315Work Avenue, a coworking firm, on Tuesday announced its expansion plans and said that it aims to double its portfolio in the country in the next 18 months. This growth, it added, 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 million sqft space totalling around 40,000 seats across 40 prime locations in Bengaluru, Chennai, Mumbai and Pune.
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,” it said in a statement. While consolidating its presence in Bengaluru, 315Work Avenue has plans to scale to over 50 centres in the city from the current presence of 30 centres. The company works with clients that include BNY Mellon, Tata Technologies, Webasto, Muthoot, Moengage, Vimeo, Teamlease, Operative, Urban Company, Wibmo, TotalEnergies, Northland, Esper, Hafele, AstraZeneca, amongst others.
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.”
He further added that the company is also exploring opportunities to enter 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 Mehrotra.
The overall climate of positivity is creating new business opportunities in the coworking 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,” said Manas Mehrotra.