The company has entered Ahmedabad and Chennai markets post unlock and will open offices in Indore, Bhubaneswar, Kochi and Lucknow in the coming months.
“We are getting a lot of demand from tier-2 cities, as many have moved to their hometown but there is no organised office space provider there. Tier-2 cities were part of our expansion plan but because of the demand, we have advanced the plan,” said Ramani.
Awfis has also taken over two centres and is in talks to take over five more under management contract.
“A lot of companies are planning to downsize but are unable to do so due to existing contracts. We are giving them this option by entering into a management contract,” said Ramani.
Awfis has taken over 25,000 sq ft at Workwild, Hyderabad and another 18,000 sq ft at 517, UdyogVihar, Gurgaon.
It is in advance talks to take over another 100,000 sq feet across five centres in India.
“The market has definitely picked up and a lot of demand is coming for grade B offices. These developers are under stress due to vacancy and it is the right time to acquire assets,” Ramani added.
The company was operating 35,000 seats by March 2020 and had planned to add another 20,000 within a year but Covid has slightly impacted the expansion.
“We are still on track to operate 2 lakh seats in three years at 400 locations. Employees have started coming back and, in Kolkata, 70-75% have come back while the numbers are in the range of 20-25% in Delhi and Mumbai. Vaccine will help in demand for co-working spaces as most of the employees do not want to work from home for five days,” Ramani said.
Awfis currently has 67 operational co-working centres with 35,000+ seating capacity in 10 cities in India including Mumbai, Pune, Kolkata, Chennaiand Bengaluru.
The upcoming centres will cater to large corporates, SMEs as well as startups, continuing to nurture the spirit of innovation and enterprise across the nation.
According to a survey by Savills India, real estate developers anticipate an increase in the share of flexible spaces in leasing activity in 2021, and in order to capture some of that growth, nearly 25% builders say they intend to start their own flex space subsidiaries.
Flexibility will remain a priority for occupiers as Savills survey revealed that 81% of the occupiers want even more options to grow or shrink as per business requirements.
According to the report, over 3,000 co-working centres across the country are likely to offer approximately one million desks by 2022, and overall leasing by co-working operators is expected to increase by 42% in 2021.