2018 will be consolidation year for co-working industry: Amit Ramani, Awfis

28 December 2017

2018 will be consolidation year for co-working industry: Amit Ramani, Awfis

  • ET Realty

 

In conversation with ETRealty, Amit Ramani, Founder and CEO of Awfis says with 300 players in the co-working industry, consolidation is bound to happen. Corporate are increasingly opting for co-working industry as they want to be asset-lite and prefer staying away from lock-in periods. According to Ramani, expansion of co-working spaces in tier-II cities will obviously happen because commercial activities in such cities are expanding.

 

Click here to read online article: https://realty.economictimes.indiatimes.com/videos/2018-will-be-consolidation-year-for-co-working-industry-amit-ramani-https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg/62282758

Awfis leases 85,000 sq ft space in Noida, Real Estate News, ET RealEstate

10 May 2022

Awfis leases 85,000 sq ft space in Noida, Real Estate News, ET RealEstate

  • Posted by Awfis Editorial

Currently Awfis has 11 co-working centres in the Delhi-NCR region and the company plans to open 10-15 more centres in the market by the end of 2022.

Awfis, a flexible workspace provider, has leades 85,000 sq ft space in River Side Tower, sector- 125, Noida. The centre will have over 1500 seats and is expected to go live by end of March 2022, the company said in a media release.

Currently Awfis has 11 co-working centres in the Delhi-NCR region and the company plans to open 10-15 more centres in the market by the end of 2022.

Amit Ramani, CEO & Co-Founder of the company said, “We are delighted to partner with River Side Tower to open this new ’workspace in Noida.The sharp recovery and the growing demand for flex workspaces from this region inspired us to continue to create garde-A flex workspaces, so as to facilitate businesses of all size in the market. We are confident that this trend will continue to grow and even the most traditional companies will see merit in setting up hub and spoke offices to help people work in close proximity to their homes allowing them to spend lesser time in commuting.”

The company claims to have launched over 50 centres with 30,000 seats and entered three new markets in the past 15 months.

Awfis plans to open 200 centres across the country by the end of 2022. It currently has 121 centres with 70,000 seats across 14 cities.

This story appeared in the 9 February, 2022 issue of MSRealty and was originally published  at: Awfis leases 85,000 sq ft space in Noida – ET Realty

 

Awfis opens 63,000 sq feet co-working space in Bengaluru

24 May 2019

Awfis opens 63,000 sq feet co-working space in Bengaluru

  • Posted by Awfis Editorial

BENGALURU: Awfis Space Solutions, a co-working space provider, has opened 63,000 sq feet in Bengaluru which can house 1,050 workstations.

“Bengaluru is a big market and this is our fourth centre in a CBD (central business district) and 11th in Bengaluru,” said Sumit Lakhani, chief marketing officer, Awfis Space Solutions.

The centre is already 80% occupied as a result of pre-launch sale of its seats to clients such as Reliance Communications, Frontizo Business Services, Equal Experts and The Math Company.

“We have a network of 63 centres and 30,000-plus seats spread across 10 cities and aim to double capacity to 60,000 seats in the next 12 months,” said Lakhani.

The Mumbai-headquartered firm saw its revenue jump nearly threefold year-on-year in 2018-19 to Rs 158 crore from Rs 56 crore. It expects an exit annual revenue run rate of Rs 400 crore by March 2020. “The company is already profitable since October 2018 at company level,” said Lakhani.

The company recently raised $20 million in series C funding from its existing investors – global venture capital firm Sequoia Capital, The Three Sisters: Institutional Office (TTS:IO) led by Radha Kapoor and Temasek Group company InnoVen Capital – to support its growth plan.

Earlier, the firm had raised $31 million through two rounds from TTS:IO and founder Amit Ramani. In its maiden exposure to the company, the California-based Sequoia Capital invested $20 million.

Flexible workspaces account for about a fifth of office leasing in India. The emergence of space uptake in co-working affirms that corporates are aligned to a mixed portfolio strategy of fixed and flexible space. Total gross leasing volume in India touched almost 13 million sq feet during the first quarter of 2019, which was 1.45 times higher than the year-ago figure, showed data from Cushman & Wakefield India.

Awfis opens 15,000 sq ft co-working space in Zirakpur

23 January 2019

Awfis opens 15,000 sq ft co-working space in Zirakpur

  • Posted by Awfis Editorial

NEW DELHI: Awfis has opened a 15,000 sq ft co-working facility in Motia’z Royal Business Park, Zirakpur. The centre has seating capacity of over 300 customers.

Amit Ramani, founder & CEO, Awfis said, “We are confident that our futuristic and uniquely designed workspace will facilitate growth across businesses and we are excited to be the pioneers of the workspace revolution in Chandigarh.”

Labh Chand Mittal, director, Motia Group said, “With Chandigarh’s current growth trajectory only moving upwards, it makes for an exciting time for all stakeholders to witness the region’s sharp economic progression in the coming years and beyond.”

Besides Chandigarh, Awfis also aims to expand to other tier-II cities such as Ahmedabad, Jaipur, Kochi, Indore, and Bhubaneshwar in the next 12 months.

Visit the below link to read the published article: https://realty.economictimes.indiatimes.com/news/commercial/https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg-opens-15000-sq-ft-co-working-space-in-zirakpur/67656217

This news was also covered on the below online portals:

New Zen New
Link: https://www.newznew.com/https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg-opens-its-1st-centre-in-chandigarh-know-more-about-contact-and-location/

Bhaskar Newsline
Link: http://bhaskarnewsline.com/news/10011-.aspx

Face 2 News
Link: http://www.face2news.com/news/45476-https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg-opens-new-centre-in-zirakpur.aspx

Chandigarh City News
Link: http://www.chandigarhcitynews.com/motiaz-royal-business-park-shared-workspace-chandigarh-ambala-highwayzirakpur/

Vision News
Link: https://thevisionnews.com/?p=2631