Embassy REIT Leases 2.07 Lakh Sq Ft to Cybersecurity Firm Rubrik at Embassy TechVillage
- Industry News
- January 15, 2025
Peak XV, Bisque Limited, and Link Investment Trust plan to sell a ₹583 crore stake in Awfis via a block deal. Awfis, India’s largest flexible workspace provider, reported a ₹38.67 crore Q2 FY25 profit and 40.46% revenue growth, bolstered by strategic expansions and a robust market presence.
READ MOREAwfis expands to Guwahati, managing 200 centres with 1.3 lakh seats nationwide. It plans to add 40,000 seats by FY25, reaching 135,000. Recent highlights include a 1.65 lakh sq ft NSE office project in Mumbai and ₹38.67 crore Q2 FY25 profit, marking strong growth in Tier-II cities and beyond.
READ MORESmartworks secures SEBI approval for its IPO, marking a key milestone in its expansion strategy. With 41 centres across 13 Indian cities and a recent entry into Singapore, the company reported ₹10.39 billion in revenue in FY24. Backed by Keppel Ltd., Smartworks plans to invest ₹2.38 billion in future growth.
READ MORE91Springboard COO Sameer Singh highlights evolving coworking trends, including hybrid work models, enterprise adoption, and demand for holistic experiences. The sector now serves diverse industries like BFSI and GCCs, balancing short-term agility with long-term solutions. 91Springboard remains a leader, offering tailored, community-driven workspaces for businesses at every growth phase.
READ MORETable Space plans to triple its Suites portfolio by 2025, expanding to 35 centres with 35,000 seats across 2.2 million sq. ft. Launched in 2024, Suites caters to BFSI, IT, and healthcare sectors, achieving ₹200 crore revenue in nine months. With 90% occupancy, it drives India’s managed workspace growth.
READ MOREHDFC Bank leases 4.16 lakh sq ft at Gigaplex, Navi Mumbai, for ₹24 crore annually. The 10-year lease includes 322 parking spaces and a 15% rent escalation every three years. The office, likely for IT/ITES operations, highlights Navi Mumbai’s growing prominence as a hub for Grade-A commercial spaces.
READ MOREWeWork India achieves a milestone with 1 lakh operational desks nationwide, inaugurating a 1.1 lakh sq ft centre in Bengaluru. Expanding further, it plans new workspaces in Gurugram and Chennai by 2025. With a presence in eight cities, WeWork continues shaping India’s flexible workspace landscape, catering to evolving workforce needs.
READ MORETamil Nadu is tapping into its land bank to develop 30 Grade-A office spaces near metro stations in Chennai, addressing rising demand. With 10.8 million sq. ft. absorbed in 2023, the state eyes GCC growth, offering incentives to attract global firms. Chennai ranked third in GCC leasing, driving strategic economic expansion.
READ MOREIndia’s first Commercial Property Rental Index reveals a 3.6% CAGR in office rentals over five years. Pune leads with 6.9% growth, followed by Chennai and Bengaluru. The index highlights post-pandemic recovery, consistent growth in Bengaluru, and emerging trends, positioning India’s office market for sustained growth.
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