315Work Avenue to Expand With 2 MSF addition in FY26, Touch 5 MSF

Bengaluru, April 3, 2025: In view of the high demand for coworking spaces, 315Work Avenue, one of India’s prominent coworking space provider plans to expand 2 million sq. ft of workspace over the next one year with a strategic investment of around INR 400 crore. The company which has experienced rapid growth since its inception, is aiming to enter newer cities along with strengthening its presence in the current markets. This growth is expected on the back of high demand for flexible spaces by corporates and the company is looking at organic and inorganic initiatives to expand its presence. 315Work Avenue currently manages 3 million square feet (msf) of space totalling around 60,000 seats across 45 prime locations in Bengaluru, Chennai, Hyderabad, Mumbai and Pune.

This expansion of 315Work Avenue is part of the company’s overall strategy to have about 10-12 cities in its portfolio over the next two years and touch 5 msf this year. Over the past one year, 315Work Avenue has leased over 1.25 msf to its clients. The company works with prestigious clients that include BNY Mellon, Webasto, Tata Technologies, Tata Motors, Tata Power, Muthoot, Moengage, Teamlease, Operative, Urban Company, Wibmo, Aramex, TotalEnergies, Northland, Esper, Hafele, AstraZeneca among others.

315Work Avenue Founder Manas Mehrotra said: “There is a huge demand for flex space from corporates of all sizes as flexible workspace has become a key component in the overall real estate portfolio of corporates to enhance employee productivity, foster collaboration, and optimising operational costs by scaling up or down as per business requirements. Our growth comes from focusing on the right markets, where the need for co-working spaces, managed offices, and flexible workspace solutions is high. The flexible workspace sector is rapidly evolving into a mainstream commercial real estate asset class, and this momentum will continue. 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. Our recent expansions, including significant leases in multiple cities, highlight our commitment to meeting the rising demand for flexible workspaces across the country. Our aim now is to keep expanding our portfolio, grow revenue and remain profitable.”

The coworking sector’s impact is poised to amplify in the future, driven by the fundamental transformation work dynamics have undergone which is unlikely to revert. With coworking spaces poised to take a leading role in shaping India’s office market, their contribution to the overall portfolio is set to grow significantly in the coming years. Industry reports suggest that the sector could see annual growth rates of over 20 per cent touching over 100 msf by 2030, driven by the increasing number of companies adopting flexible workspaces.

Overall, 2024 has been a defining year for India’s office sector, achieving record-breaking leasing volumes and reaffirming the country’s position as the strongest growth market globally for office space demand and growth. India’s office sector closed 2024 with historic achievements, recording an 89 msf of gross leasing volume (GLV) across the top 8 cities, according to Cushman & Wakefield’s latest office data, with Bengaluru topping the chart, accounting for 29 per cent of India’s gross leasing volume (over 25 million sq ft).