Awfis

Co-working operator Awfis is targeting two-fold jump in revenue to Rs 600 crore in FY23 as demand for flexible workspace has risen post the second wave of the pandemic, its founder and CEO Amit Ramani said. The company also plans to launch its initial public offer (IPO) towards the end of 2023 mainly to raise funds and give exits to investors, he said, adding the company has so far raised about Rs 450 crore from investors. At present, Awfis has 150 centres across 17 cities, comprising about 90,000 desks. It offers a desk in a price range of Rs 7,000-20,000 per month. In an interview with PTI, Ramani said the co-working segment, which includes managed office space, has been performing exceedingly well in the past 12-15 months. "Our revenue grew to Rs 280 crore in last financial year from Rs 220 crore in previous fiscal year. This financial year, we are targeting around Rs 600 crore revenue," he said. Ramani highlighted that the company has already achieved a monthly run rate of Rs

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After surviving the pandemic, Awfis is on an expansion mode. From 50 centres with 30,000 seats in 2015, it has more than doubled its capacity to 131 centres and 75,500 seats

Co-working firm Awfis on Tuesday said it has given on lease 64,000 square feet office space to agri-commerce firm WayCool. Awfis has leased 64,000 square feet to WayCool across Chennai and Bengaluru. Property consultant CBRE facilitated the leasing deal. Currently, the co-working player has 95 centres and 55,000 seats spread across 13 cities and is soon heading towards the 100 centres milestone before the end of 2021. Today, organizations are on the lookout for solutions that not only offer safety and convenience but also go the extra mile to improve productivity while optimizing costs," Amit Ramani, Founder & CEO, Awfis said. "The commercial real estate sector has proven to be extremely resilient over the last year. With the role of workplace changing, we at CBRE are optimistic that the sector's steady growth will continue in the future as well," said Anshuman Magazine, Chairman & CEO - India, South East Asia, Middle East & Africa, CBRE.

They are using the interregnum to expand and to negotiate cheaper real estate deals to add seating capacity

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai with an investment of about Rs 40 crore.

What do you do when your business model is based on professionals sharing workspaces at a time when coronavirus crisis is snowballing?

In the coworking space, top seven operators - Cowrks, WeWork India, Awfis, Regus, Smartworks, 91springboard and OYO Workspaces - have more than 350 centres across cities in the country

Real estate experts say such places work out to be 15-25% cost efficient vis-a-vis permanent offices

With shared offices in vogue, Awfis plans to add more than 100 centres in 12 months

The firm aims at its raising seat capacity to 40,000 in a year and it aims at foraying into six new cities including Chennai and Bhubaneshwar

The company is testing potential of mobile office concept