Avanta India, a leading co-working service provider is on an expansion mode with an amount of Rs 200 crore to be invested in leading business districts across major metros. The metro cities targeted include Mumbai, Bengaluru, Hyderabad and Pune. At present, their expansion business model works on contractual management and long term lease with developers for imposing steady growth.
As part of their expansion plan, Avanta India today opened its new business centre in the iconic Connaught Place. The business centre is valued Rs 10 crore, spreads around an area of 20,000 Sq.ft with 280 workstations, is located at Ambadeep building, KG Marg.
With the new business centre launch, Avanta India remains the only co-working group with two business centres in Connaught Place, New Delhi. The centres will be providing high-quality office spaces targeted towards SME’s and Startups. The current occupancy rate of this launched project has already reached a soaring 60% and is expected to scale up to 90% by the end of this financial year.
The office space at Ambadeep Building promises utmost privacy, flexible and unbranded spaces with experienced management team leading the project. The agreement procedure is simplified for entrepreneurs and corporate to one page. This will help in pacing the entire process. The project is currently being managed by internal accruals. However, the future funding is expected from Avanta Group, UK based parent company.
Sharing his thoughts on the group’s expansion plan in metros, Nakul Mathur, Managing Director, Avanta India, says,” Co-working spaces also popularly known as flexible offices are ruling the roost and is the necessary requirement for future businesses be it a large or small-sized corporate. The benefits these spaces bring in range from zero capital investment, flexibility and hassle free allotment. These features are proving attractive for corporate and freelancers. The industry has shown a tremendous expansion at more than 300% in the last few years and will continue to grow at a faster pace. Operators have to realise that the quality of services provided, will be the differentiating and assessing factor amongst various service providers.”