Awfis, India’s largest and first publicly listed workspace solutions platform, continues to strengthen its leadership team, marking a significant milestone in its mission to redefine workplace solutions. The company has appointed distinguished industry leaders across Technology, Managed Office Solutions, and Design & Build to cater to the increasing demand across both Tier 1 and Tier 2 cities. These strategic hires reinforce Awfis’ commitment to innovation, operational excellence, and client-centric solutions.
As a testament to Awfis’ focus on strategic development, the company appointed Sanjay Baurai as Strategic Advisor for Workplace Solutions and Growth. With extensive expertise in corporate real estate strategy, large-scale operations, risk management, and business continuity, Sanjay brings a wealth of experience to the role. At Awfis, he will lead key initiatives across account management, co-working, manufacturing, government liaison, M&A integration for design and build, and overall business strategy, ensuring seamless execution, stakeholder engagement, and alignment with organizational goals.
To further build its rapidly expanding Managed Office portfolio across India, Awfis has appointed Parul Seth (National Head of business Development and Growth) Roshan Alva (Sr. National Director, Enterprise Business), and Rahul Kanungo (National Director, Sales). With extensive experience spanning real estate, banking, and technology; they bring a multidimensional perspective that will help Awfis solidify its leadership position as the preferred flex space provider in India.
To cater to the ever-increasing demand from GCCs, and large corporates for Design & Build solutions, Awfis has onboarded industry leaders with local understanding and design experts with global exposure to build world-class workspaces that resonate with the modern workforce. Some of the recent key hires include Noelle Bianca Aguilar and Debora Emert as Design Heads from the Philippines & USA respectively. On the business front, Awfis onboarded Kamal Pandey, Director, BD who brings over a decade of experience in the design & build industry. Awfis’ global design expertise coupled with an in-depth understanding of the Indian workspace and large on-ground teams gives it an added edge in delivering innovative, sustainable, and aesthetic workplaces.
On the technology front, Rohit Manghnani, the newly appointed Chief Product & Technology Officer, will spearhead Awfis’ digital transformation. With a strong track record in driving growth and operational efficiency, he will lead technological advancements to enhance system capabilities, ensuring seamless scalability and superior user experiences.
Commenting on the recent appointments, Mr. Amit Ramani, Chairman and Managing Director of Awfis Space Solutions Limited, stated, “The strategic expansion of our D&B, Managed Office, and Technology teams represents a significant leap in our capabilities. The collective expertise of these leaders enables Awfis to create workplace experiences that transcend traditional office spaces, fostering productivity, creativity, and business success. Their combined expertise and forward-thinking approach will play a pivotal role in shaping our next growth phase and reinforcing our position as an industry leader.”
The flex space industry is experiencing exponential growth, driven by a surge in entrepreneurs, start-ups, and the expanding GCC market in India. Awfis continues to expand its footprint, innovate within the flex space sector, and provide transformative solutions for businesses seeking to thrive in an evolving corporate landscape. With a strategic vision, advanced infrastructure, and a commitment to flexibility and scalability, Awfis is well-positioned to capitalize on this growing demand and reinforce its leadership in the industry.
About Awfis Space Solutions Limited
Awfis Space Solutions Ltd. (‘Awfis’) is India’s leading and only listed flexible workspace solutions provider offering the largest network of agile workspaces. The company enables small and large corporates to seamlessly book and utilize workspaces as per their requirement and convenience. The comprehensive suite of solutions includes Flex Space Solutions (Coworking and Enterprise Solutions), Mobility Solutions, Design & Build, Awfis Café, and TechLabs-advanced tech infrastructure. With a strong presence in 18 cities and 200+ centres, Awfis serves over 3,000 clients across diverse industries, ensuring scalable and adaptable workspace solutions for businesses of all sizes.
According to reports, Delhi-based Link Investment Trust, Mauritius-based Bisque Limited, and prominent venture capital company Peak XV Partners intend to offload Awfis shares valued at INR 583 Cr. The three investors will collectively offload a 12.2% interest, or 85.8 lakh shares, in the flexible workspace solutions company through a block deal, according to a media outlet, which cited sources. The investors will offload the shares for INR 680 each. Compared to the stock’s closing price of INR 717.05 on 10 December, this indicates a 5.2% discount. IIFL Capital Services and ICICI Securities are the deal’s book runners.
As of September 2024, Bisque and Link Investment Trust owned 14.38% and 0.36% of Awfis, respectively, while promoter Peak XV owned 10.92% of the coworking space provider. Awfis’s stock has increased by more than 70% since its launch in May, although it has decreased by 7.5% in the last month.
Brokerages Continue to be Bullish on the Company
Up to five analysts that follow the company have a “BUY” rating on the stock, indicating that brokerages are still positive on the business. The optimistic forecast is primarily due to Awfis‘s quick expansion and acquisition of new office space. The company said last month that it would develop and oversee the National Stock Exchange’s 1.65 lakh square feet of office space in Mumbai. Rounak Real Estate Consultants, a company that specialises in high-value real estate advice services, helped to facilitate Awfis’ collaboration with the NSE.
Amit Ramani founded Awfis in 2015, and as of March 2024, it has 181 facilities, over 1.1 lakh seats, and 5.6 million square feet of billable space, making it the largest flexible space operator in India. The business began as a coworking network before branching out into the market for tech-enabled workspace solutions.
Awfis Financial Dynamics
In Q2 of the fiscal year 2024–2025 (FY25), it posted a consolidated net profit of INR 38.67 Cr. In Q2 of FY24, on the other hand, it reported a net loss of INR 4.34 Cr. During the reviewed quarter, operating revenue increased 40.46% from INR 208.15 Cr in Q2 FY24 to INR 292.38 Cr. On the BSE, Awfis’s shares ended on December 10, trading session 0.15% lower at INR 716.95.
According to Amit Ramani, chairperson of Awfis Space Solutions, the recently signed NSE contract will help the company’s income in both the current fiscal year and the fiscal year 2025–2026. Ramani had told a media outlet that the contract would “certainly help” with the 30% revenue projection that the company had provided for FY25.
Awfis and Nyati Group also collaborated in August to build an extra 3 lakh square feet of Grade-A workspace. It intends to open first-rate flexible workspaces in the prestigious commercial buildings “Nyati Empress” in Viman Nagar and “Nyati Enthral” in Kharadi, both owned by the Nyati Group.
Awfis, a coworking space provider, stated that one of its executives had broken insider trading regulations. Anandita Seal Sarkar, Awfis’s vice president of sales, sold 15,764 firm shares with previous approval, but on the same day, she bought 25 shares without the compliance officer’s prior consent, according to an exchange filing. On September 30, the 25 shares were purchased for INR 698.44 each, for a total of INR 17,461, whereas the shares were sold for INR 693.02 each, for a total of INR 1.07 lakh. According to the corporation, this violated the 2015 Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations code of conduct.
How Issue Got Highlighted?
According to Awfis, the problem was found on November 26 during a normal examination and was sent right away to its audit committee. At this point, the panel will make a decision. Both the board chairman and the chairman of the audit committee have been informed of the situation. In accordance with the code of conduct’s obligations, the audit committee will take any appropriate measures, according to the document. Notably, this is not the first instance in which a listed startup’s leadership has been in hot water for violating insider trading regulations.
Honasa Consumer, the parent company of Mamaearth, told the stock exchanges last year that a senior official of the firm had violated insider trading regulations by trading shares for INR 15 lakhs without the company secretary’s or compliance officer’s prior consent. Awfis shares were launched on the BSE in May of this year at INR 432.25 each, which was 12.8% more than the company’s issue price of INR 383. Profitable figures and a positive outlook have since propelled the stock upward.
Financial Dynamics of Awfis
For the second quarter of FY25, Awfis Space Solutions recorded operating revenue of INR 292.38 crore, up 40.46% from INR 208.15 crore in the same period last year. In the July–September quarter, the co-working space provider reported a net profit of INR 38.67 crore, up from a loss of INR 4.34 crore in the second quarter of FY24. As the business grew to meet demand, increasing subcontracting, labour, and operating costs drove a 30.85% YoY increase in total expenses to INR 287.29 crore. Employee expenditures jumped 16.75% to INR 39.38 crore, while subcontracting expenses, which are linked to its profit-sharing model, increased 30.80% YoY to INR 56.13 crore.
Additionally, operating expenses increased 30.41% year over year to INR 87.01 crore. With a 43% quarter-over-quarter rise, the core business segment—renting co-working spaces and associated services—generated INR 218.31 crore, or roughly three-fourths of revenue. At INR 68.15 crore, revenue from fit-out and construction projects increased by 36.3% as well.
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The coworking industry in India is at its peak and is set to become a mainstream segment. By the end of 2024, there are expected to be around 41,975 coworking spaces worldwide. Coworking is an innovative way of working, where different companies share the same space and collaborate.
Founded by Amit Ramani in 2015, Awfis Space Solutions offers coworking and shared office spaces for rent, along with affordable facilities. The company also launched ‘Awfis@Home’, starting at a monthly subscription fee of INR 2,500. This initiative provided physical and IT infrastructure for remote work, giving a significant boost to Awfis’ market presence.
In this article, learn more about Awfis, its founder, business model, IPO, funding, revenue, growth, and more.
Awfis (Awfis Space Solutions Private Limited) has been able to build a niche for itself within the ever-evolving coworking segment, largely owing to its unceasing commitment to providing high-grade workspaces and amenities at an affordable cost. It understands India’s market and its key challenges from a commercial real estate perspective. The company has been able to successfully cater to the client base by providing them with an integrated workspace solution and a hassle-free experience. Awfis also offers a Virtual Office solution that helps you create a professional image for your business without booking an actual physical space. Besides, Awfis Mobility Solutions, lets one work from anywhere.
“We see ourselves as our client’s partners, not mere service providers. We have built a best-in-class mobile app that helps book workspaces & meeting rooms on ‘Just-in-time’ basis. We also have a range of ‘Mobility Solution’ products for today’s work-on-the-go population along with our newly launched product ‘Awfis Enterprise Solutions’ that caters to SMEs and mid & large sized corporates helping them set up their head offices & satellite offices with us” Amit Ramani says explaining Awfis’ products
The core belief of Awfis Space Solutions is to bridge the existing Commercial Real Estate (CRE) gap in India by transforming commercial assets into Grade A workspaces and making them accessible at affordable prices. The aim is to provide a commercially viable solution to the workforce of India owing to the highly price-sensitive and extremely rational Indian consumer. The company strongly believes that with their unique bouquet of products and services, they have been able to provide a feasible solution to Indian businesses, thereby creating an enriching work experience.
India’s coworking industry is growing fast, with the market expected to reach $2.84 billion by 2030. This growth is driven by several factors, including changing work landscape, cost-effective, collaborative environment, and scalability.
The coworking space market in India has grown to over 13 million square feet and is still expanding. It’s growing not only in big cities like Delhi-NCR, Mumbai, Bangalore, and Chennai but also in smaller tier 2 and tier 3 cities.
Awfis – Startup Story | How was Awfis Started?
Coworking as a segment has been prevalent in the US for the last 10-15 years where the founder, Amit Ramani, had prior professional experience.
The idea to launch Awfis and re-conceptualize the co-working segment in India struck him when he witnessed the status of the majority of the commercial spaces here. Extremely disorganized, a complete lack of transparency, and the absence of a conducive environment for employees to work in, it led him to believe that co-working was the perfect solution for India’s market and to pave the way forward for a highly flexible workforce of our country.
Awfis – Founders and Team
Amit Ramani is the founder and CEO of Awfis.
Amit Ramani – Founder & CEO, Awfis
Amit has been a serial entrepreneur with 18 years of experience with a focus on building sustainable businesses that solve real-world problems. Before Awfis, he served as the Founder and Managing Director of NELSON Asia, a company focused on providing design & build solutions to global & Indian multinationals. Amit’s extensive experience in strategic planning, design management, and workplace & business process improvement has allowed him to work in different leadership positions as well as a speaker and guest author for reputed platforms.
Mr. Amit Ramani is a member of the Young President’s Organization (YPO) Delhi Chapter which is a group of top 200 business leaders and owners in the community.
He has been an active member of the International Facilities Management Association CoreNet for eight years and serves on the board for the latter’s Charlotte Chapter.
His work has been published in the Journal of Corporate Real Estate and he has been a frequent speaker at industry forums such as CoreNet Global Summit on topics ranging from real estate strategy to developing effective work environments.
He is also an active member of RICS and NASSCOM.
His contribution to the field of real estate and facility planning has made him the recipient of the prestigious IFMA Foundation award three years in a row.
He has also been a guest lecturer at Cornell University, New York University, and Texas A&M.
Here is the shareholding pattern of Awfis as of May 2024:
Shareholding
Percentage
Peak XV Partners
22.9%
Chrys Capita (Bisque Ltd)
23.5%
Amit Ramani
18.2%
QRG Investments
9.6%
VBAP Holdings
9.4%
Ashish Kacholia
5%
Others
11.2%
Link Investment Trust
0.4%
Awfis Shareholding Pattern as of May 2024
Awfis – Name, Tagline, and Logo
Awfis Logo
Awfis’ name comes from the way ‘office’ is pronounced.
Awfis – Business Model
Awfis operates under two leasing business models: Managed Aggregation and Straight Lease and Design & Build Model.
Managed Aggregation Model: This is asset-light and risk-averse. In this approach, Awfis partners with landlords or developers who typically cover part or all of the fit-out capital expenditure.
Straight Lease Model: Awfis leases space from developers or property owners under traditional terms, including a fixed monthly rental, common area maintenance charges, security deposits, minimum lock-in periods, lease tenure, and escalations. In this model, Awfis fully funds the capital expenditure for fitting out the property.
Design & Build Model: Awfis collaborates with clients to create designs tailored to their business needs. Additionally, Awfis offers Mobility solutions, which include day passes, meeting rooms, and virtual offices, ideal for freelancers and new entrepreneurs or startups.
Awfis – Revenue Model
The company primarily deploys two models i.e. the Straight Lease Model and the Managed Aggregation Model (MAM). Among the two, MAM has been able to give them an edge due to its unique proposition wherein Awfis partners with space owners of underutilized commercial spaces and strikes a ‘no minimum guarantees’ deal – where the space owner makes the investment on fit-out infrastructure and builds out a center. The profits from the center are shared with a higher percentage going to the space owner.
Capital efficiency is an advantage of MAM, which enables to multiply our growing capacity by almost 4-5 times. Currently, 60% seats are under MAM and we intend to increase this to 70 – 80% in the coming year – Amit says
Awfis – User Acquisition
Awfis was launched way back in 2015 in New Delhi with one center in Vasant Kunj. In July 2017, the company had 5,800 desks across 20 centers. Having grown steadily throughout the last few years, they have expanded to 35,000 seats across 70 centers in just 4 years. This indicates a growing audience,
Our biggest marketing channel has been our customers itself, who, with their positive feedback and positive word of mouth, have been our biggest strength to us. We have managed to consistently gratify our user base by enabling complete transparency while enhancing relationships with both internal and external stakeholders. Additionally, staying true to our belief “where work meets life”, we are providing our members a platform to interact, collaborate and do business within the community.
The company also provides access to over 1000 events and experiences annually to its community members so as to maintain work-life balance and have fun while working.
Awfis has raised a total of $134.6 million in funding in over 9 funding rounds from different investors. Their last funding round was in June 2023 which was a venture round, led by A91 Partners.
Date
Stage
Amount
Investor
June 19, 2023
Venture Round
$40 million
A91 Partners
December 5, 2022
Series E
$1.96 million
Bisque
June 1, 2022
Series E
$7.8 million
–
March 12, 2021
Venture Round
$5.5 million
–
May 26, 2020
Debt Financing
$4.8 million
–
August 6, 2019
Series D
$30 million
Chrys Capital, Sequoia Capital India & The Three Sisters Institutional Office,
May 24, 2019
Series c
$3.01 million
Peak XV Partners, Yes Bank
July 25, 2018
Series C
$20 million
InnoVen Capital, Peak XV Partners
April 26, 2017
Series B
$20 million
Peak XV Partners
Awfis – Growth / Revenue
Awfis revenue stood at INR 849 crore in FY24 and INR 545 crore in FY23.
Awfis is currently spread across 181 centers in 17 cities with more than 100,000 seats. It had set its eyes on the expansion in Tier 2 cities and solidified its presence in Tier 1 cities which materialized by expanding to Kochi, Jaipur, Bhubaneshwar, Ahmedabad, and Indore. 80% of the then userbase of Awfis belonged to the Tier 1 cities.
Awfis plans to expand further across India with a net addition of 5,368 seats and 9 centers in Q1FY25 and a total of 40,000 new seats in FY25, bringing the total seat count to 1,35,000.
In terms of the user base, the company serves over 1500 companies ranging from India’s leading startups/ MSMEs to Fortune 500 companies, forming the largest co-working community in India. Breaking up Awfis’ revenue, SMEs account for 40 percent, corporates 40 percent, and 20% of revenue comes from startups and freelancers. In terms of community members, Awfis has over 28000 community members.
Awfis has managed to successfully establish itself with an extremely strong foothold in the rapidly evolving co-working sector.
Awfis’ success mantra of providing ‘Value driven services for Value focused companies’ has enabled it to spearhead the growth of this sector in India and made Awfis synonymous with co-working. Awfis has become profitable at the entity level since November 2018 and is planning to launch a public issue in 2024.
“A homegrown brand, at Awfis, we have a deep rooted understanding of our consumers’ needs and are growing year on year at a quick pace. We identify underutilized assets, partner with land owners and deliver Grade A workspaces. We have efficiently deployed our resources to meet our business requirements without hampering the quality of workspaces provided. The entire product portfolio is such that it keeps us ahead of the game.” quotes Awfis founderAmit Ramani.
Some of the prominent expansions of Awfis in 2024 are:
Awfis launched two co-working centers in Bengaluru in August 2024.
The company opened a new co-working center in GIFT City, Gandhinagar in September 2024.
Awfis reported a net profit of INR 38.67 crore in Q2 FY25, compared to a net loss of INR 4.34 crore in the same period last year.
The company’s operating revenue rose 40.46% year-on-year to INR 292.38 crore for the quarter. Including other income of INR 9.56 crore, total revenue grew by over 40%, reaching INR 301.95 crore for the quarter ending September 30, 2024.
Awfis Financials
FY23
FY24
Operating Revenue
INR 545 crore
INR 849 crore
Total Expenses
INR 612 crore
INR 892 crore
Profit/Loss
INR -46.16 crore
INR -17.80 crore
Awfis Financials FY24
Awfis increased its operating revenue by 55.8%, going from INR 545 crore in FY23 to INR 849 crore in FY24. Total expenses rose by 45.8%, moving from INR 612 crore in FY23 to INR 892 crore in FY24. As a result, the company reduced its losses by 61.4%, from INR 46.16 crore in FY23 to INR 17.80 crore in FY24.
Awfis Expenses Breakdown
Awfis’ total expenses rose by 30.85%, reaching INR 287.29 crore in the September 2024 quarter, up from INR 219.55 crore in the same quarter last year.
Awfis witnessed a notable increase in expenses, surging from INR 612 crore in FY23 to INR 892 crore in FY24.
EBITDA
In the first nine months of FY24, Awfis earned INR 617 crore in revenue from customer contracts, up from INR 545 crore in FY23. Its EBITDA was INR 196 crore with a margin of 31%, the same as last year.
The IPO for Awfis Space Solutions opened on 22nd May 2024 and closed on May 27, 2024. The share of Awfis IPO was listed on 30th May 2024. It was very successful on the first day, with a lot of interest from retail investors and NIIs. The IPO ended with bids that were more than 108 times the number of shares the company offered. The IPO included a new issue of 3,342,037 shares worth INR 128 crore and an Offer-for-Sale (OFS) of 12,295,699 shares worth INR 2,470.93 crore. The total IPO size was INR 598.93 crore. The price range was set at INR 364 to INR 383, with a lot size of 39 shares.
Awfis – Controversy
On November 27, 2024, Awfis Space Solutions reported an insider trading violation by its Vice President of Sales, Anindita Seal Sarkar. Sarkar sold 15,764 shares at INR 693.02 each for a total of INR 1.07 crore on September 30, 2024, and later bought 25 equity shares at INR 698.44 each for INR 17,461, without the required clearance. The breach was identified during a routine review on November 26, 2024. Awfis referred the matter to its Audit Committee, stating that Sarkar’s actions violated company policies and regulatory standards. Despite the breach, Awfis confirmed that no monetary penalty had been imposed and that there had been no prior violations reported in the current fiscal year.
Awfis – Future Plan
Awfis Space Solutions aims to increase its seats by 50% to reach 135,000, focusing on managed office spaces to grow its revenue. The company plans to add 40,000 seats by FY25, with new centers using the managed aggregation model. A report shows that 15,084 seats were added successfully, mainly through the managed aggregation model. The company is also aiming for a 30% revenue growth in FY25.
FAQs
What is Awfis?
Awfis is a co-working space provider founded in 2015 and based out of New Delhi.
Who is Awfis owner?
Awfis was founded by Amit Ramani.
What are co-working spaces?
Co-working spaces, just as the term indicates, are working spaces that are shared by two or more employers.
In this exclusive interaction with StartupTalky, Mr. Sumit Lakhani, Deputy CEO of Awfis Space Solutions Ltd., talks about Awfis’ journey from a co-working startup to India’s largest integrated workspace solutions company. He explains their flexible workspace offerings for startups, SMEs, and large corporations and discusses Awfis’ exciting partnerships with IITs to support entrepreneurship. Lakhani also shares an inside look into the strategic milestones of Awfis, including the experience of the Awfis IPO and ongoing plans for expansion into Tier 2 cities. He also talks about his vision for the company and how Awfis is using technology to enhance its offerings.
StartupTalky: Give us a brief overview of Awfis Space Solutions Ltd and its evolution from a co-working space to an integrated workspace solutions platform.
Mr. Lakhani: Awfis Space Solutions Ltd. has evolved from a pioneering co-working provider to a comprehensive workspace solutions platform, meeting the changing demands of India’s modern workforce. Established with a vision to be the workplace of choice for the global workforce., Awfis initially focused on creating collaborative, flexible co-working spaces across major cities. This foundation soon evolved into an integrated platform catering to a wide spectrum of workspace needs.
Today, Awfis supports businesses of all sizes, including startups, SMEs, and large enterprises, by offering agile workspace solutions that range from co-working and enterprise-managed offices that cater to all their business and employee needs. Its ability to respond dynamically to evolving market trends—particularly the rise in demand from Global Capability Centers (GCCs) and Tier 2 cities—has fueled its growth and market reach. Through ongoing innovation and strategic expansion, Awfis has solidified its position as a leader in India’s workspace solutions industry, driven by a commitment to flexibility, scalability, and design excellence.
Awfis Journey So Far
StartupTalky: What types of flexible workspace solutions does Awfis offer, and how do these meet the different business needs of startups and large corporations?
Mr. Lakhani: Awfis delivers a broad spectrum of flexible workspace solutions tailored to the distinct needs of startups, SMEs, and large corporations. Our offerings include coworking spaces, managed offices, design & build solutions, mobility options, and a range of allied services. With a robust product portfolio and extensive network, we serve freelancers, entrepreneurs, startups, SMEs, and large corporations across India and Global Capability Centres (GCCs). Awfis’ solutions combine agility, scalability, and customizability, empowering startups to prioritize growth and equipping large corporations with dynamic, cost-effective spaces that seamlessly adapt to evolving business demands.
StartupTalky: How will Awfis support startup growth through its partnership with IIT Kanpur, IIT Bombay, and IIT Madras in flagship events like UpStart 2024, Eureka 2024, and Elevate 2025 with workspace credits and mobility solutions?
Mr. Lakhani: We are thrilled to empower the next generation of startups through our partnership with IIT Kanpur, IIT Bombay, and IIT Madras. As India’s largest flexible workspace provider, Awfis is dedicated to promoting entrepreneurial growth and supporting innovative ideas. Through this collaboration, we are offering winners 100 hours of workspace credits, 50 hours for runners-up, and a 25% discount on our mobility solutions, which include access to meeting rooms, day passes, virtual offices, and our Virtual Office Plus offering—each designed to meet the dynamic needs of early-stage businesses.
Born from an entrepreneurial spirit, this partnership underscores our commitment to driving innovation and supporting startup success. By providing flexible, convenient workspaces, we enable startups to focus on what truly matters which is disruptive ideas that will enhance India’s position on the world map. We are proud to support the startup ecosystem and look forward to the remarkable ideas emerging from UpStart 2024, Eureka 2024, and Elevate 2025.
StartupTalky: Awfis recently entered into a business transfer agreement with SMS Integrated Facility Services. Can you explain the strategic significance of this move for Awfis?
Mr. Lakhani: Awfis entered into a Business Transfer Agreement with SMS Integrated Facility Services Private Limited (“SMS”), for the divestiture of its Facility Management division – Awfis Care for a sale consideration of INR 27.5 crores. SMS Integrated Facility Services (SMS IFS) Private Limited, a Samara Capital company, is one of India’s leading pan-India integrated facilities management firms. Awfis will benefit from the expertise of a specialized player like SMS with their distinctive capabilities in people management, digital operations, and facility cost optimisation, while maintaining the highest standards of compliance and governance.
This move will reduce Awfis’ administrative overheads, and compliance requirements, and enhance operational efficiencies. Additionally, the transaction will be cash flow accretive, freeing up working capital and leading to improvement of the working capital cycle. This increased liquidity will provide the company with additional financial bandwidth to invest in growth and expansion.
StartupTalky: What is Awfis’ business model, and how does it differentiate itself in the competitive flexible workspace market?
Mr. Lakhani: We operate under two leasing models: Managed Aggregation and Straight Lease. The Managed Aggregation model, pioneered by Awfis, is an asset-light and risk-averse. In this approach, we partner with landlords/developers, who typically cover part or all the fit-out capital expenditure. Under the Straight Lease model, we lease space from developers or property owners under traditional terms. This includes a fixed monthly rental, common area maintenance charges, security deposits, minimum lock-in periods, lease tenure, and escalations. Awfis fully funds the capital expenditure for fitting out the property.
In Design & Build we partner with the clients and create designs as per their business requirements. We also offer Mobility solutions which include day passes, meeting rooms, and virtual offices suitable for freelancers and new entrepreneurs/startups.
Awfis Growth Strategy
StartupTalky: Who are your primary clients, and what has been the feedback from them regarding Awfis’ services?
Mr. Lakhani: We cater to a diverse client base, comprising 68% Corporate MNCs, 20% SMEs, 11% startups, and a small segment of freelancers. Our clients, both domestic and international, consistently commend the comfort and convenience they experience at every Awfis centre. With thoughtfully designed spaces that blend aesthetics and functionality, we enhance productivity and support employee well-being. Our vibrant community events further promote collaboration, conversation, and connection, creating a dynamic work environment for all.
StartupTalky: Are there any plans for expansion in terms of new locations or service offerings in the coming year?
Mr. Lakhani: We are driving expansion through both geographic reach and diversification of our offerings, introducing products and services that elevate client experiences, streamline business operations, and empower clients to focus on their core growth strategies.
Our plans include a stronger presence in Tier 2 cities, where the demand for flexible workspaces is steadily rising, providing businesses access to premium work environments outside major metro areas.
Across our portfolio, we are set to add 40,000 new seats by the end of FY25, further consolidating our position in this dynamic market. This growth is propelled by the rising demand for flexible workspaces, a thriving startup ecosystem, and the robust expansion of Global Capability Centres (GCCs).
Awfis India’s Largest Flexible Workspace Provider
StartupTalky: Can you share insights into Awfis’ financial performance since its IPO? How has the share price reacted to the broader market trends?
Mr. Lakhani: Since our IPO, we have demonstrated consistent and growth-oriented performance. Revenue from operations has increased by 37% year-over-year, while operating EBITDA surged by 56%, resulting in an operating EBITDA margin of 30.7%.
Our successful IPO reflects our commitment to financial prudence and strategic growth. Over the past year, we launched 50 new operational centres, adding 33,641 seats. This represents a year-over-year growth of 43% in operational seats and a 40% increase in operational centres. Notably, 10% of these new centres are located in Tier 2 cities, highlighting our ongoing expansion strategy in these emerging markets.
Post-IPO, Awfis’ share price has demonstrated robust growth. As of November 5, 2024, the stock closed at INR 728.80 on the NSE, reflecting a significant increase from its listing price.
StartupTalky: What strategies did Awfis implement during its IPO process, and how have they contributed to the company’s current standing in the market?
Mr. Lakhani: Clear, open, and most importantly planned communication has been a cornerstone of our organisational growth. We regularly organised town halls to ensure that every teammate at all levels, is informed and aligned throughout each aspect of the business.
Before the official IPO process began, we had an offsite where in an open forum we laid out our IPO mission. This was followed by a leaner growth meeting with next-in-line leaders to chart out a strategic short-term path and long-term metrics. A core IPO team was formed to adhere to and drive the process. Navigating the IPO process required strict adherence to regulations, complete transparency, and timely stakeholder communication.
Our external advisors were instrumental in assessing IPO readiness, shaping our narrative, and building investor confidence. Well-coordinated roadshows generated significant interest, while our legal counsel ensured compliance with regulatory standards, simplifying the complex documentation process.
Founded just nine years ago, Awfis was the first company in the flexible workspace sector to go public, facing unique challenges and without any precedents to guide us. At that time, coworking was still an emerging concept and had yet to establish its significance in the real estate market. Our oversubscription of 108 times not only provided a substantial boost to the flexible workspace industry but also solidified our position as a trusted leader, enhancing investor confidence.
Today, Awfis stands at the forefront of India’s coworking landscape, recognized for its diversified portfolio, extensive network, and transformative impact on the flexible workspace sector.
StartupTalky: How do you envision Awfis evolving in the market following the IPO, and what growth opportunities do you foresee?
Mr. Lakhani: The growing startup culture, the rise of Global Capability Centres (GCCs), and the increasing demand for flexible workspaces—preferred by both modern employees and corporations for enhancing productivity and promoting employee well-being—have solidified the position of flexible spaces within the commercial real estate sector.
As the only publicly listed player with the largest network in the country, Awfis stands out as the preferred provider of flexible workspaces. Our robust growth in the flex space industry is further underscored by the overwhelming success of our IPO, which was oversubscribed by 108.56 times. This achievement has enhanced our brand visibility, boosted investor and market confidence, and reinforced our status as a leading and trusted flex space provider in the commercial real estate market.
Awfis Team at the IPO Launch
StartupTalky: How does technology play a role in enhancing the services provided by Awfis, especially in the context of hybrid work environments?
Mr. Lakhani: Awfis offers a comprehensive suite of services within a diversified product portfolio, including TechLabs, where the company has developed advanced IT protocols and cutting-edge technology infrastructure. These measures not only safeguard sensitive information but also shield clients from cybersecurity threats.
Awfis integrates smart access and visitor management systems for enhanced on-site security, ensuring seamless tech-driven operations. In addition, the company provides advanced technology support through Data Center solutions, Cloud Computing, Network Solutions & Integration, Client-Side Computing, and a full range of Software & Hardware solutions. With robust cybersecurity solutions and a fully functional digital workplace, Awfis enhances efficiency and confidentiality for clients. Through user-friendly mobile apps, tenants can easily book workspaces and access services, elevating the overall experience.
StartupTalky: As the Deputy CEO, what is your personal vision for Awfis, and how do you plan to lead the company towards achieving its goals?
Mr. Lakhani: We recognize that the future of work requires a blend of flexibility, adaptability, and innovation. Today’s demand for commercial workspaces is driven by a diverse ecosystem of large corporations, mid-sized companies, small businesses, and startups. The IT sector, historically the dominant consumer of these spaces, now shares that demand with IT offshoring, Global Capability Centres (GCCs), BFSI, and India-focused IT companies.
Additionally, post-pandemic demand for flexible spaces has tripled, a trend we expect to continue given the appeal of convenience and customization—placing us in a strong position for growth. Our Design & Build solutions allow us to craft spaces tailored to meet clients’ unique business, aesthetic, and employee requirements.
Meanwhile, our mobility solutions empower freelancers, new startups, and solopreneurs with flexible, ready-to-use infrastructure that supports their specific needs in a hassle-free manner.
We want to build a transformative workspace ecosystem that not only promotes innovation and collaboration but also drives sustainable growth for businesses across India. Our aim is to expand across India, reaching every corner to empower entrepreneurs with a platform for growth and innovation, becoming integral to India’s growth story. This comprehensive approach will enable Awfis to continue evolving as a leader in the coworking space industry, delivering value to our clients, communities, and stakeholders alike.
Amit Ramani’s story is anything but ordinary. Born on April 15, 1974, Amit’s passion for architecture wasn’t something people around him saw coming.
The turning point? When Amit founded Awfis in 2015, India’s startup culture was booming, yet there was a massive gap in flexible, affordable office solutions. Mr. Ramani, always the forward-thinker, seized the moment. With his vast real estate and workplace strategy expertise, he brought Awfis Space Solutions Pvt. Ltd. to life, a tech-enabled platform offering everything from freelancer co-working hubs to complete office solutions for corporates.
In this StartupTalky biography, we explore the milestones that defined Mr. Ramani’s career, the challenges he faced while establishing Awfis, and the unique solutions that have made his company a household name in the world of co-working spaces.
Amit Ramani – Biography
Name
Amit Ramani
Born
April 15, 1974
Education
School of Planning and Architecture, Delhi
Occupation
Real Estate, Facility Planning, Workplace Strategy
Position
Founder and CEO of Awfis Space Solutions
Wife
Simran Ramani
Net worth
$75 million
Amit Ramani – Education
Mr. Ramani’s academic path began at the prestigious School of Planning and Architecture in New Delhi, where he earned his B.Arch in 1994. But that was just the beginning of his exploration into the world of design and spaces. He packed his bags and headed to Kansas State University in the U.S., where he completed his master’s degree in Architecture in 1999. Amit’s passion for understanding how spaces shape experiences didn’t stop there—he went on to pursue a specialized master’s in Real Estate and Workplace Strategy from Cornell University in 2001, further honing his expertise in crafting efficient and inspiring environments.
Amit Ramani – Career
Before Amit became the mastermind behind Awfis, he gained valuable experience as a senior consultant at HOK, a global design, architecture,
and engineering firm. His role there sharpened his business acumen, which he later applied in his work with Bank of America as a business partner. After spending 12 years in the U.S. learning the ropes of both architecture and business, Amit decided it was time to return to India and make his mark in his home country.
Upon his return, Amit’s entrepreneurial journey truly began. He co-founded three ventures: NELSON, an architectural and design firm, Petra, a construction management company, and finally, Awfis, the co-working space that would change the landscape of flexible workspaces in India.
Amit Ramani’s early career is a testament to how passion, combined with strategic education and hands-on experience, can lead to creating something transformative. His path wasn’t always straightforward, but each step brought him closer to revolutionizing the way people work.
Amit Ramani – Journey with Awfis
In just a few years, Mr. Amit Ramani, the visionary behind Awfis, has revolutionized the concept of coworking, transforming it into a tech-powered workspace solutions platform. What began as a simple flexible office space provider has evolved under his leadership into a comprehensive ecosystem, addressing every aspect of modern work needs. Awfis now offers everything from Flex Workspaces to Enterprise Solutions and custom Design & Build services through Awfis Transform. Thanks to Mr. Ramani’s forward-thinking approach, Awfis not only manages workspaces with its ‘Awfis Care’ platform but also supports remote working and work-from-home solutions, staying ahead of workplace trends.
Today, Awfis boasts over 100 centers with more than 62,000 seats spread across 14 cities in India, all driven by Mr. Ramani’s mission to reshape the way people work. Whether it’s for freelancers, entrepreneurs, or large enterprises, Awfis creates adaptable and vibrant spaces for everyone. Its flexible leasing options—ranging from hourly bookings to yearly contracts—allow businesses to scale seamlessly while enjoying access to multiple locations across the country.
Under Mr. Ramani’s guidance, Awfis has grown into far more than just a provider of desks and Wi-Fi. With fully equipped meeting rooms, printing services, and even a permanent business address, Awfis covers all the essentials of a modern office at highly competitive prices. Today, over 1,500 companies and 28,000 professionals, from innovative startups to Fortune 500 giants, call Awfis their workspace.
Awfis achieved a 55.8% growth in revenue for the fiscal year ending March 2024. Its operational revenue increased from INR 545 crore in FY23 to INR 849 crore in FY24, as per the company’s consolidated financial statements filed with the stock exchange. Additionally, the firm’s losses were reduced by 61.8%, bringing the total loss down to INR 17.8 crore for FY24.
Awfis Financials FY24
Going beyond the physical space, Mr. Ramani has also ensured that Awfis fosters community and growth. The platform hosts over 500 exclusive events and workshops annually to encourage professional development and networking. Through its Rewards Program, Awfis has partnered with over 100 strategic service providers, making it the go-to solution for evolving business needs.
Owing to Amit Ramani’s leadership, Awfis has become more than just a place to work—it’s a dynamic platform that adapts to the demands of the modern workforce.
CEO Amit Ramani’s ringing of the bell at NSE India in June 2024, symbolized both marking a milestone and ushering in a new era for Awfis Space Solutions Limited and coworking in India. With Mr. Ramani at the helm, Awfis transformed from a single center in New Delhi to over 160 centers, from 1 city to 16, it took them more than 3000 days and nights to build Awfis. Today, as they become the first Indian company in the co-working category to successfully go public, their IPO reflects the relentless effort and innovation of their remarkable team, the unwavering support of their network, and the quiet faith of their community.
For the fourth year in a row, the Great Manager Institute® has honored Awfis and Mr. Amit Ramani by naming him one of the Top 25 CEOs, MDs, and Founders. This accolade is more than a personal achievement; it highlights the hard work and dedication of our incredible team at Awfis. Their relentless perseverance, innovative spirit, and steadfast commitment have been the key drivers of our success.
Mr. Amit Ramani is a key member of the Young President’s Organization (YPO) Delhi Chapter, which connects the top 200 business leaders and entrepreneurs in the community.
He’s been actively involved with the International Facilities Management Association (IFMA) and CoreNet for the past eight years and even serves on the board of CoreNet’s Charlotte Chapter. His insights on real estate strategy and creating effective workspaces have earned him a spot as a regular speaker at top industry events like the CoreNet Global Summit. His work has been featured in the Journal of Corporate Real Estate.
Beyond that, he’s also an active member of RICS and NASSCOM, continuously contributing to the industry.
His impressive work in real estate and facility planning has won him the prestigious IFMA Foundation Award three years in a row.
As a thought leader, Mr. Ramani has also shared his expertise as a guest lecturer at Cornell University, NYU, and Texas A&M, helping shape the next generation of professionals.
Amit Ramani – Interests
Amit Ramani is a man of many passions and his interests reflect a deep commitment to making a difference across various fields. From arts and culture to civil rights and social action, he’s driven by a desire to create positive change. His work in economic empowerment and education shows how much he values opportunities for growth and development, while his focus on health and science & technology keeps him at the cutting edge of innovation. Whether it’s through mentoring, speaking at global forums, or just his everyday work, Amit’s diverse interests keep him engaged and always thinking about the bigger picture.
FAQs
Who is Amit Ramani?
Amit Ramani is the founder and CEO of Awfis Space Solutions.
What is the net worth of Amit Ramani?
The net worth of Amit Ramani is $75 million (2024).
What is Awfis?
Awfis (Awfis Space Solutions Private Limited) has been able to build a niche for itself within the ever-evolvingcoworking segment, largely owing to its unceasing commitment to providing high-grade workspaces and amenities at an affordable cost.
The facility management division of Awfis Space Solutions Limited, which provides flexible workspaces, has been sold to SMS Integrated Facility Services Private Limited for a fee of INR 27.5 crore under a business transfer agreement. This deal, which Awfis has been working with exclusively through Maple Capital Advisors, is set to close in 120 days.
Samara Capital’s SMS Integrated Facility Services (SMS IFS) Private Limited ranks high among the best-integrated facility management companies in India. Across Tier 1, Tier 2, and Tier 3 cities in India, it oversees more than 5,000 facilities for over 500 clients and employs over 21,000 people.
Sustainability advice, technical and managed services, and soft services are just a few of the many integrated facilities management offerings it makes available. For this deal, Awfis retained the services of Singhania & Co.
How Awfis Will Benefit From This Deal
While adhering to the highest standards of compliance and governance, Awfis will be able to reap the benefits of the experience of a specialised player such as SMS, which possesses specific strengths in the areas of people management, digital operations, and facility cost efficiency. The administrative overheads of Awfis will be reduced, compliance requirements will be reduced, and operational efficiencies will be improved as a result of this change.
The Deal Will Enhance the Working Capital of Awfis
The deal will build up working capital, which will contribute to an improvement in the working capital cycle. This will be a cash flow accretive transaction. The company will have more financial flexibility as a result of this improved liquidity, which will allow it to invest more dollars in growth and expansion.
Amit Ramani, Managing Director and Chairman of Awfis Space Solutions, stated that by forming a partnership with a specialist such as SMS, company will be able to effectively allocate its capital and management resources towards key priorities. These priorities include strengthening firm’s position in the market for flexible workspaces, expanding its network, and driving innovation in customer experience and technology integration.
About Awfis
In terms of total centres, Awfis Space Solutions Ltd. (‘Awfis’) is the biggest provider of flexible workspace solutions in India (as of December 31, 2023). Startups, small and medium enterprises (“SMEs”), big organisations, and multinational corporations all rely on its flexible workspace solutions, which cover a range from individual desks to fully tailored office spaces. The seat groups that firm’s flexible workplace solutions can accommodate vary greatly, from one to multiple seats, and its clients can contract them for periods ranging from an hour to several years. From Awfis’ humble beginnings as a shared office space, it has grown into a comprehensive platform for office solutions.
These days we are getting almost everything at our doorsteps, thanks to all the great startups that have made it possible. But do you know that there are some great startups that provide you even real estate services at your fingertips?
Technology has made this process very easy. One can have all the information related to a property with just a click on the internet. The real estate industry is using enhanced technologies like Machine Learning, AI and other powerful tools to enhance customer services. Real estate has become the current hot industry among working employees and students who are away from their hometowns.
Everyone wants a piece of land. It’s the only sure investment. It can never depreciate like a car or washing machine. Land will only double its value in ten years. – Sam Shepard, American actor, and author
As per a report from Statistica.com 99% of the residents aged between 31-40 years use the internet while searching for a home in the US. India is also a developing nation and the internet has penetrated the entire country. So, one can expect more and more people to look for a home on the internet. Thus real estate has become a hot topic for tech-based startups. Let’s see what are some of the best Real Estate startups in India and what they offer.
Quikr is a Bangalore-based Indian classified advertising platform founded by Pranay Chulet and Jiby Thomas in 2008. They provide platforms in various categories such as household goods, cars, mobile phones and also real estate. QuikrHomes is a merged property portal of Quikr with CommonFloor, launched in September 2015. It allows the users to search for residential, commercial and agricultural properties to either buy or rent out.
Founders: Amarendra Sahu, Smruti Parida, Deepak Dhar and Jitendra Jagadev
Founded: 2015
NestAway Homepage
NestAway is a Bangalore-based online platform founded by Amarendra Sahu, Smruti Parida, Deepak Dhar and Jitendra Jagadev in 2015. NestAway provides homeowners to list their properties for rent and home seekers to find furnished homes to choose from and book from. Their app provides furnished home bookings, services like home cleaning, electric and plumbing checks, and more.
NestAway allows its users to find, book, and move into a rental home of their choice across almost all Indian cities. They aim at providing better rental solutions with the help of design and technology. The company presently caters for all the major cities like Delhi, Gurgaon, Hyderabad, Pune, Mumbai, Bengaluru and more.
PropTiger is a Noida-based property portal founded in 2011 that allows users to buy property in India. The users leave their required property specifications online and PropTiger offers solutions with a wide range of services including identifying apartment options, organizing site visits, budget and affordability analysis, helping with unit selection and application filing with real estate developers to facilitate housing loans.
PropTiger is currently present in 12+ cities, including major cities like Noida, Gurgaon, Ahemdabad, Mumbai, Pune, Bangalore and Kolkata. They have over 30,000 properties listed on their website and have over 300 agents. PropTiger has sold over RS 15,000 crore worth of properties.
Colive
Founder: Sundari Rangarajan
Founded: 2016
Colive Homepage
Colive is a technology-powered network of branded serviced homes that offers rooms for high-end and well-located shared rooms that are a modern and sustainable lifestyle. The company was founded by Sundari Rangarajan in 2016 based in Bangalore. They provide an “all-in” solution including the layout of the house, services of cleaning, internet and TV, insurance, water, gas and electricity. Colive provides home rentals, shared living spaces, and PGs located near educational institutions and workplaces.
awfis
Founder: Amit Ramani
Founded: 2015
Awfis Homepage
awfis is a Delhi-based provider of managed coworking spaces founded by Amit Ramani in 2015. It allows users to browse for spaces based on the type of space, city, locality and capacity. On awfis’ platform, most of the facilities are on the managed aggregation model. The owner gives the property to the company at no upfront cost and takes a higher share of the revenue.
The users on awfis can book work desks, private cabinets, business centres, and meeting rooms and book them online. They provide a platform where its community members can regularly interact, network, and share ideas at events and seminars. It connects the members with service providers in the field of accounting, legal, recruitment, payments, web services and other services as well. To support its community members, awfis has partnered with Incubators/Accelerators, Angel Networks, VC Funds and Startup Mentors.
Ghar360
Founders: Ajesh Joy and Sanju Thomas
Founded: 2012
Ghar360 Homepage
Ghar360 is a Bangalore-based startup founded by Ajesh Joy and Sanju Thomas in 2012 it is a cloud-based 3D augmented reality platform that lets its users experience a virtual walk through the house with the digital platform even before it is constricted.
Ghar360 has developed a unique idea to reinvent the interior shopping experience by digitizing the floor plan into an interactive walkable space which is constructed to make customers an idea of the reality of the living space before purchasing it. The startup has raised total funding of $20k from TLabs.
ZoloStays
Founder: Akhil Sikri
Founded: 2015
ZoloStays Homepage
ZoloStays is a Bangalore-based provider of branded accommodations founded by Akhil Sikri in 2015. The startup offers PGs, serviced apartments and independent flats. They also provide amenities like TV, Wi-fi, fridge, washing machine, food, RO water facility, power backup and more.
ZoloStays associates with owners and offers the properties as managed accommodations. PG owners who manage their own properties can also affiliate with ZoloStays and accept non-Zolo tenants. The company has raised total funding of up to $100 million and earned revenue by charging a commission on the monthly rent.
NoBroker
Founders: Saurabh Garg, Amit Kumar Agarwal and Akhil Gupta
Founded: 2014
NoBroker Homepage
NoBroker is a Bangalore-based real estate search platform founded by Saurabh Garg, Amit Kumar Agarwal and Akhil Gupta in 2014. NoBroker eliminates brokers while connecting flat owners and landlords with tenants. It is a C2C model of property portal that uses advanced technologies like Machine Learning algorithms and Artificial Intelligence to sort, select and list properties better by gathering data and extracting listing information from images of ‘to-let’ signs.
Nobroker has now forayed into a brokerage-free buy and-sell properties as well and the company also verifies each listing to make sure they are owners and not middlemen maintaining the authenticity of the platform.
StayAbode
Founders: Viral Chhajer and Devanshish Dalmiya
Founded: 2016
StayAbode Homepage
StayAbode is a Bangalore-based startup founded by Christ University alumni Viral Chhajer and Devanshish Dalmiya in 2016 that builds coliving spaces for the rental residential real estate market. In 2020, it was acquired by NestAway for an undisclosed amount. They thrive at providing a hassle-free abode to millennials looking for coliving spaces using the platform of technology as a source to offer small private spaces to its users that are elegant and fully furnished.
They also provide their users with a safe environment and cover utilities. They provide fully furnished rooms and amenities like wi-fi, water, electricity, maintenance, parking and DTH. StayAbode takes up entire building space on long-term leases and then re-works the interiors to convert it to a co-living space and then sub-rent it to their customers.
Square Yards
Founders: Tanuj Shori and Kanika Gupta
Founded: 2013
Square Yards Homepage
Square Yards is a Delhi-based online real estate advisory and brokerage services firm founded in 2013 by Tanuj Shori and Kanika Gupta – an alumnus of Indian Institute of Management. The company has a field employee base of about 500 across five countries and is active in 15 cities in India. On the platform, each client is assigned a unique relationship manager who handholds the clients throughout the asset ownership – similar to a private banking model.
It is currently located in ten countries and 31 cities and has more than 1000 employees. Square Yards has been valued at more than $288 million as of 2019 and has also banked the ‘Real-Estate Marketing Company of the year by Accommodation Times and ‘Startup of the year’ by Silicon India.
Grexter Living
Founders: Pratul Gupta and Nikhil Dosi
Founded: 2016
Grexter Living Homepage
Grexter Living is a coliving space startup founded by Pratul Gupta and Nikhil Dosi. Grexter Living offers functional and built-to-suit urban studio rooms that provide all the necessary amenities and, at the same time, are aesthetically appealing. Catering primarily to salaried employees, fresh graduates, and techies in the age group of 18-30 years, the spaces they provide consist of a large common kitchen with another huge designated area that has lounges, gaming consoles, and home theatres.
CoHo
Founder: Uday Lakkar
Founded: 2015
CoHo Homepage
CoHo is one of the country’s first coliving spaces was founded in 2015. It offers fully furnished accommodation on a sharing and individual basis with amenities such as hot food, wifi, laundry services, and 24/7 security, along with access to common spaces such as lounges, games and reading rooms and special events such as poker nights.All this without any security deposit, brokerage or furnishing costs.
CoHo raised funds from veterans like Sachin Bhatia (Co-founder, MakeMyTrip and TrulyMadly), Rajesh Sawhney (Co-Founder, GSF and InnerChef), Mahesh Parasuraman (Ex-MD, Carlyle PE), Dheeraj Jain (Partner, UK based Hedge fund), amongst others.
Conclusion
Real estate is one of the biggest industries in the world. The Indian real estate industry is expected to reach a US$1 trillion market by 2030. These startups are prominent contributors to the growing industry of real estate. They are making real estate easy to access and making it more affordable for a normal person to buy or rent a property.
FAQs
What are the top real estate startups in India?
QuikrHomes
NestAway
PropTiger
Colive
Awfis
Ghar360
ZoloStays
NoBroker
Grexter Living
Square Yards
CoHo
StayAbode
Is real estate a good business?
Yes, the scope for demand makes it a profitable business. The real estate market size will become USD 1 trillion by 2030, accounting for 18-20% of India’s GDP.
Bangalore has gradually evolved from being the Garden City to the Silicon Valley of India. Being the centre of the country’s high-tech industry, it is on the verge of development. Coworking Spaces/Shared Office spaces are something that evolved with the need of the hour. It is an arrangement of sharing office spaces more productively and rationally. It not only saves costs but also provides convenience in terms of infrastructure and additional amenities. Find the list of top Coworking Spaces in Bangalore along with their pricing plans and additional facilities. The shared office space in Bangalore can have a significant impact on your business.
The city of Bangalore is widespread in varied coworking spaces with various facilities and work cultures. An attempt is made here to explore some of the coworking spaces in the city with a touch of detail and an overview of the same.
Top 30 Coworking Office Spaces / Shared Office Spaces in Bangalore
WeWork offices have a universal atmosphere. It is one of the best coworking spaces from the list of best coworking spaces in Bangalore. Whether you’re an established enterprise or a premature startup, your office space will drive your business forward. The choice of the right office space is essentially based on the requirements and cost of the concern. WeWork offers varied office spaces for rent to shared workspace in a communal atmosphere. It provides private offices, office suites, desks, meetings and discussion rooms and also sets up a headquarters. Some of the enterprise members include Spotify, HSBC, Pinterest, Deloitte.
WeWork – Pricing
The price structure of WeWork ranges invariably depending on the location, business requirements and the number of people. It can range from Rs. 5000 – Rs. 25000/month. For an in-depth view of pricing packages, their official site can be visited.
WeWork – Features
High-speed internet facility.
Full-fledged kitchen.
Security and Maintenance.
Streamlined billing process.
Events & conferences.
On-site support.
Flexible membership agreements.
Members’ network.
And many more. There are also add on facilities based on the location.
WeWork is spread across various locations in Bangalore, which includes – Bellandur, Koramangala, Marathahalli, Bannerghatta, Hebbal, Embassy golf links, Old Madras Road, etc.
BHIVE Workspace
BHIVE Coworking space in Bangalore
BHIVE Workspace is one of the top coworking spaces in Bangalore and it offers options not only for coworking but also helps in setting up one’s own office. It is spread across hundreds of thousands of square feet of commercial space which are offered in varied forms of office space such as customized furnished office, single desk, coworking space and a bare shell building. The main feature that sets it apart from various other coworking spaces is that it is budget-friendly i.e. one can enjoy the amenities and services of BHIVE based on their budget without much of a hitch. It positions itself as a zero brokerage office leasing platform.
BHIVE – Pricing
Facility
Range (In Rs.)
Shared Desk
5000 – 10000/month
Day pass
350 – 700/day
Meeting rooms
400 – 2000/hour
Coworking
4000 – 10000/Seat/Month
Furnished and customized office spaces
Based on sq. ft.
The prices are subject to vary based on the locations, amenities and taxation. To get a better quotation, it is worthwhile to contact the coworking office and get more information on the same.
BHIVE – Features
High-speed internet facility & WiFi-enabled premises.
Food & Beverages.
Security and Maintenance.
Meeting & conference rooms.
Full-fledged kitchen.
And many more. There are some special benefits for BHIVE members as well.
BHIVE is operational in various commerciallocations in Bangalore such as HSR Layout, Koramangala, Indiranagar, Residency Road, MG Road, etc.
Bangalore being a thriving market of entrepreneurial activity, the coworking spaces of 91SpringBoard are designed as fully furnished shared office space, where you can develop a network with people from varied backgrounds and experiences. It is the best coworking space in Bangalore and also conducts various events that help members in building networks. It not only provides coworking spaces, but also HR, Design and Accounting services, legal advice, digital marketing advice, etc.
It is expanded to various locationsacross Bangalore including Koramangala, MG Road, Indiranagar, etc.
91SpringBoard – Pricing
The pricing differs based on the location and services required. The prices may vary from Rs. 500/day – Rs. 12300/month. Detailed information can be obtained from their official site and contacted accordingly.
Bangalore Alpha labs are dynamic. The ambience of the space boosts up an air of inspiration in the minds of people. It aims to create a vibrant community of entrepreneurs, freelancers and startups. Their startup packages aim to help with branding and building the company. Privacy being the main concern of many, it also has amenities for private office cabins and conference rooms that can be rented on an hourly basis. The chances to work and collaborate with many others is high. These labs are located near Koramangala and JP Nagar in Bangalore.
Bangalore Alpha Lab – Pricing
Plans
Price
Private office
Rs. 20,000/month
Guest Access
Rs. 1000/month (5days)
Virtual membership
Rs. 1000/month
Full membership
Rs. 4000/month
Hot Desk / Open plan
Rs. 250/day
The prices are subject to changes based on location and any external or internal factors.
Bangalore Alpha Lab – Features
High-speed internet facility.
Flexible seating.
Security and Maintenance.
Mail handling.
Lounge/Chill-out area.
Refreshments & storage facility.
Various Membership benefits.
Bangalore Coworking Hub
This coworking space in Bangalore provides varied amenities that cater to the needs of its clients. It aims in providing collaboration and networking platforms to its diverse clients which would include consultants, freelancers, startups, and emerging businesses. The striking balance between work and freedom to explore new ideas is achieved by this coworking space. It is located near HAL in Bangalore.
Bangalore Coworking Hub – Pricing
Plans
Price
Night membership
Based on availability
Part time/6-weekdays
Rs. 1500/month
Conference rooms
Usage basis
Full membership/monthly pass
Rs. 3800/month
These prices may vary based on availability and usage basis. Some services may differ based on the type of membership availed.
Bangalore Coworking Hub – Features
High-speed internet facility.
Employee parking space.
Security and Maintenance.
Mail handling.
Pantry facilities.
Workstation furniture.
Virtual office space.
Coworks
Coworks – Coworking space in Bangalore
Coworks provides a completely customizable office space that suits the clients’ needs. One can access diverse facilities from private studios, flexible desks to custom-built office spaces. To seek an office address in the heart of the city with access to business hubs, airports, their six centres are strategically located across the city which includes Indiranagar, Yehlanka, Eco World, Koramangala, Residency Road and Whitefield.
Coworks – Pricing
Coworks charge a flat fee based on features that allow you to budget and scale. No per member pricing. No complicated wifi or hardware contracts. No hidden fees. Just pay for the tools you need.
Innov8 offers exquisite and beautifully crafted workspaces, where any individual or a team can connect to many, collaborate, and create an extensive community. It hosts people from diverse backgrounds such as entrepreneurs, freelancers, employees and startups enthusiasts.
Innov8 is located in Koramangala which is a centre for many budding startup enthusiasts, young minds and an extensive network of relaxing zones nearby.
Innov8 – Pricing
Requirement
Starting price/person
Fixed Desk
Rs. 10499/month
Meeting room
Rs. 800/hour
Hot desk
Rs. 5999/month
Private cabin
Rs. 16599/month
Multi-utility space
Rs. 2000/hour
Flexi pass
Rs. 3999/month
Innov8 – Features
Meeting rooms.
Recreational zone.
Lounge area.
Cafe.
Pleasing ambience.
Community events.
Social Offline
This is another Best Coworking space in Bangalore. It is termed as a perfect blend of office and cafe. It combines play and works together. When you’re bored or just want a chilling and relaxing time, you can head towards the gaming area which is equipped with Playstations and many more. In addition to that, there are meeting rooms, high-speed internet, vast open play-work area with comfort enabled couches and chairs. This place also has an exquisite bar that offers a variety of delicacies and beverages.
This is a perfect place for anyone who wants to socialize and collaborate. It is located near Church Street in Bangalore.
Socila Offline – Pricing
Membership fees are around Rs. 5000/month/person. Details regarding private office and meeting rooms can be directly enquired based on availability and usage.
Awfis has become an integral part of the exciting journey of developing an innovative atmosphere for entrepreneurs by providing affordable and collaborative workspaces. They believe in the concept that startups need much more than just spaces, thereby innovating the concept of ‘Pro working’, which focuses on People, Proximity and Performance. They enable one to make just-in-time bookings for meeting rooms and work desks. One can enjoy a flexible and convenient work environment.
It is spread across various locations in the city, thereby providing the scope of doing business from a wide choice of prime locations in the city. It includes Indiranagar, Whitefield, MG Road, Outer Ring Road, Hosur, Adugodi, Residency Road and St. Marks Road.
Workshaala is like startup offices in Bangalore. It is a great place to experience productive workspaces with quality infrastructure and flexible office plans. It is committed to providing vibrant working spaces where ideas are born, nurtured, and transformed into a growing business. The core values that Workshaala abides by are quality of services, flexibility and ease of customized options and transparency in its working.
Workshaala – Pricing
The price ranges from Rs. 400/day – Rs. 18000/month based on the location and requirements.
It is spread across various locationsin Bangalore. This includes – Banaswadi, Koramangala, HSR NR Tower, HSR Sector 4 and Sector 3.
iKeva
iKeva offers a diverse community that offers benefits to businesses and entrepreneurs. It has been significant in establishing the concept of serviced offices and coworking places. They offer private cabins, meeting rooms, coworking spaces and virtual offices. It is located near Marathahalli and MG Road in Bangalore.
iKeva – Coworking space in Bangalore
iKeva – Pricing
The pricing varies from Rs.2500/month – Rs.9000/month based on services required.
iKeva – Features
Wi-fi access.
Power backup.
IT support.
Plug and play office space solutions.
Regus
Regus office space has a range of benefits that are designed to enable a business to flourish. The Regus community events, office suites along exclusive discounts from top brands in the Regus Marketplace is something that can be taken advantage of. You can also get access to a communal kitchen and chill-out zones. These offices are situated in the prime locations of the city which includes areas near Hosur Road, UB City, World trade centre, Embassy golf links business park, Brigade Road, and many more to cover.
Regus – Pricing
The pricesare based on location and the type of space needed like coworking, office space, virtual office, meeting room, membership, etc.
Kafnu is designed to encourage community interaction with an event area that holds private networking events, workshops, sessions with the speaker, etc. There are meeting areas with industrial and biophilic design, a morsel that is inspired by regional cuisines and a private office for personal and secure business conduct with sound insulations. All in all, it has a pleasing ambience that sparks enthusiasm and creativity. It is locatednear the Residency Road in Bangalore.
Kafnu – Pricing
The pricing varies depending on the desk and office that you want to choose, the number of people and time duration.
Kafnu – Features
Community network & events.
Flexible dining options.
Tech support.
Opportunity to host corporate meets and events.
Pleasant atmosphere.
Evoma
Evoma provides a combination of business incubation and collaborative office spaces. The atmosphere of this place suits the business doings. It offers video conference suites, a coffee cum bar shop, a restaurant, a collaborative workspace, and a health club that is sophisticatedly structured.
Evoma – Office for rent in Bangalore
Evoma – Pricing
The prices vary from Rs. 1500 – Rs. 4000/month based on need and requirement. It is located in four major areas in Bangalore i.e. Marathahalli, KR Puram, EPIP Zone Whitefield and Borewell Road Whitefield.
Investopad believes in allowing emerging leaders and entrepreneurs to develop their skills and access to business opportunities. Workspaces designed by Investopad caters for collaboration and offers a congenial work environment. It is the most flexible and stable place that one can experience in the city. It is located in the prime location of the city i.e. Koramangala.
Investopad – Pricing
Plan
Suitability
Price Range
Flexible
Suits small teams (Basically find an empty desk and start working)
Rs. 6000 for 30 days
Dedicated
Perfect for large teams (Permanent seats)
Rs. 8000 for 30 days
Commuter
Suited for individuals, freelancers, and digital nomads
Commune Coworks, is the place where you can draw designs, take calls, have brainstorming sessions with the support of tech and projectors. Commune accepts workers of varied genres, it has a well-designed dedicated space for conducting workshops, a shaded terrace, and a studio that helps stimulate a person’s mind by inducing productivity and creativity. All in one it has a pleasant working environment. Commune is located in the startup zone of the city i.e. Koramangala.
Commune Coworks – Pricing
Plan
Price
Individual hot desks
Rs. 7999/month
Dedicated desks
Rs. 11999/month
Private cabin
Rs. 12999/month
Day pass
Rs. 500/day
Commune Coworks – Features
Fully Equipped kitchen.
High-speed internet.
Training room.
Event spaces.
Security and maintenance.
Community membership.
Personalized lockers.
NUMA Bangalore
NUMA is an all in one package for any budding entrepreneur. It not only provides dedicated office spaces, meeting rooms, conference rooms, event spaces, private cabins but also spreads its services to startup acceleration and innovation.
Startup Huts understands the need for dynamism and thus provides two options within the coworking space. You can either choose a flexible space where you can share your space with others as well or you can go for a dedicated coworking space, which will exclusively be for you and your team. It offers a satisfied and full package to the budding entrepreneurs i.e. from registration of the company to mentoring and tech support. The conference rooms, lounges, dedicated cabin space, cabin walls, and desks are strategically placed to provide an effective and productive work environment. All in all, it provides a perfect ecosystem to work in collaboration.
It is locatednear Residency Road and HSR Layout in Bangalore.
Cowork Cafe is associated with providing the most relevant and valuable services to its members. If you are a person who likes working in a peaceful and calm environment, then this place would suit you the most. The inspiring and ready to use workspaces has everything that you need to grow your venture. These workspaces are deemed to be fun workspaces that are your home away from home. They not only provide a collaborative workspace but are also into Incubation (Help with IT, HR, Accounting, Operations, Sales & Marketing needs). It islocated near Sarjapur Road in Bangalore.
Cowork Cafe – Pricing
The price for a Resident Coworker is Rs. 5000/month and for Guest Coworker is Rs. 300/day.
Cowork Cafe – Features
Lockers and storage space.
Laptops on rentals.
3G/4G dongles on rental.
Meeting rooms.
Pantry.
Power Backup.
Smartworks
Smartworks are aware of the present workforce demands and their requirements for an office atmosphere, thus they are equipped with the latest technology to provide a hassle-free environment to its clients. The infrastructure and the design of Smartworks offices infuse productivity and a better work-life balance. Gaming and chill-out zones are also set up to calm one’s mind off the loaded work and have a peaceful time with oneself along with the like-minded people around. It is located near the Outer Ring Road, Miller Road, and Ashok Nagar in the city.
Smartworks – Pricing
The prices are personalized based on the customization and services availed. It is available on request.
Jaaga is India’s oldest coworking community. It has an open and green space, so if you hate Cramped spaces, then this might be the perfect place for you. It has a collaborative community of freelancers & entrepreneurs. It is located near Malleshwaram, Bangalore.
Jagga – Pricing
The prices vary from Rs. 250/day to Rs. 20000/month. They provide Gold, Silver, and Friend membership.
Stack-based collaboration and community engagement.
Internal mock pitch sessions.
Workflo by OYO
Workflo is a fantastic workspace powered by OYO. It exudes young and positive vibes to aid you to build a company that you dream of. Workflo offers shared working spaces that are tuned to meet the day-to-day business requirements. It is designed with dedicated desks along with a private workstation or private cabin. Furthermore, Workflo also offers facilities of meeting rooms, conference rooms that are available for rent. The model from Workflo that supports your business, trendy designs, smart and viable leasing options, and affordable prices make it a primary choice for the brands and businesses of today.
Workflo by OYO – Coworking space in Bangalore
Workflo has two offices in Bangalore – Umiya Emporium, Koramangala and KR Puram, ORR.
Workflo by OYO – Pricing
Workflo by OYO is smartly priced to suit your business needs. Besides, with the Early bird offer via the latest Flexi all pass, you can opt for any centres across India at just Rs. 2999/month and Rs. 7999 for 3 months.
Workflo by OYO – Features
Centralized AC.
High-speed internet.
24×7 tea and coffee.
Meeting rooms.
Dedicated cafeteria.
Easy accessibility to printers and copiers.
Convenient car parking facilities.
Along with Bangalore, OYO’s coworking spaces are also available in multiple locations including mega-corporate hubs like Hyderabad, Gurgaon, Chennai and Pune.
Novel Office
Get what you need for your office to grow amidst the bustle of Bangalore. Novel Office is distinguished as one of the most popular office space providers in the city. It offers a diverse range of office spaces that starts from 100 sq. ft. to 10,000 sq. ft. for offices of all sizes. Therefore, with the Novel Office, you can get the kind of space that is most suited for your business. Furthermore, it also allows you to rent smart coworking spaces and business centres if you need not rent office space.
Novel offices are located at multiple locations in and around Bangalore that includes Bellandur market, Electronic City market, HSR layout market, Indiranagar market, J.P Nagar market, Jayanagar market, Koramangala market, and Whitefield market.
Novel Office – Pricing
Novel office offers desks that start from Rs. 9000/month. You can also opt for a diverse range of spaces available for hire. The rate for booking meeting rooms starts from Rs. 3500/day. For more information regarding booking and the availability of spaces, check out their official website.
Novel Office – Features
Ready to use spaces for starting immediately.
Fully furnished workspaces.
Corporate ambience.
Flexible spaces.
Cost-effective.
24×7 working environment.
Quest Offices
Quest offices are among the most reliable workspaces and office service providers operating across the country. The growing world of business demands workspaces that are tailored to their needs, and Quest offices are equipped to fulfil their changing needs and boost their businesses. Whether one needs a coworking space, business centre, meeting rooms, or infrastructure that supports virtual offices, Quest offices are the only destination to help you get them all. It is one of the best choices for large and small businesses, individuals, entrepreneurs, and remote teams.
Quest offices is located at Raheja Towers at Mahatma Gandhi Road along with numerous other offices across the country.
Quest Offices – Pricing
Requirement
Price
Office Desk
Rs. 9000/month, Rs. 100/hour & Rs. 500/day
Private Cabins
Rs. 30000/month
Meeting Rooms
Rs. 1000/hour & Rs. 6500/day
Training Rooms
Rs. 3000/hour & Rs. 20000/day
For more information regarding Quest Offices and their package, check out their official website.
Quest Offices – Features
World-class infrastructure.
Fast and powerful internet connectivity.
Smart payment options.
Multiple offices at different locations.
Well-knit with the city.
Integrated cafeteria.
Funzone.
15+ years of experience.
Spacelance
Looking for coworking spaces and offices in Bangalore? Then, don’t worry because Spacelance Office Solutions brings the best spaces for hire that will let a company get the optimum facilities. Whether one needs a coworking space or plans to set up a virtual office, require meeting rooms, conference rooms, or other workspaces to empower varying business needs, Spacelance is the ultimate destination. Furthermore, Spacelance Office Solutions also offers virtual addresses, equipped with virtual landline numbers, numbers for faxing, live receptionist support with little investment.
Spacelance boasts of multiple offices in and around the country among which the offices at HSR Layout and Indiranagar are famous in Bangalore.
Spacelance – Pricing
Packages
Price
Basic Package
Rs. 1300/month & Rs. 13000 annually
Standard Package
Rs. 1500/month & Rs. 15000 annually
Ultimate Package
Rs. 2000/month & Rs. 20000 annually
In case you are curious to know more about Spacelance, its facilities and the prices in detail, then it’s best to dive into their website.
Spacelance – Features
Professional business address.
Excellent facilities for handling and forwarding mails.
Local landline number.
Live receptionist.
Fast and hassle-free company registration.
Access to meeting rooms.
Workafella
Workafella offers unique and amazing workspaces and coworking units in different cities around the country and is lauded for each of its spaces. The Bangalore city office of Workafella is located at Infantry Road. This Workafella office offers office terrace gardens, cafeterias, and excellent office spaces to work without at one’s own pace. Starting a day full of caffeine, stopping at the social hub for a quick conversation, and working at peace are some of the unique activities you can repeat days on end at Workafella.
Workafella – Pricing
Workafella offers offices and coworking spaces at affordable prices that suit the diverse business needs of today. Though the price mostly varies on the centres and their locations, it generally ranges from Rs. 550/day/person to Rs. 10000 -Rs.13000/month/seat.
Workafella – Features
Smart and flexible plans for all offices.
All-inclusive pricing packages.
A variety of office spaces to choose from.
24×7 accessibility and air conditioning facilities.
Security around the clock.
Complimentary meeting rooms and other amenities.
Easyoffices
Easyoffices is a brand reputed for its coworking and office spaces in multiple locations that include Bangalore, Chennai, Mumbai, Kolkata, Hyderabad, Pune, Gurgaon and more, around the country. With easy-to-use offices equipped with smart facilities and flexible payment options for all kinds of businesses, Easyoffices is the first choice regardless of the size and nature of businesses.
Easyoffices offers a range of smart workspaces in Bangalore at multiple locations including Dickenson Road, Whitefield, Bommanahalli, Domlur, Jayanagar, Malleshwaram, Nagawara, etc.
Easyoffices – Pricing
The pricing of EasyOffices varies depending on the location and business needs. The price card offers rates that start from Rs. 7500/month to Rs. 18500/month. For more information, you can check out their official website.
Easyoffices – Features
Fully furnished workspaces.
Flexible office spaces that are tailor-made for businesses.
24×7 availability of rooms.
Flexible hiring options.
Excellent business lounges and areas for collaborations.
Manned receptions to be accessed around the clock.
Availability of cabins and conference rooms for varying requirements.
CorporatEdge
CorporatEdge is one of the leading office service providers that offers smart and well-equipped office spaces that are suited for the changing office needs of today. CorporatEdge is distinguished for premium office spaces at convenient locations in and around Bangalore and multiple locations across the country. Along with providing the brands and businesses with smart workspaces, CorporatEdge also strives to provide them with immensely elegant spaces that add to their brand value. CorporatEdge enjoys 5 centres that are in operation in 5 different locations, 3 different cities, and PAN India locations and boasts of an ever-growing clientele.
CorporatEdge – Coworking space in Bangalore
CorporatEdge offers a range of options to choose from when it comes to opting for service offices, meeting rooms, virtual offices, and more. The main office of CorporatEdge is located at ITC Green in Bangalore.
CorporatEdge – Pricing
Requirement
Starting Price
Desk Booking
Rs. 12000/month
Private Cabins
Rs. 28000/month
Meeting Rooms
Rs. 4000/day
You just need to choose the duration and the capacity you would need for your business. However, it is always wise to check out their official website for more information and pricing details.
CorporatEdge – Features
High-speed internet to transfer data without hassles.
Convenient cafeteria and kitchen area.
Prime locations around the country.
Transparent pricing and packages.
Smartphone booths at multiple places.
Secured offices that enable keyless entries.
24×7 access to photocopying and printing machines.
24×7 building access.
Attached lounge for guests.
Cowrks
Cowrks is known for vibrant office spaces that are set up at strategic locations for ease of communication. It believes in building offices that are elegant and elevate the status of the businesses operating from them. Besides, it also ensures that the employees and other business professionals feel at home even while working. Furthermore, Cowrks also boasts state-of-the-art technology to improve the user experience along with the 5-star hospitality that it extends.
The coworking spaces from Cowrks would gear up businesses and boost their productivity and collaboration. Regardless of whether you are looking for an office space for a day or continue working for years on end, Cowrks has got you covered. Yelahanka, New Indiranagar, Ecoworld, Koramangala, Whitefield and Residency Road are some of the office locations of Cowrks in Bengaluru. The other states where Cowrks have their offices include Delhi, Chennai, Mumbai and Hyderabad.
Cowrks – Pricing
CoWrks charges a membership fee that depends on the number of desks and the total duration that you would be needing them for. Also, the prices are based on the location of your business and the facilities. A desk can cost anywhere between Rs. 3000 to Rs.10000/month. For more detailed information and pricing packages, you can check out their website.
Cowrks – Features
Fully furnished shared offices of varying sizes and amenities.
24×7 entry inside the office rooms between Monday to Saturday.
Flexible charges for a diverse range of options for payments.
Fast internet connectivity around the clock.
Special lounge and lounge plus packages.
A wide range of contracts.
IndiQube
One of the leading working space providers operating in India, IndiQube aims to bring the best workspaces to meet the demands of the new-age businesses. Whether it is for an enterprise or a startup, offshore centres or solopreneurs IndiQube strives to provide the best experience for each brand. Along with smart buildings that are powered by the latest technologies to boost the working experience, IndiQube also boasts various employee engagement programs.
IndiQube – Coworking space in Bangalore
IndiQube – Pricing
Requirement
Starting Price
Office Desk
Rs. 6499/month
Private Cabin
Rs. 42500/month
Event Spaces
Rs. 15000/day & above
However, prices may widely differ according to the size and function of workspaces. For more details, you can simply check out the official website of IndiQube.
IndiQube – Features
Smart digital workspaces are equipped with everything that a business needs.
This was our list of Coworking Spaces in Bangalore. If you are one among them, then connect with us at shubham@startuptalky.com to get featured in the list.
FAQs
What is a coworking space?
A coworking space is an office or a building where individuals or a group of individuals can come to work on their personal or professional projects. Individuals pay to the company which is providing the space.
Why do we need a coworking space?
Coworking space could be needed for the following reasons:
It provides small businesses or startups with a work space to get their work done.
It allows you to find potential business partners or investors in these places to build the business.
It is fairly cheaper for startups with a small team than a proper office space.
It provides amenities like foosball tables, billiards, gaming consoles, cafeterias, wifi-enabaled premises, etc. on one platform.
It provides a multitude of leasing plans like pay on a monthly basis, daily basis, or on an hourly basis.
Which are the best coworking spaces in Bangalore?
Here’s the list of the best coworking spaces in Bangalore.
The concept of co-working space dates back to 1995. But it wouldn’t be wrong to say that it has gained popularity in the last decade. To make the co-working industry more sophisticated, Ritesh Malik founded Innov8 in 2016.
Innov8 is a premium coworking space provider in the country. In recent times, it has emerged as a leading brand in the coworking space standing on a strong footing in the Indian startup market space. It’s not widely known but India is the 3rd biggest startup hub in the world! This germinates the apparent need for relevant workspace in the country.
Innov8 was launched with the vision to provide the best infrastructure in town & supremely innovative design facilities to the members working in the workspace. This will lead them to work to their fullest potential while leading an equally balanced work-life with the finest and top-notch office spaces.
Website
All in all, Innov8 provides cool and sophisticated co-working spaces to facilitate the process for the startup ecosystem and the merging freelancer’s culture in the country. Since its inception, it is based on the core value of building world-class products at a superiorly value-conscious price with top-notch service. This is now the fundamental strength of this venture. The company, by and large, focuses on scaling its business model to deeply assist in integrating more verticals under the shared economy space in the country.
“At this time, Innov8 coworking space is helping startups and freelancers by providing them an ergonomically designed workspace that has exclusively been curated for better work-life.”, says the founder, Ritesh Malik.
Founders of Innov8 and team
The founder of Innov8 is Ritesh Malik. He is a doctor by profession and is a graduate of Dr. MGR Medical University in Tamil Nadu.
Ritesh Malik – Founder and CEO, Innov8 Coworking
Dr. Ritesh Malik is an Indian doctor, entrepreneur, and investor. He runs a virtual Startup Accelerator in India, currently investing in and mentoring 11 startups across various industries. He was the first investor & mentor of FIN ROBOTICS, which became the first Indian hardware product company to raise a Series A venture funding.
He did his MBBS from a rural medical college, Theni, and an internship from Ganga Ram Hospital in Delhi. His parents are doctors; his father is a pediatrician & mother is a gynecologist. They have a secondary healthcare hospital in Delhi called Radix Healthcare. He also studied for a short time at the London School of Economics and completed a semester at Harvard University.
How was Innov8 Started?
If you’re wondering how was Innov8 started, we have got you covered. All of it started while founder Ritesh was in medical school and he sort of developed a keen interest in the divine field of entrepreneurship. During his college days, Ritesh had successfully managed to attend a short Marketing Science 101 course at the prestigious London School of Economics during one of his summer breaks. That’s where he learned deeply about how Silicon Valley was booming and buzzing with startup ventures and sustainability modules every day.
It is also during this time that he foundedGuerilla Ventures in 2013 which is an angel fund. This venture has invested in more than 45 startups across various sectors including healthcare, information technology, innovation, SaaS, etc. After being a successful investor for quite a few years, Innov8 owner Ritesh Malik again felt the entrepreneurial itch! And that’s how he went on to start the startup in Delhi in January 2016.
Innov8 CEO and founder Ritesh says: “The office space was in the heart of Connaught Place in Delhi, and it was fully sold out within 30 days.”
Soon after Ritesh launched Innov8, the venture was picked up by Silicon Valley incubator Y Combinator for the 2016 batch.
“We were told we should do large centers because with small centers we will not be able to become a $1 billion revenue company. At YC, we learned that to be huge, we need to have large campuses,” said Ritesh Malik, owner of Innov8.
Followed by this event, the startup went on to set up a 500-seater campus in the IT hub of the country, Bengaluru, which also sold out in just two months. As of today, from typically 25,000-27,000 square feet co-working spaces, the company is gone further deep in the game and is now setting up 50,000 square feet spaces around the country.
Innov8 Logo
Seeing this level of the upping game, it wouldn’t come as any surprise to us that Innov8 is now aiming to do one lakh square feet workspaces soon. They have been successful in creating a coworking space in Hyderabad for about 80,000 square feet. This was the time when established players like WeWork had already established its space in the city.
The startup has immense competition in the coworking market but the rising demand for coworking spaces always exceeds the supply of these spaces. Hence this is where they step in and conquer. Innov8 Coworking was acquired by OYO for $30 million on Mar 15, 2019.
Innov8 – Business Model and Revenue Model
Innov8 typically operates on an asset-light business model which means that it leases the working spaces for up to 10 years.
“Our focus is on doing larger campuses because we feel that if we do larger campuses in a particular area, the economies of scale will kick in and we end up making more money out of it, as well as the community building factor plays along with it,” added Ritesh Mallik, the founder of Innov8.
Innov8 – Competitors
Though the competition is huge and cut-throat in the coworking space market, the company’s biggest competitors are the ventures called Awfis and 91springboard.
The funding amount of Innov8 lies at $4 million. In 2018, it raised its pre-Series A round of funding for $4 million led by the Credence Family Office. Also, the existing investors participated in this funding round.
The company is backed by high profile angel investors including Vijay Shekhar Sharma, Founder, Paytm; Rajan Anandan, Head, Google India; Anand Chandrasekaran, Global Director of Platform and Product Partnerships, Facebook; and Girish Mathrubootham, Founder and CEO of Freshworks, among others.
Innov8 Coworking was acquired by OYO for $30 million on Mar 15, 2019.
Innov8 – Growth
Operates in more than 13 cities across India
Has an overall capacity of 6,000 seats
Has a wide network of more than 190 clients
Its clients include RBL Bank, food delivery major Swiggy and Vice Media to only name a few
Its centers are built with facilities like nap rooms, rooftops, recreation facilities, refreshments, and printing services
Has approximately 95% occupancy across all centers
Innov8 – Future Plans
“We have almost 95% occupancy across all our centers, which is one of the foremost markers of our success. With the domain expertise our investors bring on-board, we look forward to leveraging their support, as we build a leading platform offering collaborative space for growth and innovation in India. By the end of this year, we will have 24,000 seats, with 30-32 centers” concluded Ritesh Malik.
Lakshya Singh
