315Work Avenue's Rs 400 Crore Expansion Amidst Flex Space Boom

Bengaluru-based 315Work Avenue plans to invest Rs 400 crore to expand its flexible workspace offerings by 20 lakh sq ft next fiscal. The company aims to enhance its market presence and enter new cities in response to the growing demand for flex workspaces from corporates seeking operational efficiency.

Bengaluru's 315Work Avenue is set to allocate Rs 400 crore in the coming fiscal year to broaden its reach in the flex workspace sector, reflecting surging demand for adaptable work environments. The firm announced its intention to introduce 20 lakh sq ft of workspace within a year.

Currently overseeing 30 lakh sq ft across major Indian cities like Chennai, Hyderabad, Mumbai, and Pune, 315Work Avenue aims to both bolster its presence in existing locations and branch out into new markets. Founder Manas Mehrotra emphasizes the growing corporate reliance on flexible workspaces for enhancing productivity and cost efficiency.

The Indian office market is thriving, with last year's gross leasing in seven major cities hitting unprecedented levels, highlighting the increasing appetite for versatile office solutions.

(With inputs from agencies.)