Flexible workspace provider ‘The Executive Centre’ plans to expand its network in India in 2021.
Nidhi Marwah, Group Managing Director- South Asia, The Executive Centre said the company will investing over Rs 100 crore in capital expenditure in the year.
“We will be investing over Rs 100 crore as capex to set up five new co-working centers across Bengaluru, Gurugram, Chennai and Pune,” Marwah said.
Out of the five planned centres three have been opened since the start of 2021 and are operational. One more centre in Gurgaon will be operational by March and another will be open in Bangalore by end of February, 2021, she said. The Executive Centre currently has 33 centres in the country.
With the co-working segment growing rapidly in India she exuded confidence that the trend is likely to continue despite the short-term disruption caused by pandemic and the lockdown.
“We have already taken on lease nearly 2 lakh sq ft area of office space to start these facilities. These five centres, which have a capacity of around 2,300 desks, would become operational by March 2021,” Marwah added.
On the state of the co-working sector, she said that in the recent past, the industry has posted remarkable growth with increased foreign investments in India leading to infrastructural developments helping big multinational corporations to choose India as their office hub.
With last year being unprecedented in many ways, numerous industries and business operations incorporated agile strategies in their business continuity plans and introduced distinguished modes of working to enhance their workforce and make the best use of the new environment.
“We see growing number of corporates opting for flexible workspace facilities to expand their business and support the spoke-hub module. You can say adaptability was the only way to push the industry forward and The Executive Centre is always in support of their customer in whatever they need to do,” she said.
With over 135 centres across 14 countries, the company have an annual turnover in excess of $275 million.
“India alone as a market generated a revenue of $35 million during the last financial year (as of June 2020) and we expect the momentum to grow even more in the future,” she said. –IANS