Office space provider AWFIS on rapid expansion mode

10 March 2017

Office space provider AWFIS on rapid expansion mode

  • The Hindu Business Line

Opens 18th centre, eyes 20,000 seats by March 2018.

Co-working space provider AWFIS Space Solutions has commissioned a 200-seater facility in Hyderabad, its 18th such facility in the country across three metros and Hyderabad and Pune.

Founded in April 2015, AWFIS, which has rapidly grown to 4,500 seats, expects to offer over 6,000 seats by June 2017, with 25 centres and ramp this up to 20,000 seats by March 2018.

Amit Ramani, Founder & Chief Executive Officer of AWFIS, said, “We hit upon the right business model which provides start-ups, SMEs and even multinational corporations an ideal place to work, without having the hassle of managing them. Given the demand for such spaces, we are heading towards being a 20,000 seat provider by March 2018 and work is underway to achieve that number.”

The company had raised about Rs. 72 crore (about $11 million), which would be sufficient to meet the ongoing expansion. “However, we will look at raising funds later this year,” he told BusinessLine.

Taking through the new facility located in Taj Deccan here, Sumit Lakhani, Chief Marketing Officer, AWFIS, said: “We are in the process of firming up more such places to locate shared spaces. With presence in Mumbai, Delhi, Bengaluru and now in Hyderabad, we are adding new locations within these cities too. In Hyderabad, we expect to add few more offices.”

For a single seat, it works out to about Rs. 5,000 to Rs. 13,000 a month (for a cubicle), depending upon the type of space, shared one or cubicle, and fixed seats starting from Rs. 350 per day to Rs. 750 per day.

This makes it attractive for workers as they do not have to handle the hassle of maintenance of their work place. They just walk in and walk out, he said.

In addition, there is also facility for meetings for up to eight persons starting at Rs. 600 per hour.

The pro-working centre at Taj GVK property Taj Deccan has managed to convert underutilised space in a premium property. In the process, it seeks to facilitate the growth of the startup community looking for affordable yet premium addresses for setting up office.

Pro working spaces are located in shared working environment, yet independent. Individuals from different organisations and professions share these common work spaces.

(This Awfis coverage was published in The Hindu Business Line on March 10, 2017 under the headline “Office space provider AWFIS on rapid expansion mode.” You can read the story here http://www.thehindubusinessline.com/companies/https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg-on-rapid-expansion-mode/article9577572.ece )

Book a plug-and-play office for ₹300 a day

25 August 2021

Book a plug-and-play office for ₹300 a day

  • Posted by awfis

Now, hire an office space for the price of pizza.

Targeted at nimble and sprouting start-ups across the country, Awfis Space Solutions has launched a mobile-based application to book office space with Wi-Fi and other basic facilities at ₹300-500 a day in Delhi, Mumbai and Bengaluru.

Promoted by Radha Kapoor, daughter of Rana Kapoor co-founder of YES Bank and emerging entrepreneur Amit Ramani, Awfis provides 1,500 office cabins, table space and meeting rooms for as low as one hour to 11 months across seven centres in three cities. The promoters have made an initial investment of ₹65 crore and plan to enhance capacity to 3,500 seats by March.

The company has drawn plans to set up 10,000 seats across 60 centres in Chennai, Ahmedabad, Hyderabad, Pune and Kolkata by end of this year. It plans to raise $40-50 million (about ₹330 crore) by the end of next year to fuel growth.

Awfis has also tied up with Trident, Hyatt and Lemon Tree to list 100 meeting rooms at select locations on its platform.

Speaking to BusinessLine Ramani, CEO and Co-founder, said the just-in-time office space concept has already received good response with 12 start-ups in Bengaluru hooking in through Awfis.

“In fact, some of the venture capitalists before investing are insisting the start-ups to use our services as they do not want them to splurge capital in deposit, rentals and maintenance of own office space at the initial stage,” he added.

This apart, he said, Awfis is also in talks with top insurance company and audit firm to lease out space for their marketing staff.

It has also signed strategic partnership to provide allied services such as accounting, legal, recruitment, payments, web services, mail management, healthcare and insurance.

Interestingly, Ramani said about 60 high networth investors, who invested in real estate boom have approached Awfis for partnership as it assures steady return for them.

“Unlike other office space providers, we do not insist on one year rental agreement or take any security deposit in advance. With the planned 10,000 seats, our business has the potential to generate revenue of ₹10 crore a month and break-even with 40 per cent occupancy,” he said.

Remote working helping employees save 1.47 hours travel time a day: Survey

23 February 2021

Remote working helping employees save 1.47 hours travel time a day: Survey

  • Posted by Arathy Nair

Survey conducted in June, July across 7 metros and 1,000 employees; 3/4th of respondents willing to work from home

Awfis, India’s home-grown flexible workspace provider, unveiled the Awfis Remote Working Report, to offer a glimpse into the changing needs and preferences of the urban Indian workforce concerning their place of work post the Covid-19 lockdown.

The online survey has highlighted various challenges and opportunities that employees have faced while working remotely.

The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national — have run into

The survey was conducted over a period of two months (June and July 2020) across seven metros in India, and analysed inputs from 1,000 employees across diverse industries.

According to the survey, 74 per cent of the respondents are willing to work remotely, and 80 per cent pointed out that their job roles can be performed from a remote environment.

It revealed that 29 per cent of respondents reported saving ₹3,000-5,000 a month as a result of working from home, which was otherwise spent on commuting, clothing, and food, among others.

Sixty per cent of the employees usually spend more than an hour in commute to and from office. Therefore, due to work from home now, on average, an employee saves 1.47 hours of travel time every day. This translates to time worth 44 additional working days in a year.

Key challenges

Work from home has its challenges, too. The survey said 27 per cent of the employees felt they lacked opportunities for engaging with colleagues and developing strong networks. The inability to meet and collaborate may have impacted employees’ creativity.

The survey also said 43 per cent of the employees reported the inability to maintain their work-life balance while working remotely.

While 47 per cent of the employees surveyed report a lack of comfortable desk and chair, 71 per cent felt they would be successful in working from home if they had a dedicated work space.

Commenting on the survey, Amit Ramani, CEO & Founder, Awfis, said in an official release: “The current situation has given way to a new style of working — Work from Anywhere. Organisations and individuals are gradually adjusting to this new normal. To be effective, organisations across diverse industries need to understand the changing requirements and challenges faced by their employees and provide them with the required resources.”

He added: “By means of this survey, we were able to deconstruct the employee perspective and share critical insights that would help managers and organisations devise sustainable remote working strategies.”

This story appeared in the 1 September , 2020 issue of Hindu Business Line and was originally published  at : Remote working helping employees save 1.47 hours travel time a day: Survey – The Hindu BusinessLine

Awfis turns profitable, set to expand to 5 more cities

18 March 2019

Awfis turns profitable, set to expand to 5 more cities

  • Posted by Awfis Editorial

Awfis, the co-working spaces and solutions provider, has turned profitable in little over three years since its commencement .

The company, which could be considered a startup, has grown to 30,000 seats across 10 metros and cities with 63 centres up from 3,000. It is now looking at entering five more cities with its co-working spaces.

Amit Ramani, Founder and CEO of Awfis, said, “Awfis spaces and ‘Autonomous Work Space solutions’ have been now operational across 10 major metros and cities and we are looking at making entry into five Tier II cities during the year.”

These cities include Indore, Ahmedabad, Bhubaneshwar, Kochi and Jaipur. This will enable us to take our presence to 15 cities with over 100 centres with total seating capacity of 60,000 seats, he said.

Explaining how the company, which employs about 210 people, is working towards its growth plans, Ramani told BusinessLine, “We have turned profitable and expect to close the current financial year with revenues of ₹160 crore up from ₹1.2 crore, ₹18 crore and ₹56 crore respectively over the past four years. And we are on course for a turnover of over ₹200 crore logging about ₹17 crore per month.”

“Our plans is to grow the business at a rapid pace and take the company to an IPO within the next three years,” he explained.

Mentioning about its Autonomous Work Space Solutions, Ramani said “a registered user can check into and walk out of a workspace without any human interface and carry out his business. By simplifying processes, we have acquired a strong customer base which includes the likes of Amazon and Microsoft among 1700 other companies and firms.”

In India co-working space is poised for growth and the enormous opportunities it presents Awfis will enable us to consolidate and expand at a rapid pace. We had raised over $ 51 million and the growth momentum continues, he said.

Visit the below link to read the published article: https://www.thehindubusinessline.com/companies/https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg-turns-profitable-set-to-expand-to-5-more-cities/article26567872.ece