“Company currently manages 2 mn sq ft space totalling around 40,000 seats in the country. Aims expansion through both organic and inorganic routes“
Leading flexible and new age coworking firm, 315Work Avenue, is mapping out ambitious expansion plans and aims to double its portfolio in the country in next 18 months. This growth is expected on the back of high demand for flexible spaces by corporates and the company is looking at organic and inorganic initiatives to double its seat capacity. 315Work Avenue currently manages 2 mn sq ft space totalling around 40,000 seats across 40 prime locations in Bengaluru, Chennai, Mumbai and Pune.
Aiming to replicate its successful model, 315Work Avenue is also in advanced discussions to spread its geographical footprint in the New Delhi & NCR and Hyderabad market, along with strengthening its presence in the current markets. The expansion into these cities is part of the company’s overall strategy to have about 10-12 cities in its portfolio over the next two years. While consolidating its presence in Bangalore, 315Work Avenue eyes exponential growth with plans to scale to over 50 centres in the city from the current presence of 30 centres. The company works with prestigious clients that include BNY Mellon, Tata Technologies, Webasto, Muthoot, Moengage, Vimeo, Teamlease, Operative, Urban Company, Wibmo, TotalEnergies, Northland, Esper, Hafele, AstraZeneca amongst others.
Commenting on expansion plans, Manas Mehrotra, Founder, 315Work Avenue said: “The coworking industry’s rise reflects a fundamental shift in how modern businesses approach their workspace needs which has evolved significantly in recent years. There are numerous benefits associated with shared spaces, which are drawing the attention of big and small enterprises alike. The demand has gained greater traction with corporates and MNCs continuing to make a beeline to coworking spaces that have emerged as strong centres of growth. As a result of this demand for coworking spaces, we get an ideal opportunity to expand our presence in the country. Our strategic expansion plans reflect our commitment to enhancing the overall work experience and nurturing a vibrant community where businesses thrive and ideas flourish.”
“We are also exploring opportunities to expand our reach by entering mall spaces and opening up shared offices to attract more clients, especially given the current trend towards hybrid work arrangements. Leveraging cutting-edge technology and innovative approaches, 315Work Avenue prioritizes offering futuristic solutions that cater to our esteemed client’s unique needs through end-to-end services. These advantages have lent great value to the coworking industry over traditional offices. In the last 2 years, we have leased spaces to several corporate and large enterprise customers, demonstrating our ability to meet the specific needs of businesses. Our aim now is to keep expanding our portfolio, grow revenue and remain profitable,” added Manas.
Coworking sector’s impact is poised to amplify in the future, driven by the fundamental transformation work dynamics have undergone which is unlikely to revert. In all, the overall climate of positivity is creating new business opportunities in the sector.
“At 315Work Avenue, we place a strong emphasis on building and nurturing relationships and understand the importance of engaging with our existing customer base to ensure their continued satisfaction and loyalty. We always strive to be the go-to ‘partner of choice’ for customers by offering best-in-class customer experience, value for money and tailor-made solutions which is also our core value” concludes Manas.