NEW DELHI: Co-working firm Avanta India has taken 20,000 sq ft office space on lease in central Delhi to open a new centre with an investment of 10 crore, as part of an expansion plan to encash rising demand of flexible workspace.

Avanta India, part of UK-based Avanta group, currently has five operational business centres, all in the national capital region (NCR). These five centres are spread over 1.2 lakh sq ft and has 1,200 seating capacity.

"We have taken on lease 20,000 sq ft office space in Kasturba Gandhi Marg near Connaught Place, Delhi. This will be our sixth centre," Avanta India MD Nakul Mathur said.

The new centre will have 280 seats, he said, adding that the company charges anywhere between 15,000 to 50,000 per seat depending on location.

Mathur said the company would invest 10 crore on setting up of this new centre, to be operational next month, adding that the company was looking at expanding in new cities.

The company as well as all of its five operational centres are profitable, he said.

"For over a decade, we have been providing top-class flexible office spaces and services in India. We understand that operating out-of-business centres is convenient and cost-effective than just renting an office space, thus we make sure that our clients get every opportunity to thrive," he said.

In September 2008, Avanta started operations from Statesman House in Connaught Place as its first business centre in the national capital.

According to a recent report from CBRE, co-working operators have leased 2.9 million sq ft of area, largely office space, during January-March 2019 across seven major cities - a jump of nearly four folds from the year-ago period, to meet rising demand for shared and flexible workplace.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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