'Awfis' space start-up in expansion mode

05 March 2016

'Awfis' space start-up in expansion mode

  • Business Today

Founded in April last year, plug-and-play office space provider Awfis Space Solutions might have been in the market barely for 11 months but the start-up is already in expansion mode.

Currently, the company has seven properties in Delhi (two properties), Mumbai (four) and Bangalore (one). “By the end of this year, our goal is to be in 15 locations with 50 centres and 10,000 seats. So going from the current 1,500 seats we will be 4,000 by the end of March and then 10,000 seats by the end of December,” Amit Ramani, founder and CEO of Awfis, told Business Today. “We are also going to add four more cities – Pune, Hyderabad, Ahmedabad and Chennai.”

A new-age venture that targets the SMILE (small, medium, individual, local entrepreneurs) community, Awfis provides just-in-time office space that can be booked using its app, call centre or via sales executives. All the spaces provided by the company are equipped with CCTV cameras, sensors and NFC technology, and companies or even individuals can take them on rent for a maximum span of 11 months.

The company also offers meeting rooms on rent, for which it has tied up with hotels like Trident and Lemon Tree. These, too, can be booked on just-in-time basis using the Awfis app.

And like most start-ups of today, the company relies heavily on technology. “Technology is a very important factor, so if we want to people to use our spaces in just-in-time, we needed them to provide the ability to book-in-time,” Ramani said. “We have been able to create a system which allows people to use mobile phone to access a space, use their mobile phone to buy food, use it to buy additional credits etc.”

“Our charges start at Rs 4,500/month for a flexible seat, which means you don’t get a dedicated desk but you get a desk for sure and goes up to 13,000 for centres that are at a more premium location and this includes wireless, printing and tea/coffee,” Ramani informed.

According to Ramani, Awfis Space has so far raised $10 million in funding. The company plans to look for additional VC funding after September.

It is also planning to expand its employee base from current 70 to 400 by the end of 2016.

50% demand for our co-working spaces now from large MNCs: Awfis CEO Amit Ramani

04 February 2022

50% demand for our co-working spaces now from large MNCs: Awfis CEO Amit Ramani

  • Posted by Arathy Nair

The demand from large MNCs for co-working spaces has shot up to 50% of Delhi-headquartered Awfis Space Solutions’ total pie over the past 12 months amid increased flexibility demand from employees even as firms are unsure of the best hybrid work format, according to its Founder & CEO Amit Ramani.

“Pre-pandemic, 80% of our business used to come from SMEs and mid-sized corporate and startups who adopted flexible work to save costs and for better infrastructure. In the past 12 months, large occupiers have taken this on in a big way. Today, 50% of our demand comes from large occupiers which include companies from the top 100 MNCs in India and globally,” said Ramani at a virtual event on flexible workplaces organized by CII Maharashtra and ANAROCK Property Consultants on Friday.

He said the company sold in two months the number of seats it used to sell in a year. It’s a 6x jump, he added. The demand is also being driven from tier 2 cities as forward-thinking firms have realized many people in the workforce have migrated to smaller towns and chunk of the population may not return, he said.

“The demand is absolutely out of control. If I was in the developer community, I would be rushing to Indore, Jaipur, Ahmedabad, Kochi and Coimbatore to set up shop. I have a demand of 5,000 seats from a single operator in a city like Jaipur, whereas there are only four compliant office buildings in that city. The opportunity and supply-demand mismatch has never been this dramatic in any metro city. Tier 2 cities are going to be the next big story for all of us,” he said.

The CII-ANAROCK report ‘Workplaces of the Future unveiled at the event found that the revenue from the co-working spaces market will potentially double over the next five years at a CAGR of 15% as it is the preferred way to adopt the hybrid work model compared to options like changing existing office layouts or the hub-and-spoke model. Currently, there are 35 million square feet of flexible office space across the country. Of this, 71% or 25 million sq ft is by the large operators. Around 3.7 lakh flexible seats are currently spread across the major tier 1 and tier 2 cities of India.

This article was originally published on 3 December 2021 at : 50% demand for our co-working spaces now from large MNCs: Awfis CEO Amit Ramani – BusinessToday

Awfis leases 64,000-sq-ft flexible workspace to WayCool Foods

03 February 2022

Awfis leases 64,000-sq-ft flexible workspace to WayCool Foods

  • Posted by Arathy Nair

Co-working startup, Awfis has partnered with global real-estate major, Coldwell Banker Richard Ellis (CBRE) to lease out 64,000 square feet of flexible workspace to WayCool Foods in Bengaluru and Chennai. WayCool Foods is a farm-to-market supply chain tech startup which will utilise the leased-out space to build a state-of-the-art experience centre, robotics labs and premium retail lounge, among others.

The announcement comes amidst increased traction for flexible workplaces as enterprises opt for hybrid work model. Co-working sector was one of the worst hit when the pandemic disrupted the real-estate industry and companies moved to work from home model.

Awfis claimed that it will bring its expertise of catering to highly-specialised and customised requirements of companies and make pioneering design innovations for WayCool’s new offices in Bangalore and Chennai. “Some of these extraordinary provisions include hi-tech robotics, mechanical, IoT and electrical labs, a premium hypermarket setup for its range of products, a discussion lounge with showcase pantry, a state-of-the-art experience centre with high-end retail display, a studio space and a dedicated sprawling setup for town halls, employee recreation and collaboration which includes a library and a display wall for employee artwork,” the workspace startup said in a statement.

The leading players in the co-working segment are now working on building new design aesthetics for new-age firms with safety, hygiene modules in place. Awfis said that is working with CBRE to source multiple opportunities across India. Awfis currently has a network of 95 coworking centres and 55,000 seats spread across 13 cities and is soon heading towards the 100 centres milestone before the end of 2021.

“The commercial real estate sector has proven to be extremely resilient over the last year. With the role of workplace changing, we at CBRE are optimistic that the sector’s steady growth will continue in the future as well. It gives us immense pleasure to have facilitated such a deal as it stands a testimony of our market leadership and the sector growth. Our experience, intelligence and focus around the flex sector along with having a dedicated practice demonstrates our commitment towards this space,” Anshuman Magazine, Chairman & CEO – India, South East Asia, Middle East & Africa, CBRE said.

This article was originally published  on 23 November 2021 at : Awfis leases 64,000-sq-ft flexible workspace to WayCool Foods – BusinessToday

'Awfis' space start-up in expansion mode

25 August 2021

'Awfis' space start-up in expansion mode

  • Posted by awfis

Founded in April last year, plug-and-play office space provider Awfis Space Solutions might have been in the market barely for 11 months but the start-up is already in expansion mode.

Currently, the company has seven properties in Delhi (two properties), Mumbai (four) and Bangalore (one). “By the end of this year, our goal is to be in 15 locations with 50 centres and 10,000 seats. So going from the current 1,500 seats we will be 4,000 by the end of March and then 10,000 seats by the end of December,” Amit Ramani, founder and CEO of Awfis, told Business Today. “We are also going to add four more cities – Pune, Hyderabad, Ahmedabad and Chennai.”

A new-age venture that targets the SMILE (small, medium, individual, local entrepreneurs) community, Awfis provides just-in-time office space that can be booked using its app, call centre or via sales executives. All the spaces provided by the company are equipped with CCTV cameras, sensors and NFC technology, and companies or even individuals can take them on rent for a maximum span of 11 months.

The company also offers meeting rooms on rent, for which it has tied up with hotels like Trident and Lemon Tree. These, too, can be booked on just-in-time basis using the Awfis app.

And like most start-ups of today, the company relies heavily on technology. “Technology is a very important factor, so if we want to people to use our spaces in just-in-time, we needed them to provide the ability to book-in-time,” Ramani said. “We have been able to create a system which allows people to use mobile phone to access a space, use their mobile phone to buy food, use it to buy additional credits etc.”

“Our charges start at Rs 4,500/month for a flexible seat, which means you don’t get a dedicated desk but you get a desk for sure and goes up to 13,000 for centres that are at a more premium location and this includes wireless, printing and tea/coffee,” Ramani informed.

According to Ramani, Awfis Space has so far raised $10 million in funding. The company plans to look for additional VC funding after September.

It is also planning to expand its employee base from current 70 to 400 by the end of 2016.