Bengaluru-based coworking space provider 315Work Avenue is set for a significant expansion, planning to add 2 million square feet of workspace in FY26 with a Rs 400 crore investment. The company also aims to enter new cities while strengthening its foothold in existing markets, aligning with its goal of operating across 10-12 cities over the next two years and reaching 5 million square feet by the end of 2025.

Highlighting the increasing demand for flexible workspaces, Manas Mehrotra, founder of 315Work Avenue, stated, “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 optimize operational costs by scaling up or down as per business requirements.” He further emphasized the sector’s growth, noting that multinational corporations and large enterprises increasingly turn to coworking spaces as dynamic business hubs. “Our aim now is to keep expanding our portfolio, grow revenue, and remain profitable,” he added.

The coworking sector is experiencing unprecedented growth, driven by evolving workplace dynamics and a rising preference for cost-effective office solutions. Industry estimates project that India’s flexible workspace footprint could surpass 100 million square feet by 2030, with an annual growth rate of over 20%. Anarock’s March 2024 report, ‘New Age Flex Workspace’, forecasts that this figure could reach up to 140 million square feet, reflecting the rapid adoption of agile work environments.

In 2024 alone, 315Work Avenue leased over 1.25 million square feet to major clients, including BNY Mellon, AstraZeneca, Tata Technologies, Tata Motors, and Tata Power. Currently managing around 3 million square feet with 60,000 seats across 45 prime locations in Bengaluru, Chennai, Hyderabad, Mumbai, and Pune, the company is eyeing further expansion through organic growth and strategic acquisitions. The surge in demand has intensified competition with established players such as Urban Vault, WeWork, Awfis, 91Springboard, and The Executive Centre (TEC).

The broader office space market in India also saw a record-breaking year, with an 89 million square feet gross leasing volume across the top eight cities, according to Cushman & Wakefield’s latest data. Bengaluru led the charge, accounting for 29% of the total leasing activity. Meanwhile, rival firms are also scaling up their operations—TEC recently announced an addition of 2.38 lakh square feet backed by a Rs 180 crore investment, while 91Springboard is expanding its presence in the NCR region with 100,000 square feet across three new hubs.

Flex operators are increasingly exploring Tier-II cities as well. Shrinivas Rao, FRICS, CEO of Vestian, noted, “Flex operators not only grew in number but also expanded geographically. While Tier-I cities are major markets for flex operators, Tier-II cities such as Ahmedabad, Jaipur, Kochi, Lucknow, and Chandigarh are also gaining traction on the back of improved connectivity due to nationwide infrastructure developments, affordable office rentals, and ample availability of skilled workforce.”

With corporate interest in coworking spaces continuing to surge, 315Work Avenue’s aggressive expansion strategy underscores the industry’s potential for sustained growth and innovation in India’s evolving workspace ecosystem.