The concept of shared office spaces has caught in India really fast and there are now a whole host of managed office operators in India. While some of the operators have foreign-origins, there is a clutch of Indian co-working space providers who are giving tough competition to the foreign shared office players in a rapidly evolving arena in the country. These homegrown companies are expanding as fast as their foreign counterparts, if not faster, and re-defining the landscape for offices and commercial setups in the country.
Among the Indian organized players, there are three firms that have already marked their presence in a number of cities and have massive expansion plans chalked out. We take a look at the expansion and funding plans of the three:
1 Smartworks
The company has about 1.3 million square feet of shared office spaces in the country and the company is planning to take this to about 2.5 million by next year and to 5 million in the next three years. Started in April 2016, Smartworks has some of its biggest centers in Delhi, Kolkata, Hyderabad, Chennai and Noida. It is also looking to expand its presence in tier 2 and tier 3 cities like Madurai and Coimbatore. The company invested about USD 20 million in its various facilities so far and plans to invest another USD 12-16 million over the next year or so as it expands to newer geographies in the country. Unlike other shared office space providers, Smartworks has mostly has enterprise clients. The corporate clients of Smartworks include Microsoft, Tata Communications, Otis, Arcelor Mittal, Amazon, Daikin, Carrier, Lenovo, Bacardi, Rivigo and Swiggy. While the company has some individuals and freelancers also, the bulk of the revenue comes from bigger enterprises. The company is reportedly looking at raising about USD 20-30 million for its planned expansion.
2 Awfis Space Solutions
Awfis Space Solutions has about 30,000 seats in 60 centres in metros and some micro markets and company plans to take its capacity to 45,000 seats by March 2019. It further plans to have 1 lakh seats in over 200 centres in the next 3 years.
The company has significant presence in Bangalore, Delhi, Mumbai, Noida, Gurgaon, Kolkata, Hyderabad and Pune. It is looking at tier 2 cities as well as plans massive expansion. It has a healthy mix of enterprise clients as well as individuals and freelancers. The company offers each seat in the range of Rs 5,000-15,000 per month in its centres. Some of the entreprise clients of Awfis include MercedesBenz, Vodafone, Practo, Hinduja Global, Zomato, Reliance and Hitachi.
3 Alt F Co Working
Alt F Co Working was one of the first Indian companies to get into the business of shared offices. Alt F Co Working is looking at organic as well as inorganic growth for itself. It has recently acquired Noida based Daftar India, a co-working office provider.
Alt F Co Working has a significant presence in Gurgaon. It has eight centres with about 1000 seats in Gurgaon and is now looking at other parts of Delhi NCR. The company is typically looking at 25,000-35,000 square feet of shared offices for itself. The company offers seats in its shared office at relatively lower rates of about Rs 4,000-9,000 per month.
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