315Work Avenue to Expand 2M Sq. Ft. Coworking Space in India
315Work Avenue to expand 2M sq. ft. workspace with a Rs 400 Cr investment, targeting 10-12 cities and 5M sq. ft. by year-end amid rising coworking demand.
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Responding to the growing demand for flexible office spaces, 315Work Avenue has announced an expansion plan that includes adding 2 million square feet of workspace over the next year. The initiative, backed by an estimated investment of Rs 400 crore, aims to strengthen the company’s foothold in existing markets while exploring opportunities in new cities.
Currently managing 3 million square feet of office space across 45 locations in Bengaluru, Chennai, Hyderabad, Mumbai, and Pune, the company serves approximately 60,000 seats. With the increasing shift towards coworking solutions among businesses, the company plans to expand its operations to 10-12 cities within the next two years, targeting 5 million square feet by the end of this year. In the past 12 months, the company has leased 1.25 million square feet of office space.
The company’s client portfolio includes well-known corporations such as BNY Mellon, Webasto, Tata Technologies, Tata Motors, Tata Power, Muthoot, Moengage, Teamlease, Operative, Urban Company, Wibmo, Aramex, TotalEnergies, Northland, Esper, Hafele, and AstraZeneca.
Manas Mehrotra, Founder of 315Work Avenue, stated that corporations across various industries are increasingly prioritizing flexible workspaces due to their ability to enhance productivity, promote collaboration, and optimize costs. He noted that the coworking sector is evolving into a key segment within commercial real estate, with multinational companies and large enterprises driving demand. The company’s recent lease agreements across multiple cities reflect its commitment to expanding workspace solutions across India.
Utilizing advanced technology and customized solutions, the company aims to deliver comprehensive services tailored to diverse business requirements. Mehrotra highlighted the importance of maintaining strong relationships with clients by providing high-value, adaptable workspace solutions. The company remains focused on maintaining growth, increasing revenue, and ensuring profitability while continuing its expansion efforts.
The coworking industry is expected to play a pivotal role in shaping India’s office market in the coming years. Analysts project that the segment could grow by over 20% annually, surpassing 100 million square feet by 2030, driven by an increasing number of businesses shifting towards flexible office arrangements.
India’s office space sector experienced a record-breaking year in 2024, with gross leasing volumes reaching 89 million square feet across the top eight cities. According to Cushman & Wakefield data, Bengaluru emerged as the leader, accounting for 29 per cent of the total leasing volume, equivalent to over 25 million square feet.
