91Springboard Adds Over 1.7 Lakh Sq Ft to Its Portfolio, Accelerates Growth in Key Markets

91Springboard, India’s premier workspace innovator, has announced a strategic expansion, adding over 1.7 lakh sq. ft and ~3,600 desks through six new hubs in Mumbai, NCR, and Pune. This milestone propels the company’s footprint to 40 hubs across the country and reinforces its position as the go-to partner for businesses seeking premium, flexible, and built-to-suit workspaces in India’s most coveted commercial districts. 91Springboard caters to entrepreneurs, freelancers as well as mid and large-sized enterprises, while also serving as a launchpad for several startups across India.

91Springboard has consistently offered thoughtfully designed workspaces delivering premium and value driven solutions, synonymous with warmth and efficiency, personalized to the diverse and evolving needs of businesses. With this expansion, 91Springboard now offers ~30,000 desks across more than 1.5 million sq.ft. of space in India.

Strategic Expansion: Location Highlights

Delhi 

Located at Prius Platinum in Saket, one of South Delhi’s most prominent business addresses, this hub offers excellent metro and road connectivity to key NCR micro-markets, catering to businesses that value accessibility and a premium address. With its strategic location near both social and business districts, this premium offering makes for an ideal address to establish a workplace.

Gurgaon

Nestled among Fortune 500 companies and global tech giants, the DLF 6, Cyber City hub offers a prestigious business address, seamless connectivity, and access to a vibrant ecosystem of dining and retail-all in the heart of Gurugram’s most dynamic commercial district.

The Magnum Global Park, Golf Course Extension Road hub offers convenient metro connectivity, hassle-free parking, a delectable food and beverage offering, and a Grade A building. This new space brings together all the perks and amenities needed for a modern, high-functioning office.

Mumbai

Expanding its footprint in Mumbai, one of 91Springboard’s new hub is located in proximity to the brand’s existing workspace in the Kalina–Bandra Kurla Complex corridor. The location offers seamless connectivity to the metro and public transport. Convenient parking, proximity to the commercial business district of the city, a variety of exquisite dining options, and more, make it a prime choice for enterprises seeking both convenience and a credible business address.

The second hub at Corporate Avenue, Andheri, is in a prime commercial zone with excellent connectivity to both the metro and the airport. Spread across two floors, it offers fully managed workspaces and customisable private offices, thoughtfully designed to cater to the needs of startups, SMEs, and growing enterprise teams.

Pune

Strategically located just under a kilometer from the Metro, right on NH48 and close to the Pune-Mumbai Expressway, the SBC hub in Baner offers a prime location for growing businesses. This hub features private suites and built-to-suit options for medium to large teams. Baner’s robust infrastructure and dynamic business ecosystem make it a top destination for companies expanding in Pune.

“These new hubs are more than just office spaces-they are dynamic ecosystems designed to fuel innovation, collaboration, and growth. As companies expand their footprint across India, we are delivering flexible, intuitive workspaces that feel like home but work like a powerhouse. This expansion marks a pivotal moment in our journey to redefine the future of work in India.” said Sameer Singh, Chief Operating Officer, 91Springboard.

91Springboard operates across two distinct workspace segments, setting new standards to cater to the entire spectrum of business needs from startups and SMEs to large corporates. First is ready-to-use private office suites and flexible seats: Plug-and-play workspaces for immediate occupancy, ideal for freelancers, startups, and growing teams seeking value-accretive options without compromising on quality or community. Second is built-to-suit customized offices: Premium, fully tailored environments crafted to client specifications, perfect for enterprises requiring scalable, branded spaces with high-end amenities and operational support. This dual-pronged approach allows 91Springboard to cater to diverse budgets offering solutions at two distinct price points - value accretive and premium, ensuring-flexibility, customization, and cost-efficiency.

With this expansion, 91Springboard continues to elevate workspace standards-offering entrepreneurs, startups, and enterprises a seamless blend of privacy, flexibility, and premium service. Each hub is thoughtfully crafted to boost productivity, fast 22 er creativity, and build thriving business communities. It’s all here at 91Springboard.

WeWork India Commemorates the Launch of its 50th Workspace by Foraying into the National Capital

The launch of Eldeco Centre marks WeWork India’s entry into New Delhi, their seventh location

Eldeco Centre is spread across 54,000+ sq. ft with over ~700 desks

WeWork India, the leading workplace provider, today announced a significant milestone as it unveiled its 50th workspace in New Delhi. The new building offers dynamic workspaces tailored to changing business needs, spanning over 54,000 sq. feet with ~700 desks. The newly built Eldeco Centre is located in close proximity to Malviya Nagar metro station, easily accessible, and offering state-of-the-art infrastructure and unmatched F&B experience, marking WeWork India’s entry into New Delhi.

As a notable business hub, the capital city experiences a robust demand for workspaces, indicating the rising need for flexible workspaces. The launch of Eldeco Centre marks an important achievement in WeWork India's journey to transform the way people work and collaborate in the country. Building on the profitable growth momentum, Eldeco Centre offers expertly designed technology, flexible workspace solutions and community catering to the varied needs of enterprises and small businesses alike.

Eldeco Centre 

Eldeco Centre

Commenting on this milestone, Karan Virwani, CEO, WeWork India said, “The launch of our 50th workspace marks a massive milestone for WeWork India and the impact we have made on the flex-space industry. When we opened our first building in 2017, we set out with an objective of revolutionising the way India works and over the course of these 50 workspaces, we have achieved that goal while being sustainable and profitable. The past few years have clearly highlighted that the future of work is flexible, and India Inc is increasingly adopting flex working as a way of life. This is a thriving time for the workspace industry with demand at an all time high, and it was the ideal time for us to enter New Delhi. As we grow, we will continue to provide the finest and most innovative workplaces to businesses of all sizes.”

With a focus on innovation and custom product solutions, WeWork India is poised to continue its growth trajectory and drive the evolution of the flexible workspace industry in India. The continued expansion across cities exemplifies WeWork India’s reliability as a brand and it is a reflection of its strong relationships with all stakeholders, including landlords, IPCs and members.

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 6.5 million sq. ft of assets signed across 50 locations in 7 cities - New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune and Hyderabad.

DevX Launches 2nd Co-working Space in Mumbai

• The 2nd centre is spread across 30,000 sq feet
• Total Assets Under Management – 7 Lakhs Sq feet
• Pan India presence with 25+ Centres across 11 cities
• To double India portfolio by investing Rs 60 crore

DevX, Gujarat’s largest Managed Office Space provider, today announced the launch of it’s 2nd Coworking space in Mumbai – a 30,000 sq feet, 400 seater centre in Andheri East. DevX will further augment this with additional 50,000 sq feet within next 1 year. To further expand it’s national presence, DevX plans to double it’s India portfolio by investing Rs 60 crore., 

Recently feted as Gujarat’s leader in the Managed office space segment, DevX is a co-working space cum accelerator founded in September 2017 by 3 entrepreneurs Rushit, Umesh Parth (the RUPaiyya trio as they are known in the ecosystem) and one listed entity: Dev Information Technology Ltd. The company was envisioned as a Startup Accelerator focussed on nurturing innovative startups by providing them with all requirements. Positioning DevX as an equal partner in growth, the company supports through their allied strategic partnerships and services. The different initiatives of DevX are thus structured to build synergies, enabling cross-pollination of ideas as a means of collaborative growth and development. The company’s initiatives address different requirements across the value chain.

Speaking on the launch, Mr Umesh Uttamchandani, Co-Founder – DevX said, “Launching our 2ndrd centre in Mumbai helps us deepen our penetration and reaffirms our core values of offering world-class office infrastructure with an immersive experience. We are proud to have global firms like Tim Hortons, IEX, QX Global & Germin8 at the 2nd centre, helping us setting standards for the segment to aspire to. With our stated business goal of being the partner of choice for GCCs & ODCs, I am excited about the future of the Industry. Growth-centric corporates are increasingly opting for managed workspaces, which perfectly meshes with our philosophy of offering best-in-class work-space experiences at competitive pricing. With 20 centres across India, DevX will double it’s India portfolio by investing 60 crore.”

Reaffirming these views & commenting on their experience, Mr Navin Gurnaney, India CEO, Tim Hortons, said, “We are really excited to be at DevX centre for the vibe, world class facilities and immersive experience it offers. At Tim Hortons we are very enthused, selective and possessive about the work environment, culture and vibe – which the DevX team absorbed & delivered on- totally! From this Mumbai centre we look forward to expanding rapidly across India”.

Opining about their experiences, Mr Chandresh Panchal, Senior Vice President - Employee Services, QX Global, said, “For us at QX Global it was like coming home, when we decided to have a new Mumbai office. We are already there at DevX centres in both Ahmedabad and Noida, so it was a natural fit for us. We are excited to partner DevX in our 3rd team location with them and look forward to continued world-class experiences here”

Putting it in perspective, Mr. Satyanarayan Goel, Chairman and MD, Indian Energy Exchange, stated: “Managed workspaces offer futuristic solutions for organisations to optimise resources and focus on building their business. I am confident that the world-class facilities and infrastructure provided by DevX centre will enhance our team’s coordination and collaboration, leading to increased productivity and satisfaction.” As a core part of the ecosystem, DevX also provides, round the year, a platform for industry, academia, professionals and companies to hold hackathons, seminars, events etc…to address trends and issues. The company is planning further expand and thus consolidate it’s pan-India presence by 2022 end."

About DevX:

DevX is a co-working cum accelerator envisioned to provide world-class, best-in-breed services to its clients. Firmly rooted in the ethos of collaborative growth through partnerships, DevX offers immersive accelerator services across the value chain.

DevX Emerges as Gujarat’s Top Co-working Space

RuPaiyya Trio - Rushit Shah, Parth Shah, Umesh Uttamchandani

• Emerges as Gujarat’s Top Co-Working Company
• 2000 seats across Ahmedabad & Vadodara
• Additional 900 seater Managed Office Space planned
• Planning a pan-India presence by December 2021 with 15 Centers 

Ahmedabad, January 21, 2021: DevX, the Co-Working spaces company, today emerges as Gujarat’s top and largest provider in the Co-working and Managed office space segment. DevX is a co-working cum accelerator founded in September 2017 by 3 entrepreneurs and one listed entity: Rushit, Umesh Parth (the RUPaiyya trio as they are known in the ecosystem) and Dev Information Technology Ltd.. 

The company was envisioned as A Startup Accelerator focussed on nurturing innovative startups by providing them with the all requirements. Positioning DevX as an equal partner in growth, the company supports through their allied strategic partnerships and services. The different initiatives of DEVX are thus structured to build synergies, encouraging brainstorming and cross-pollination of ideas as a means of collaborative growth and development. The company’s initiatives address requirements across the value chain.

Speaking on the occasion, Mr Umesh Uttamchandani, Co-Founder – DEVX said, “Emerging as Gujarat’s leading Co-Working space reaffirms our core values of offering world-class office infrastructure with an immersive experience. The recent plan of the 900 seater capacity has helped consolidate our position and gives impetus to our plans to establish a pan-India presence. We are striving to be there across India by December 2021, with 10 cities and 15 centers. Despite the Pandemic, WFH, lockdown, etc…we have had a good run in 2020 and have been able to start new centres in Mumbai, Hyderabad, Pune and Noida. Offering best-in-class work-space experiences at competitive pricing is one of our hallmarks and we look forward to setting standards for the segment to aspire to.”

Reinforcing these views and elaborating on DEVX’s larger framework, Mr Rushit Shah, Co-Founder, DEVX stated, “At inception, our views and vision were considered incongruent with the market trends – but DEVX’s consistent growth and expansion speak for themselves. As an accelerator it gives immense satisfaction to reaffirm that our belief in partnering startups and enterprises in their growth journeys is justified. Towards that, the other DEVX accelerator services address core requirements across the value chain and further consolidate our vision of being an enabler. Set norms about workspaces are fast being reconsidered - managed workspaces are here to stay and are the future – and our clientele ranging from corporates, SMEs, startups etc…is ample testimony to this. We continue to form, nurture, build and sustain strong relationships with clients, partners and the eco-system, firmly believing in collaborative growth.”

Giving insights into the approach, Mr Jaimin Shah, Co-Founder & MD - Dev ITPL, Member- Nasscom Foundation & Chairman, IT Committee FICCI Gujarat Council, said, “The flexible and managed workspaces segment is growing rapidly, especially given the new normal. We are witnessing a growing interest in the segment – it makes good business sense for companies not to lock up capital in owning or hiring spaces for the workforce, when they can avail best-in-class, world class facilities at managed workplaces. DEVX is pioneering models that address and embrace the major concerns of the ecosystem. They are spurring immense synergies, collaborations and cross-pollination of ideas that have a huge beneficial ripple effect. Going forward, as more & more organizations recognize the importance of being leaner and agile, the managed workspaces segment will be ideally poised to address these concerns, and grow.”

As a core part of the ecosystem, DEVX also provides, round the year, a platform for industry, academia, professionals and companies to hold hackathons, seminars, events etc…to address trends and issues. The company is planning a pan-India presence by 2021 end.

About DEVX:

DEVX is a co-working cum accelerator envisioned to provide world-class, best-in-breed services to its clients. Firmly rooted in the ethos of collaborative growth through partnerships, DEVX offers immersive accelerator services across the value chain.

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

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

Apeejay Surendra Group to Open Co-working Centre in Delhi; Leases 11k sq ft Space

Apeejay Surrendra group on Friday said it has taken on lease 11,000 sq ft area in central Delhi to open a new co-working centre with 220-seating capacity.

The group runs its co-working business though Apeejay Business Centre (ABC), which is part of Apeejay Real Estate, a division of Apeejay Surrendra Group. This is the company's 11th business centre in India taking the total capacity to 2,300 seats.

"We have taken on lease 11,000 sq ft in Barakhamba Road for our new centre. This is the second in the Delhi-NCR," Apeejay Real Estate CEO Shouvik Mandal told PTI.

The company will offer seats in a price range of Rs 22,000-Rs 25000 per month, he added.

"Barakhamba is Delhi's pivotal business hub with an ever-growing demand of curated office spaces for entrepreneurs, start-ups and corporates. We have compassed our expansion in Delhi foreseeing the growing participatory culture and collaborative work zones," Mandal said.

Asked about revenue, he said the Apeejay Business Centre posted a revenue of Rs 20 crore last fiscal, which may rise up to Rs 30 crore this financial year.

The concept of serviced office space model is increasingly becoming favoured in India, Mandal said.

Apeejay Business Centre has now three centres in Kolkata, two centres each in Delhi-NCR, Mumbai and Pune, and one centres in Hyderabad and Chennai. With a consistent occupancy of 85-90 per cent, Apeejay Business Centre's capacity is slated to touch 3,000 seats by the end of current financial year.

Blue Chip corporates like Lenovo, Amazon, Motorola, Kotak Mahindra, BOI AXA, Vistara, Abu Dhabi Commercial bank, Fuji Electric, OLX India, Edelman and Nord Drive Systems are amongst its clients which have used its centres for the last two decades.

Apeejay Real Estate is a leading developer of commercial property, logistics & industrial parks and business centres. It owns and operates commercial, residential, educational, mixed use, fully furnished serviced offices and service apartments, warehousing and industrial developments

Established in 1910, Apeejay Surrendra Group employs over 43,000 people in rapidly expanding operations in tea, hospitality, shipping, and real estate and retail and has diversified into new business initiatives marine cluster, logistics and knowledge parks. PTI MJH

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

WeWork Enters PUNE, Takes on Lease 1.22 lakh Sq Ft Office Space from Panchshil

US-based co-working operator WeWork is expanding its India business and foraying into Pune market where it has taken on lease over 1.22 lakh sq ft office space to launch 24th centre in the country.

According to sources, WeWork has taken 1,22,165 sq ft office space in Panchshil Realty's commercial project 'Panchshil Futura' in Pune, Maharashtra. This new centre in Pune, expected to be launched early next month, will have a capacity of over 2,000 seats, they added.

The update comes at time when WeWork's parent has just filed for an IPO.

At present, WeWork has 23 co-working centres in India with a total capacity 39,000 seats spread over three million sq ft area. It has 9 centres each in Bengaluru and Mumbai, while another 5 in Gurugram, Haryana.

When contacted, spokesperson of WeWork India declined to comment. A spokesperson of JLL India, which facilitated this leasing transaction, too declined to comment.

Last year, WeWork India head Karan Virwani had said that the company offers desks starting from Rs 7,000 and up to Rs 40,000 per month depending on the locations and facilities. He had also mentioned that all of WeWork's centres in India are profitable.

The co-working segment in India has gained momentum in last few years. Already, this segment contributes 15-20 per cent of the total office space leasing.

Apart from WeWork, the other major players include Regus, CoWrks, Awfis, Smartworks, GoWork, , Skootr, Innov8, IndiQube, Avanta, 91 Springboard Creator's Gurukul, GoHive and OneCulture, and Plus Offices among others.

Founded in 2010 by Adam Neumann and Miguel McKelvey in New York, WeWork is a platform for creators, providing members around the world with space, community, and services through both physical and virtual offerings. Globally, it now has presence in 528 locations in 111 cities across 29 countries. On Wednesday, WeWork announced its plans to raise capital through initial public offering. PTI MJH

Oyo Buys Co-Working Startup Innov8 For $30 Million

Hospitality startup Oyo, which has now expanded its hotel chain business to over 80 countries and has also entered co-working segment, has bought local co-working venture Innov8, as the SoftBank-backed hospitality chain looks to venture into the commercial real estate business under the brand name Oyo Workspaces.

Though no official information on financials are disclosed, few media reports suggest that the Gurgaon -based Oyo will buy Innov8 for $30 million in an all-stock deal.

The acquisition comes at time when Oyo's fellow SoftBank-backed co-working giant WeWork is gearing up for an IPO. The recntly launched co-working space unit if Oyo, 'Oyo Workspaces', was launched recently which will directly compete with WeWork in India.

The brand will open over 21 of its shared work spaces in more than 10 cities across the country and it plans to expand presence to over 50 centres by the end of 2019, according to a report on same by NDTV

Oyo said it would offer three options of co-working real estate in the upper-mid scale, mid-scale and economy categories.

OYO, which raised $1 billion last year from investors, including SoftBank and ride-hailing firm Grab, operates hotels in India, China, Britain, Dubai, Indonesia and Malaysia.

The company's revenue jumped nearly three-fold in the last fiscal year, and it said it expects revenue to more than treble every year for the next five years, as it expands locally and in international markets.
COMMENT

New Delhi-based Innov8 offers upmarket shared workspaces, where a private office costs as high as Rs. 64,999 a month, while a desk is sold for Rs. 9,999 per month.

Besides being backed by VCs like LestVentures, Venture Catalysts, Innov8 counts many startup leaders as its independent angel investors which include Vijay Shekhar Sharma(Paytm), Rajan Anandan (Google), Kunal Shah(Freecharge/Snapdeal), Girish Mathrubhootham (Freshdesk), Punit Soni (Ex-Flipkart CPO), Anand Chandrasekeran (Facebook), Sunil Kalra (Via Projects), Utsav Somani (Angel List India), Vishal Gondal (GOQii), Vikram Limaye (IDFC Bank) and other investors. Co-founded by serial entrepreneurs and investors, Dr. Ritesh Malik and Shailesh Gupta, Innov8 provides shared workspaces, community and services to startups, freelancers, entrepreneurs and even divisions of large corporates.

Office Space Leasing by Co-Working Players Rises 42% to 4 Mn Sq Ft in Jan-Jun

Co-working space operators have leased 4 million sq ft of office space across eight major cities during the first half of 2019 to meet rising demand of such flexible area from corporates and startups, according to property consultant Knight Frank.

Co-working players had leased 2.8 million sq ft in the January-March period of last year.

"The co-working story - that is a global phenomenon - has taken root in India," the consultant said in its report 'India Real Estate' released recently.

The report tracks residential and office markets of eight top cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune and Ahmedabad.

"Across the top eight cities, co-working space providers have taken up around 4 million sq ft of office space during H1 2019 which represents a 42 per cent growth over H1 2018 and accounts for approximately 15 per cent of the total space transacted during this period," the report said.

Total office space leasing rose by 26 per cent to 27.4 million sq ft in these eight cities during the first six months of 2019, with IT/ITeS sector accounting for 35 per cent of absorption.

"The co-working sector is growing aggressively on the back of growing demand from regular enterprise occupiers. They have begun to appreciate the design elements, community development, office environment and the vibrancy created in the co-working spaces.

"Many co-working operators have on an average 70+ per cent of their space occupied by larger enterprise clients," Knight Frank India Executive Director (North) Mudassir Zaidi told PTI.

Newer players backed by PE investments are entering the space, which is also leading to newer supply being created in most cities, Zaidi added.

According to the data, Bengaluru was the most preferred location for co-working players where they leased 1.7 million sq ft office space, up 33 per cent from the year-ago period.

Leasing of office space in Hyderabad by co-working operators more than doubled to 0.7 million sq ft from 0.3 million sq ft area during the period under review.

In Chennai, co-working players leased 0.4 million sq ft as against 0.1 million sq ft.

Pune saw 0.4 million sq ft leasing of office space by coworking firms from nil in the year-ago period.

However, co-working players leased less space in the national capital region and Mumbai during the first half of this year.

In National Capital Region (NCR), leasing dropped to 0.5 million sq ft from 0.7 million sq ft, while in Mumbai absorption fell to 0.3 million sq ft from 0.5 million sq ft. PTI MJH

BAL
07141436
NNNN

For $1.9 Bn WeWork is Buying 70% Stake in its India Unit - Report

Ahead of its IPO, co-working space giant WeWork is buying majority controlling stakes of its India affiliate, WeWork India, which is a brand franchisee controlled by Embassy Buildcon, which is owned by real estate billionaire Jitu Virwani and his son Karan Virwani, who is CEO of WeWork India, says a report by LiveMint.

Notably, WeWork India is a joint venture between New York-based co-working space provider WeWork and Bengaluru-based property developer Embassy Buildcon.

According to the report, WeWork is in talks to buy around 70% of WeWork India at a valuation of about $2.75 billion. For 70%, the deal is reportedly costing $1.9 billion, which would be in part cash and part stock, and could close as early as August.

Adding its India unit in to its asset portfolio may benefit WeWork as it preps for its initial public offering (IPO), which the company has filed for in April this year.

In January 2018, Embassy Group gave around Rs 100 crore ( ~ $15.6 million) to WeWork's India unit for 100,00,000 compulsory convertible debentures in return for its investment.

Earlier this year, a report by Times of India had also suggested that WeWork is holding talks to own at least 51% stake in its Indian affiliate.

Last October, it was also reported that Masayoshi Son led Softbank was exploring to buy a majority stake of up to 50% in WeWork for $15 billion.

Within a month after entering India in July 2017, WeWork had secured a massive US$4.4 billion from the SoftBank Group and its $100 Bn Vision Fund, in August of same year.

Later in October 2017, WeWork launched WeWork Labs in India to help early-stage startups in the country get access to investment, resources and mentorship from its global network of members. WeWork Labs functions as a startup incubator within WeWork.

Plus Offices Looking to Raise $5 million to Open More Co-working facilities in India

Coworking Space Is on the upswing not only in Gurgaon but in other parts of the country.

Plus Offices is one of the late entrants in the market but they are one of the fastest growing coworking space in Gurgaon. Plus Offices is now eyeing a bigger pie of the cake in the co-working space. They provide customized productive shared work-spaces and tailor made services for entrepreneurs, freelancers, startups, mentors, consultants, small businesses and large enterprises. The offerings are varied in nature and can be tailor built for various customers according to their work demands.

Started in year 2018, Plus Offices has now expanded its coworking locations in Sector 44 and Sector 67, Gurgaon. With an increase in demand for more coworking office spaces, Plus Offices is now looking to raise funds for expansion in the coworking space domain both in Gurgaon, Delhi & NCR and finally to various parts of the country.

Mr Ravi Kikan, who has been a startup specialist and has had multiple exposures in the startup ecosystem is currently leading Plus Offices in India as a Chief Operating Officer and as part of the founding team based out of Gurgaon. He says " We are looking at building Plus Offices as productive Coworking Space in Gurgaon and hope to become one of the key players in this category by 2019-20, we have aggressive plans across India" . He also added that " Startups, Growth bound ventures, SMBs and Corporates all need coworking and productive workspaces beyond the regular brick and mortar offering which everyone has. To be a differentiator we are planning to help our coworkers in growth and expansion without any hassle or additional pinch on pricing"

Mr Ravi Kikan also runs Startup Specialists Community on LinkedIn https://www.linkedin.com/groups/56766/ which has around 300,000+ global members who are startups, mentors, entrepreneurs, consultants and startup lovers from across the globe. He added " Our bigger objective will be to create a big, vibrant, productive and useful community of startups, growth ventures and SMBs who can co create, collaborate and look at Coworking beyond the regular hot desking and stylish infra structure"

Plus Offices was initially funded through family and friends and some Angel investors from Delhi and NCR. After the first seed round they got into strategic alliances with a couple of real estate players to work as an operating partner to build and expand Coworking Work Space in Gurgaon.

The business has ambitious growth plans, particularly since the opening of its second coworking facility at sector 67, Gurgaon. The current estimated Coworker strength is around 1000+ coworkers at both the Coworking facilities in Gurgaon which is bound to increase to around 3000+ by this year end in both the facilities.

Looking at the bigger opportunity in the Coworking Space domain, Plus Offices is now looking at raising around $5 million to be fueled into growth planning and expansion into new regions in India and building bigger and better collaborative coworking spaces to help Startups and SMBs at large.

Plus Offices provides unique amenities which a class coworking facility would have including wifi, storage, ample parking, shuttle services, a café where members can purchase healthy food items, a lounge and event spaces, complimentary coffee and tea, recreational areas including a mentor program.

Plus Offices has built a relaxing environment where startups, SMBs, small business owners can connect with a network of resources and services that can help their business grow,” said Mr Ravi Kikan.

Mr Ravi Kikan also added "If you are a Entrepreneur, Consultant, Startup, SMB or Corporate who is waiting to expand or move into a newer or bigger or productive facility, we would love to connect with you and host you at Plus Offices. The whole objective is to bring a great experience for the Coworker who is working at our Plus Offices facility so that he or she is more productive and enjoys his focus on work"

Plus Offices provides not only shared amenities and resources, but also a sense of community, networking, and idea exchange among other things. Besides this, Plus Offices was started with an agenda to encourage the startups and women entrepreneurs by offering flexible membership agreements.

Coworking spaces, though a relatively new concept in India, has become a hot property with growth in the number of new startups in Gurgaon.

There are around 70+ Startups, 5 SMBs which are currently coworking with Plus Offices and the plan is to have around 500+ Startups and SMBs to be a part of Plus Offices in the Coworking Space in Gurgaon.The overall plan is to have around 20,000 Coworkers working out of various Coworking facilities of Plus offices in 2019-2020.

Co-Working Space Startup iKeva to Set Up 15 New Co-Working Centers post Raising Fresh Funds

Hyderabad based workspace provider, iKeva has raised an undisclosed amount from Meenakshi Group to fund its aggressive expansion plans across Major Metros in India. The co-working space provider plans to use the funds to expand and set up 15 new centers in the next 12 months and strengthen its robust back-end processes and technology.

Commenting on the development, Monika Misra, Co-founder and General Manager, iKeva said, “This industry has tremendous room for growth, the fresh infusion of funds will help us speed up our business expansion this year, and foray into new fast growing cities. Our revenues recorded an increase by 40% in the last fiscal and the target is to double this growth.”

iKeva opened its 1st center in Banjara Hills, Hyderabad in 2013 and rapidly added 8 centres across 5 major metro cities- - Bengaluru, Chennai, Gurgaon, Hyderabad and Mumbai, with 2 new centres set to open in Hyderabad in the next three months.

Investment by Meenakshi Group validates the trust leading real-estate players are now placing on the co-working/ flexible work-spaces as a business model. According to CBRE, the co-working/ shared office industry in India has shown a yearly growth of 23% since 2013 and by 2025, 40% of the overall workforce is predicted to work from co-working spaces. This trend has garnered keen interests from the investor community.

“Collaborative work-spaces are displaying remarkable growth and we recognise strong synergies between the co-working model and traditional real estate. As a strategic investor, iKeva’s business model and the sustained growth achieved over the years, combined with a focus to tap into lucrative millennial-driven sharing economy hold great promise.” Mahesh Katragadda, Director of Meenakshi Group said.

Meenakshi Group is one of India’s leading IT Park developers and has an impressive presence in real estate, power, highway projects and property management verticals. Its real estate portfolio includes over 12 million sqft delivered space, about 6 million sqft under delivery, and another 6 million in the pipeline. 26-year-old Meenakshi Group has a venture funding initiative with $10 million commitment meant to encourage new-age enterprises, innovative processes, and promising businesses.

“The strategic equity investment by Meenakshi Group is built on a deeply aligned vision about the future of iKeva brand. The Group’s expertise and experience will add substantial value to our brand as we grow exponentially. Misra added.

iKeva’s co-working spaces range from 10,000- 15,000 sq. ft., and offer a bevy of services and amenities including flexible fully furnished workspaces, high- speed internet, professional team, reprographics, high end IT, and more. With special focus to service delivery and hospitality, these co-working centers foster a community-based environment that promotes productivity and growth.

The spaces at iKeva are available for flexible usage - on a per-seat per-month basis and the packages are customizable to match specific requirements for large teams. The seat prices start from Rs 4000 under flexible plans and start from Rs 8,500 for a dedicated desk space. Options for booking a meeting room or a conference room on an hourly basis are also available. Currently, iKeva boasts 8 live centers and 3000+ members.

Co-working Giant WeWork Launches 'WeWork Lab' in India; To Help Startups Raise Funds

New York-based co-working space giant WeWork on Thursday launched ‘WeWork Labs’ in India to help early-stage startups in the country get access to investment, resources and mentorship from its global network of members. WeWork Labs functions as a startup incubator within WeWork, that provides an open workspace with the goal of encouraging collaboration among members who haven't yet fully developed their business ideas.

WeWork, which raised massive $4.4 Bn from Softbank in August'17 valuing it at $20 billion, said that it is planning to set up 10 ‘WeWork Labs’ in India by next year which would provide support to startups.

The first WeWork Labs opened in New York’s SoHo in April 2011 and about 1,000 start-ups are part of WeWork Labs across the globe.

Started a pilot three-four months ago, there's already a WeWork Labs in India at the company's Gurugram facility (Platina Tower) and eight startups are already a part of it.

WeWork Labs also partners with local incubators and accelerators to provide holistic, long-term support for startups throughout their journey. Notably, it do not take equity in member companies

WeWork Labs Senior Vice President and Global Head Roee Adler told PTI, "India is among the largest start-up nations and is poised to continue growing at a significant pace. While there are programmes running in India that offer incubation and acceleration to start-ups, we believe the scale has to be increased manifold."

With its global network of over 2.68 lakh members, WeWork is confident that its "unique and no-equity startup programme" can help support Indian start-ups through their journey as they grow their ideas and business, he added.

WeWork has more than 5,000 employees in over 280 locations, spread across 77 cities in 23 countries including Australia, Argentina, Brazil, Canada, China, Colombia, France, Germany, Hong Kong, Ireland, India, Israel, Japan, Mexico, Netherlands, Peru, Singapore, South Korea, Spain and United Kingdom.

Source - The Hindu, Economic Times

Co-working Giant WeWork Launches 'WeWork Lab' in India; To Help Startups Raise Funds

New York-based co-working space giant WeWork on Thursday launched ‘WeWork Labs’ in India to help early-stage startups in the country get access to investment, resources and mentorship from its global network of members. WeWork Labs functions as a startup incubator within WeWork, that provides an open workspace with the goal of encouraging collaboration among members who haven't yet fully developed their business ideas.

WeWork, which raised massive $4.4 Bn from Softbank in August'17 valuing it at $20 billion, said that it is planning to set up 10 ‘WeWork Labs’ in India by next year which would provide support to startups.

The first WeWork Labs opened in New York’s SoHo in April 2011 and about 1,000 start-ups are part of WeWork Labs across the globe.

Started a pilot three-four months ago, there's already a WeWork Labs in India at the company's Gurugram facility (Platina Tower) and eight startups are already a part of it.

WeWork Labs also partners with local incubators and accelerators to provide holistic, long-term support for startups throughout their journey. Notably, it do not take equity in member companies

WeWork Labs Senior Vice President and Global Head Roee Adler told PTI, "India is among the largest start-up nations and is poised to continue growing at a significant pace. While there are programmes running in India that offer incubation and acceleration to start-ups, we believe the scale has to be increased manifold."

With its global network of over 2.68 lakh members, WeWork is confident that its "unique and no-equity startup programme" can help support Indian start-ups through their journey as they grow their ideas and business, he added.

WeWork has more than 5,000 employees in over 280 locations, spread across 77 cities in 23 countries including Australia, Argentina, Brazil, Canada, China, Colombia, France, Germany, Hong Kong, Ireland, India, Israel, Japan, Mexico, Netherlands, Peru, Singapore, South Korea, Spain and United Kingdom.

Source - The Hindu, Economic Times

India's Largest Co-Working Space, Smartworks Opens its Second Center in Chennai

Smartworks, which claims to be India’s largest provider of managed workspaces, opens its second facility in the city of Chennai on Old Mahabalipuram Road (OMR), bringing its total footprint in India to over 1.2 million sq. ft. The facility at OMR, Chennai is spread across 85,180 sq. ft. with a seating capacity of 1500 seats. With this launch, Smartworks is taking its total number of centers in India to 15 across nine cities namely, Delhi, Gurugram, Noida, Kolkata, Bangalore, Mumbai, Pune, Hyderabad and Chennai.

Launched three months ago, Smartworks` first center in Chennai at Guindy was fully occupied by 10+ companies within two months on the back of strong pre-booking, owing to the increasing demand for shared workspaces in the city. Currently, Smartworks has brought on board several marquee clients, counting Tata Communications, Microsoft, Arcelor Mittal, Amazon,Carrier, Otis, Daikin, Lenovo, Bacardi, Swiggy, Rivigo and OLX among its 500+ strong client base.

Speaking of the launch in Chennai, Smartworks Founder, Neetish Sarda said, “We are excited to launch Smartworks’ second facility in Chennai, a city that is continuously witnessing a rise in demand for office spaces which indicates a healthy and thriving culture in the city. This is a huge accomplishment for us. Chennai is fast emerging as a destination for information technology, outsourcing, manufacturing and enterprises, that has led to entry of global firms here.”

He adds, “The facility in OMR complements our already functional Smartworks facility in Guindy was booked out 100% within two months of its launch which has led to the opening of this new facility in OMR. Smartworks aspires to be the preferred partner of choice for businesses here that wish to create productive, innovative and dynamic workplaces for their employees. We are bullish on the sector we operate in and see ourselves expanding very fast in the next 3 years, targeting 10 million sq. ft. We are also eyeing our presence in non-metro cities very soon.”



In its one of a kind collaboration, Smartworks is proud to announce its association with Episource, a U.S headquartered company with operations across India and the Philippines. In their recent expansion with Smartworks, they have occupied eight of the ten floors at OMR Centre, seating 1,400 of their new employees.

“The ease and flexibility with which Smartworks has helped us expand into this office has been commendable. We look forward to further embracing the unique culture and collaborative work environment Smartworks offers. It is exciting to see the array of facilities at our disposal, from visitor management and IT support to an assortment of recreational activities. Outsourcing our office management to co-working operators allows us to focus on our core competency— medical record review services.” says Sishir Reddy, CEO, Episource.



With millennials preferring to join companies like Episource that understand the importance of a work-life balance, Smartworks recognizes the importance of providing employers like Episource the ability to offer their employees an enriching environment to work in.

The OMR area of Chennai where Smartworks facility is located is the IT corridor of the city. The area also offers a good mix of residential and office complexes, contemporary structures, swanky eateries and a growing number of entertainment zones. OMR enjoys good road connectivity; proposed Metro will further boost the demand in the area. Smartworks’ facility has been designed with lively and welcoming interiors in informal seating, and the facility’s cafeteria, Smart Cafe, creates an ambience where members can relax and unwind before meetings and socialize or network with other member companies. The center also provides a state-of-the-art medical facility that takes care of employees’ healthcare.

Founded in April 2016, by Neetish Sarda and Harsh Binani, Smartworks is reinventing enterprise workspaces to boost employee productivity and to become the preferred workspace of choice for India's vibrant millennials. With demand for customized workspaces growing rapidly across Tier 1 & Tier 2 cities, Smartworks is targeting 10 million sq. ft. of managed office space over the next three years.

Smartworks claims to be India’s largest provider of tailor-made, flexible workspace, with a footprint of more than 1.2 million sq. ft. across 15 locations in 9 cities (Delhi NCR, Kolkata, Bangalore, Mumbai, Hyderabad, Chennai and Pune) catering to more than 500+ organizations across large enterprises, SMEs, start-ups, and freelancers. Founded in April 2016, Smartworks is reinventing enterprise workspaces to become the best workspace experience provider and the workspace of choice for India's vibrant young workforce.