Amit Ramani (Founder & CEO- Awfis Space Solutions Pvt Ltd) on Live Panel Discussion on Startup India on 16th Jan, 2016 on Zee Business
25 August 2021
25 August 2021
Amit Ramani (Founder & CEO- Awfis Space Solutions Pvt Ltd) on Live Panel Discussion on Startup India on 16th Jan, 2016 on DD News
25 August 2021
It finds a spreading market here among entrepreneurs and start-ups, prompting rapid expansion plans.
With the proliferation of solo entrepreneurs and start-ups in the country, it was a matter of time before office space became another opportunity to launch a start-up, catering to the mobile workplace needs of these professionals.
There are others in this place but the Amit Ramani-led Awfis Solutions intends to be a clutter-breaker, with a managed aggregation strategy. Instead of focusing on the peer-to-peer model, the company intends to create a niche through this strategy in the form of ‘pro working’ spaces.
The company, with initial funding of $10 million (Rs 67 crore), currently has a network of 1,500 seats in Mumbai, Bengaluru and Delhi. It aims to take this to 10,000 seats across 10 cities. Ramani and Radha Kapoor are the key investors in the venture; the proportion of investment by either is not disclosed.
Managed aggregation, Ramani explains, is a practice where Awfis manages the properties in its network integrating services and technology back-end. In other words, while on the one hand the platform serves as an aggregator of office spaces, it also provides technology back-up and manages these spaces, taking responsibility for the end-user’s experience.
“The way we are different from our peers is that we take ownership of the user experience. Unlike rent a cab services, where a part of the operation is beyond the portal’s control, we have our staff at the properties to ensure the experience is good. This addition to the sheer scale we have achieved since we started in September 2015 and plan to achieve this calendar set us apart from the existing players,” says Ramani, founder and chief executive officer. Awfis has partnered with real estate developers which have unutilised space and hotels with meeting rooms to let out. With the former, the partnership is either on a rental basis or revenue share. In the case of hotels (Awfis has already struck deals with the Trident, Hyatt and Lemon Tree groups), it is a revenue share model. The booking back-end of the hotels has been integrated into the Awfis mobile app, which allows users to be updated on availability and booking, real time. In the case of real estate partners, Awfis invests in the infrastructure and ambience.
It says it has created proprietary Grade-A, highly energetic and inspirational community work spaces (1,500+ desks, across seven Centres, operational across Mumbai, Delhi, Bengaluru) and is working to ramp this up to 3,500+ desks across 15 ‘work innovation centres’ in these cities by March.
Each centre provides technology-enabled physical infrastructure — video projection, NFC cards, CCTV, high-speed internet, laser printing. Members get the benefits of using custom-sized multi-location workspaces on a flexible lease tenor, from an hour to up to a year (or more), depending on work requirements.
Additionally, Awfis has partnerships that provide its community members access to leading service providers in accounting, legal, recruitment, payments, web services, mail management, health care and insurance.
Ramani says their experience shows that in the metros, properties break even at the operational level once they hit the 40 per cent occupancy mark over four to six months. It varies from city to city, given the difference in property rental rates.
“Additionally, our capex is not exorbitant because we have used synergies from our family companies like Nelson Asia, which provides architectural design and consulting services. We also have more properties seeing good occupancy. Of the $10 million initial investment, we have used around $3 mn so far and the rest will be used to scale up to 10,000 seats by the end of this calendar. For the next phase of expansion, we aim to raise $40-50 mn, for which we will go to the market by September this year,” adds Ramani.
At 10,000 seats, Awfis will then be the largest managed aggregator of office space in the country, he reckons.
Office spaces under this venture are available on a membership basis, as well as an on-off basis. The prices range from Rs 350 a day to Rs 11,000 a month for work stations; meeting rooms are available for anywhere between Rs 500 an hour to Rs 3,500 a day. Where the partner is a hotel, the latter’s rate applies.
22 February 2021
Coworking firm Awfis on Monday said its revenue grew by 46 percent to Rs 230 crore last fiscal on better demand for shared office space, and announced a solution that will provide physical and IT infrastructure to professionals working for home in the wake of the COVID-19 pandemic.
“Our revenue stood at Rs 230 crore last fiscal as against Rs 158 crore in 2018-19. It could have been more, but revenues were hit in March because of the coronavirus outbreak,” Awfis founder and CEO Amit Ramani told PTI.
The company has opened around 40 centres from May 4 with 33 percent occupancy permitted by the government. “Our centres in Mumbai and Pune are closed,” Ramani said.
He said the coworking segment has also been affected like any other industry, but expressed confidence that flexible workspace would gain momentum post COVID-19 with corporates and startups looking to cut capex.
People are currently working from home because of the lockdown. “Post COVID-19, we expect that around 10-12 percent of workforce will be working from home. Many companies have already announced such plans,” he said.
Therefore, Ramani said the company has come out with an offering called ‘Awfis@Home’, where it will help provide physical and IT infrastructure for work from home at Rs 2,500 monthly subscription fee.
“Organisations and individuals are trying their best to adjust to this new normal and the need of the hour is a solution that would help them maintain and build the productivity and efficiency of the physical workplace right in the safety and comfort of their homes,” Ramani said.
Awfis Chief Marketing Officer Sumit Lakhani said the new solution enables the flexibility of remote working coupled with the productivity of the office space.
The integrated toolkit provides the users smart and ergonomic furniture along with tech solutions like high speed broadband connection, data security, and IT solutions.
Through an app, it will also help its corporate clients in attendance management of employees.
Awfis, which currently has 35,000 desks in 70 centres across major cities, has so far raised $81 million from investors, including ChrysCapital and Sequoia India.
This story appeared in the 18 May , 2020 issue of Business Standard was originally published at : Awfis reports 46 pc spike in FY20 revenue; launches solution to boost work-from-home productivity | Business Standard News (business-standard.com)