by a core team of six members who have been nominated by the larger group to advocate the industry's concerns and put forth demands to the key stakeholders.

Karan Virwani, CEO, WeWork India; Akshit Mehta, Founder, Vorqspace; Pranay Gupta, Co-founder, 91 Springboard; Shesh Rao Paplikar, CEO, BHIVE Workpsace; Srishti Dhir, founder, Hub and Oak; Vikas Lakhani, Co-founder, InstaOffice and Yatin K Thakur, Founder, CoworkIn are the six members.

"Like most industries, the co-working industry has also been considerably impacted by the COVID 19 pandemic. Thus, we felt the need to create an association to synergise our efforts to help us present our unified position in front of our partners, industry stakeholders, as well as the government," said Pranay Gupta.

In the current environment, he said the IWA's top priority is to seek government support, rent waiver from landlords and discounts from service providers.

"We are liaising with the relevant ministries and authorities to get support and relief for the industry, which could eventually be passed on to our clients," Gupta said. PTI MJH

WeWork Sues Japan's SoftBank for Backing Out of Deal

Office-sharing giant WeWork on Tuesday sued SoftBank claiming the Japan-based technology investment group breached its contractual obligations by backing out of a USD 3 billion rescue plan.

The lawsuit filed in a US court in Delaware came just days after SoftBank said it was backing out of the plan to purchase WeWork shares to shore up the finances of the struggling sharing economy giant.

WeWork's board of directors called the SoftBank action "a clear breach of its contractual obligations" under an agreement between the two firms last year as well as a breach of SoftBank's fiduciary obligations to the firm's current and former employees who were to sell their equity.

The complaint alleges SoftBank yielded to pressure from "activist investors" and made the move after it had "received most of the benefits" under the deal, including control of WeWork's board.

WeWork is asking the court to force SoftBank to live up to the agreement or pay damages.

Last week, SoftBank said it was terminating the agreement, claiming WeWork failed to live up to its obligations and cited "multiple, new, and significant pending criminal and civil investigations" surrounding WeWork and its co-founder Adam Neumann.

Neumann was to have received an estimated USD 1 billion from the SoftBank investment.

The deal also would allocate some USD 450 million to current or former WeWork employees who have equity in the group.

A WeWork board special committee said it "regrets the fact that SoftBank continues to put its own interests ahead of those of WeWork's minority stockholders."

The move by SoftBank marked a dramatic turn of events at troubled WeWork, once hailed as a shining unicorn valued at USD 47 billion.

Things began to unravel last year as WeWork lost cash and cancelled its share offering, with Neumann pushed out -- albeit with a generous package.

The tender offer would have most benefited Neumann, his family, and major institutional stockholders like Benchmark Capital, SoftBank Group said.

SoftBank has said its decision would not impact the day-to-day operations of WeWork.

The Japanese firm and its Vision Fund have already committed more than USD 14.25 billion to WeWork.

The lawsuit claims SoftBank took the action in part due to growing losses in its other investments, including its massive technology investment fund.

SoftBank has seen its stock sink in recent weeks on worries about the liquidity of the heavily indebted company, as global financial markets are roiled by fears about the economic consequences of the pandemic. (AFP)

Navigant BPO Diversifies & Launches Co-working Space 'Onward Coworkx'

Navigant Technologies, a global outsourcing company has unveiled the flagship property of its co-working startup, Onward Coworkx, in Okhla today. Onward Coworkx, is the first co-working space in India that is providing formal, privacy-focused environment coupled with business ecosystem for startups & entrepreneurs to grow. This will help the startups & entrepreneurs to outline their go-to-marketing strategy, customer acquisition, hiring technical & non-technical staff. They will also be able to take advantage of various in-house services such as software development, technical support, call centre, recruitment services etc. 

[gallery type="slideshow" columns="1" link="file" size="large" ids="138806,138805,138804,138803"]

With a capacity of more than 500 seats, this facility can accommodate teams of all sizes, may it be an individual consultant, a start-up or an established company. This space offers different packages – private cabins, dedicated desks, free desks, day & night passes, customized as per the needs of customers. The price of a seat ranges from INR 7,000 to INR 40,000, with a day pass of INR 1299/-.

[caption id="attachment_138807" align="alignleft" width="300"] Ankur Bhatia , Founder of Onward Coworkx[/caption]

According to Ankur Bhatia, Founder – Onward Coworkx, “Co-working spaces in India are bringing fortunes to startups & entrepreneurs. We not only offer plug-and-play solutions but we also create the ideal business ecosystem to develop businesses with the help of various in-house services we have to offer”. He further added that “The need of the hour for startups & entrepreneurs is a collaborative environment. Such an environment consequently leads to a decrease in operational costs of businesses while plunging their revenue & profitability”. 

Onward Coworkx strives to provide all the members with a dynamic work environment which would boost productivity and increase efficiency. This would help the businesses to scale-up operations and reach their maximum potential. The work space has been designed to promote a professional environment. The interiors also feature decorated planters which provide a work friendly atmosphere. The highlight of the space is the art & wall paintings at the terrace which accentuate message of collaboration. 

About Navigant Technologies: 

Navigant Technologies Private Limited (NTPL) is a global outsourcing firm headquartered in Gurgaon, India. It was founded in 2003 with the objective of delivering high quality services for clients looking to outsource their business operations. With a dedicated team of over 500 professionals, Navigant Technologies today caters to a complete range of BPO & KPO services for its clients spread across UK, USA, Canada and India. The BPO currently employs 500 people at a 15,000-sq. ft. facility located in Udyog Vihar, Gurgaon. 

About Onward Coworkx: 

Onward Coworkx is a co-working community which aims to nurture startups and small businesses by supporting them to overcome their entrepreneurial challenges. It is founded by Ankur Bhatia, founder of Navigant Technologies (Global Outsourcing firm), who has proficiently raised and mentored successful teams for more than 25 years.

Flexible Workplace Demand to Jump 5-times to 130-140 Mn Sq Ft by 2025: Report

Demand for flexible workspace in India is estimated to jump five times by 2025 to 130-140 million sq ft, accounting for one-third of global co-working inventory, according to a report by property consultant Cushman & Wakefield (C&W).

The global real estate consultant released its report 'Redefining future workplaces” at Workplace Trend Conclave held here on Friday.

"The phenomenon of co-working has been the proverbial storm in the teacup for commercial real estate in India," the report said.

India is one of the largest flexible workplace markets in the world, the NYSE-listed consultant said.

"The rise of millennials has led to the existence of a strong start-up and entrepreneurial culture. They need a workplace that inspires innovation and ideas, offers flexibility in terms of timings and location, while being integrated with technology for communication and collaboration," said Anshul Jain, Country Head & Managing Director-India, C&W.

The consultant has estimated the global flexible workspace inventory at about 125 million sq ft, of which nearly 27 million sq ft is located in India.

There are 1,000 operational co-working centres, with a capacity of over 4 lakh seats, across top six cities -- Delhi-NCR, Bengaluru, Mumbai, Pune, Hyderabad and Chennai.

The number of flexible space operators has risen from single digits to about 350 over the last 3-4 years.

"Flex space is likely to grow to 130-140 million sq ft by 2025, with India accounting for nearly one third of the global co-working inventory," the report said.

The number of operational co-working centres will more than double over the next five years, it added. C&W estimated user base of flexible workspaces to jump 10 times to nearly 3 million by 2025.

At present, 65-70 per cent of demand for co-working spaces comes from large corporates, 15-20 per cent from small & medium enterprises and 10-15 per cent from freelancers and startups.

"As the trend gains momentum, there are now tangible changes to occupier portfolios and growth strategies, workplace design trends and above all the emergence of using space as a service and not a commodity anymore," the report said.

Cushman & Wakefield is a leading global real estate services firm, with 48,000 employees in about 400 offices and 70 countries. In 2017, the firm had revenue of USD 6.9 billion. PTI MJH

Digital Broking & Co-Working Platform Qdesq Raises Funds from Silicon Valley-based JLL

Silicon Valley-based venture capital arm of JLL, JLL Spark, has invested an undisclosed amount in India’s largest flex-space technology platform, Qdesq. Through this investment, the proptech focused fund has marked its first India focused investment, it said in a statement today.

Founded in 2015 by Paras Arora and Lavesh Bhandari, Qdesq is a digital platform that allows companies to transact flexible workspaces, managed workplaces, virtual offices and individual offices. The company lists India’s largest inventory of available flex spaces in near real time and currently transacts one desk every 20 minutes on behalf of corporates looking to avoid locking themselves into long term leases. At present, Qdesq has approximately 2,200 centres, lists over 500,000 desks in near real time, covering the top 35 Indian cities and has rapidly emerged as a dominant distribution channel for co-working operators like WeWork, 91Springboard, AWFIS, Regus, Smartworks, Innov8 and Oyo.

With this investment, the company plans to invest heavily into the analytics capabilities of its technology platform to allow enterprises to better self-solution their future real estate footprint and to allow commercial asset owners to create viable co-working and flex spaces within commercial complexes.

“The investment in Qdesq taps into the growth opportunity that the flexible workspace segment offers. JLL’s strong corporate relationships across the globe, combined with Qdesq’s technology platform and preferred partnerships with flex space operators, will help us provide a more comprehensive solution to our clients across 35 cities in India,” said Ramesh Nair< /b>, CEO & Country Head – India, JLL.

Demand from corporates, startups and entrepreneurs in India has resulted in a huge jump in the co-working share in total office leasing. According to a JLL study, the share of co-working office leasing has risen to 15 percent in the first six months (January to June) of 2019 from the 8 percent level seen in 2018. The segment has absorbed 10.1 mn square feet of cumulative space since 2017 to the first half of 2019, according to the findings.

“Qdesq sits at the cusp of one of the larg est disruptions in commercial real estate. Companies are no longer interested in inefficient leases with long lock-ins. Businesses are increasingly looking for the flexibility to easily expand or contract their footprint. With their comprehensive inventory of real time availability of managed spaces, Qdesq is able to dramatically reduce the lead-time to occupancy for companies,” said Anuj Nangpal, Asia Pacific Lead, JLL Spark.

As per JLL estimates, currently there are approximately 325 to 330 flexible workspace operators in the top seven cities in India. The study finds that the average size of transactions in the co-working segment increased from 37,000 square ft in 2017 to 52,000 sq ft in 2018 and further to 97,000 sq ft in the first half of 2019.

“The average time it takes to close a fixed time lease today is anywhere between three and six months. In comparison, Qdesq is able to close even large enterprise occupancy requirements within days. Our transaction volumes have been growing over 400 percent year-on-year and, with our shared vision with JLL, the opportunity is to scale the platform across Asia,” said Paras Arora, Co-founder of Qdesq. The company recently launched in the Philippines and plans to be present in most of Asia’s gateway cities in the near term.

Qdesq has solutioned real estate occupancy requirements for a wide variety of clients ranging from super high growth technology companies like Zomato, Phonepe and Zerodha to more established corporates like Bank of Baroda, Nagarro and Hyundai. India is one of the largest potential markets for co-working spaces in Asia, second only to China.

NA Shah Associates and Fortitude Law were advisors to the transaction.

Incuspaze, SIDBI Collaboratively Launch Delhi Centre named @WORKSPAZE

Incuspaze, a chain of premium co- working spaces launched a new property named Workspaze in collaboration with Small Industries Development Bank of India (SIDBI). The launch was held in presence of Shri. Mohammad Mustafa, Chairman and MD, SIDBI.

This association aims at building an ecosystem that will ensure high functional office space to channel growth for MSMEs and Start-ups.

Commenting on the new partnership, Sanjay Choudhary, Founder & CEO of Incuspaze said, “We are delighted to launch the new centre with SIDBI and extremely excited to step into a new avenue. We believe that this partnership will open route of opportunities for new as well as established businesses. We synced our ideologies with SIDBI to facilitate a hassle-free co working environment for MSME’s and provide resources to build strong connections with other industries create ideas and develop business. We look forward to a long and fruitful association.’’

Talking about the collaboration, Shri Mohammad Mustafa, Chairman and MD, SIDBI said, "This is yet another initiative of ours to handhold entrepreneurs who are at the initial stage of their entrepreneurship journey. During the first 18 months of entrepreneurship journey, an enterprise may face several challenges. At SIDBI we want to handhold entrepreneurs during this period so that they have a smooth ride in their venture. Our aim is to expand the scope of @Workspaze even in other key cities of the country. We have already started work on a similar arrangement in Mumbai."

Sharing his thoughts about the collaboration, Srijan Pal Singh, Former Advisor to Late APJ Abdul Kalam said, “The Indian youth is booming with talent, passion and ideas for ventures that have the capability to reshape our country. Over the years I have seen dreams being born and crushed due to the lack of resources and guidance that teething ventures need. I am glad to be a part of this initiative that is supporting MSME’s and the dreams of the entrepreneurs attached with them. I wish Incuspaze and SIDBI all the best for this venture (@WORKSPAZE) and I truly hope that they can fulfill the goals they have set-out to achieve.”

The centre is set up in over 3000 Sq ft. area and is equipped with 100 seats with conference, training and meeting rooms.

ABOUT INCUSPAZE

Incuspaze is a chain of premium co- working spaces currently situated across key tier 1 and tier 2 cities in India. Brainchild of first- generation entrepreneur Sanjay Choudhary, the company was established in 2017 with a vision to develop a trusted network of co-working spaces across 30 Indian cities and 8 cities abroad by 2022.

Homegrown Co-Working Firm Smartworks to Raise $35 Mn Growth Fund

Mumbai, Aug 25 (PTI) Homegrown shared office space provider Smartworks plans to raise USD 35-40 million in a mix of debt and equity to fund its plans to nearly double the portfolio to 5 million sqft by March, a top company official has said.

The three-year-old Noida-based company is also eyeing a twofold increase in revenue for the fiscal to Rs 320 crore, managing director Neetish Sarda told PTI.

"With 2.8 million sqft, we are the second largest after the multinational Wework which has around 3 million of space under it portfolio.

We now plan to increase the portfolio to 5 million sqft by the end of this fiscal year for which we will be investing close to USD 35-40 million which will be mopped as equity and debt.

"Access to funds from banks and institutions like NBFCs is easy. A lot of private equity investors are also approaching us and we are evaluating them, but we cannot disclose more that at this moment," he said.

Last year the company closed with revenue of about Rs 110 crore with a profit margin of around 10 percent.

"Our pan-India rentals on average are about Rs 10,000 a seat. We are confident of closing this fiscal with Rs 320 crore topline and profit margin of 20-30 percent," Sarda said.

The company, which is currently present in nine cities including Delhi-NCR, Mumbai, Hyderabad, Bengaluru and Pun among others, is also planning to expand into small towns.

"Our immediate focus is consolidating in these nine cities. Then we will also enter one or two small towns but that is not going to be of significant scale...we will enter with 20,000-40,000 sqft size," he said.

He said the company will continue to focus on enterprises or MNCs as they offer better margins.

It competes with Wework, Regus, Cowrks, Awfis, Oyo Workspace, Goodworks, Gowork, Skootr, Indiuube, Avanta, 91Springboard, Creator's Gurukul, Gohive, Oneculture, Plus Offices and Spring House Coworking among others.

Just yesterday, Thailand-based real estate firm MQDC announced that it is entering the Indian property market by taking on lease 22,000 sq ft from realty major DLF to start its first co-working space in the national capital region. MQDC has opened its first centre-- Whizdom Club--in Greater Kailash-II in south Delhi in a 22,000 sq ft area leased out from DLF and offers 400 seats.

Early this month, Co-working startup GoWork had raised $53 million in debt funding from US-based BlackRock and CLSA Capital Partner to expand its business. Prior to that, GoHive had raised ₹ 2.5 crore from investors to expand its operations. It currently has seven co-working centres in the national capital region.

In this month only, Co-working operator Plus Offices had announced that it is looking to raise up to USD 10 million for expansion abd has invested $2 million to set up two centres in Gurugram.

Thailand's MQDC Enters India with 1st Co-Working Centre in Delhi, Leases 22,000 sq ft from DLF

New Delhi, Aug 23 (PTI) Thailand-based real estate firm MQDC is entering the Indian property market by taking on lease 22,000 sq ft from realty major DLF to start its first co-working centre in the national capital, a senior company official said on Friday.

Magnolia Quality Development Corporation (MQDC) develops, invests in, and manages residential, mixed-use, commercial, and hotel projects. It develops projects under brands like Magnolias, Whizdom, The Aspen Tree, and Mulberry Grove,

"We are entering into Indian real estate market with our first co-working centre named 'Whizdom Club' at Greater Kailash-II in South Delhi. We have taken 22,000 sq ft area from DLF to open this facility comprising over 400 seats," MQDC Director Chulamas Jitpatima (Amy) told PTI.

She said the company has invested Rs 12 crore to set up this co-working centre.

"We are targeting students, start-ups and small and medium enterprises as well as corporates," Amy said, while expressing confidence to reach 100 per cent occupancy levels within next six months.

The company is yet to finalise price per seat but will offer discounts to students and start-ups, she added.

"With the launch of 'Whizdom Club', we aspire to create a space that not only hosts creativity and ideas but also nurtures and supports all members for a better tomorrow. The aim of this innovative space will be to provide a co-working hub that will help corporations, rising entrepreneurs, aspiring students, and SMEs (small and medium enterprises) to meet their business and networking goals in an inspiring environment," Amy said.

MQDC Vice-President (Whizdom Society) Krissayuth Chavavitayatham said, "Delhi is our first location as the city offers demographic diversity, besides being the fastest-growing metropolitan city with a robust ecosystem and a thriving business culture."

The co-working segment has grown rapidly in India during the past three-four years because of rising demand of flexible workspace from start-ups, professionals and corporates. Already, the total stock of such space has reached 23 million sq ft across seven major cities in India.

WeWork, Regus, CoWrks, Awfis, Smartworks, OYO Workspace, GoodWorks, GoWork, Skootr, IndiQube, Avanta, 91 Springboard, Creator's Gurukul, GoHive, OneCulture, Plus Offices and Spring House Coworking are major players in this segment. PTI MJH

OYO Workspaces Enters Hyderabad with New Co-Working Centre of over 700 seats

New Delhi, Aug 22 (PTI) OYO Workspaces, part of hospitality firm OYO group, Thursday said it has entered Hyderabad market with the start of a new co-working centre with capacity of over 700 seats.

The new centre will be under Innov8 brand, which the company has recently acquired.

Now, Oyo Workspace has 22 centres with over 15,000 seats across 10 cities in the country. It operates under three co-working brands namely Workflo, Powerstation and Innov8.

Last month, OYO announced its entry into a new vertical OYO Workspaces and said it aimed to have 50 centres across the country with a total seat count of around 35,000 by the end of 2019. ''

With the acquisition of Innov8, OYO introduced a multi-brand approach with two other coworking brands -- Powerstation and Workflo, which designed to meet the needs of over 80% of the working population in the country.

While Powerstation is a vibrant yet professional Co-working Solutions fully managed by Oyo for medium and large businesses, startups, and freelancers, Workflo on other hand is budget-friendly, functional co-working solutions catering to the aspirations of a rising India.

Oyo had earlier said that it is set to open the doors to our 21+ workspaces with more than 15000 seats across 10 cities of India. Of these, Innov8 is spread across 6 cities of Delhi, Noida, Gurgaon, Bengaluru, Chandigarh, and Mumbai, with 16 centers hosting over 600 employees of reputed Indian and multi-national brands. Powerstation has one center in Gurgaon with a capacity of over a 1000 seats and Workflo has 4 centers across NCR, Hyderabad, Bengaluru, and Goa with a hosting capacity of over 1500 seats.

PTI MJH

Flexible Workplace Operators lease 52% More Office Space in H1-2019 at 4.6 mn sq ft: CBRE

New Delhi, Aug 22 (PTI) Office space leasing by companies providing flexible workplace rose 52 per cent to 4.6 million sq ft during the first half of this year across seven major cities on rising demand for such space from startups and corporates, according to property consultant CBRE.

The leasing of office space by such operators stood at 3 million sq ft in January-June 2018 and 8.3 million sq ft for full last year across seven cities namely Delhi-NCR, Bengaluru, Mumbai, Chennai, Hyderabad, Kolkata and Pune.

Flexible workspace has been classified as business centres, co-working, managed office spaces and hybrid spaces.

"The overall flexible space take-up in India reached about 4.6 million sq ft in H1 2019. During this period, Bengaluru accounted for almost 30 per cent of the leasing by flexible space operators," CBRE said in a report ‘India Flexible Space Digest - H1 2019'.

The total stock of flexible workspace has reached 23 million sq ft.

"India is currently one of the leading flexible space markets in APAC and we expect increasing investments in this segment going forward. Office stock is expected to grow from 600 million sq ft in mid-2019 to a billion sq ft by end of 2030 and flexible space will comprise 8-10 per cent of the total office stock," said Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE.

As per the report, the number of small-to medium-sized deals (20,000-100,000 sq ft) rose from 52 per cent in January-June 2018 to 61 per cent in the same period of 2019. Moreover, the number of large-sized deals (exceeding 100,000 sq ft) increased from 6 per cent to 13 per cent year-on-year in the first half of this year.

"Customized enterprise solutions provided by operators offer a competitive advantage as well as enable them to retain tenants for a longer term. This is expected to continue to attract established corporates towards the flexible space segment," said Ram Chandnani, MD, Advisory and Transaction Services India, CBRE.

The consultant highlighted that co-working operators are now also focusing on tier-II cities such as Jaipur, Chandigarh, Lucknow, and Goa. PTI MJH

Spring House Coworking Leases 21,000 Sq. Ft. Space at Golf Course Ext Road in Gurugram

Spring House Coworking, a chain of collaborative office spaces, leases 21,000 sq. ft. on the Golf Course Extension Road, Gurugram at Good Earth Business Bay to open up its 15th co-working space in North India and 8th in Gurugram.

As a part of its expansion spree, Spring House has taken this 21,000 sq. ft. space which will consist of 350 seats. The price of the seat will start from INR 8500 to INR 12,500. The company already has 14 operational co-working spaces in Delhi, NOIDA, Gurugram and Lucknow, which are spread over 2,00,00 sq. ft. and has more than 2,800 seats.

“We recently opened Spring House Coworking’s flagship property of 30,000 sq. ft. at MG Road, Gurugram and now taking another property on lease in the same city proves the growing demand of the co-working spaces here. This hub will be operational by the end of September 2019”, said Mukul Pasricha, Founder, Spring House Coworking Pvt. Ltd.

“This 21,000 sq. ft. will provide seats in various packages - open seats, private seats and daily basis, meeting rooms, conference rooms and common areas.”, added Pasricha.

Company plans to come up with more properties in Bangalore, Hyderabad and Mumbai by the end of FY 2019-20.

Founded in June 2014, Spring House is a chain of collaborative work spaces, spread across 2,00,000 sq. ft. at different locations in Delhi, Gurugram, NOIDA and Lucknow. The coworking provides a nurturing environment for start-ups and entrepreneurs to grow. The company spearheaded from a 40 seater co-working space in Gurugram to offering more than 2800 seats currently in the National Capital Region.

Spring House Coworking is more than just a place to work. It is a movement to bolster the growing start-up ecosystem within the country. Whether it is a small business, a freelancer, wandering worker or just a simple dreamer, there is a mélange of private offices, co-working desks, meeting rooms, managerial cabins and virtual offices to choose from. One can easily book by the hour, day.

or multiple months. With 14 diverse spaces in and around Delhi and NCR, one can gain access to all the benefits of an office space along with a fun, efficient and friendly environment to work at. The company places sheer confidence in the fact that, while you focus on your to-do’s it takes care of the rest.