Integrated office infrastructure and design company, EFC (I) Limited, has added a total of 3.6 lakh sq.ft to its co-working portfolio by expanding capacities in Pune and Noida. The company has added 1,10,000 sq.ft in Noida, UP and another 2,50,000 sq.ft in Pune. The company is set to add close to —–seats across these two locations.
Pune-headquartered, EFC, currently commands a presence in seven states spanning 35+ centres totalling 1.5 million+ sq. ft. area. The company, which has been witnessing a strong demand for co-working space, particularly from the institutional segment, has expanded its capacity by over 120 per cent, i.e. close to 50,000 seats at present as compared to 23,000 seats at the beginning of FY-24. Nearly 65 per cent of the company’s billed seats account for the institutional segment, while the remaining 35 per cent comes from the retail part.
The company had recently added close to 1,10,000 sq. ft. to its co-working portfolio by expanding capacities in Hyderabad and Noida. The company leased 60,000 sq. ft. in the Hi-Tech city of Hyderabad with a seating capacity of 1500 seats and another 40,000 sq.ft. in Noida sector 62 with a seating capacity of 750 seats.
“The Indian economy is on a growth trajectory and the demand for workspaces is growing at a robust pace. We are very bullish that at this pace, the market is likely to expand further and we are well poised to capitalise on the demand. Our current expansion is in line with our strategy to strengthen our foothold in the industry with our efficiently designed and ergonomics-friendly workspaces.,” Umesh Sahay, Founder & CEO, EFC (I) Limited, said.
According to estimates, India is currently the second-largest co-working market in the world. The concept of shared workspaces has gained significant momentum in the country in the last six years and it is estimated that around 30-35 million sq. ft of flexible office stock is available across the country. Of this, around 71% or 25 million sq. ft is from large operators and close to 3.70 lakh flexi seats are currently spread across the country’s major Tier-I and Tier-II cities.
