315Work Avenue to add 2 million sq ft office space

315Work Avenue is set to expand its coworking space by 2 million square feet by the fiscal year 2026. The company is investing around Rs 400 crore to meet the growing demand for flexible office spaces from various businesses. Currently, it manages 3 million square feet and aims to reach 5 million square feet by the end of this year. The company's founder, Manas Mehrotra, highlighted that there is significant demand for flexible workspace options as many companies prioritize productivity and cost efficiency. The ability to scale office space up or down as needed is appealing to businesses of all sizes. Mehrotra noted that they are focusing on key markets where the need for coworking spaces is strong. Currently, 315Work Avenue operates about 60,000 seats across 45 prime locations in major cities like Bengaluru, Chennai, Hyderabad, Mumbai, and Pune. The company plans to grow its presence further by expanding into 10 to 12 additional cities over the next two years. In the past year, 315Work Avenue has leased more than 1.25 million square feet to clients. The demand for coworking spaces continues to rise, as more corporates and multinational companies seek flexible work environments. Major clients include BNY Mellon, Tata Technologies, and AstraZeneca, among others. The office sector in India had a remarkable year in 2024, achieving record leasing volumes. India has become a leading market for office space, with Bengaluru accounting for 29% of the country's gross leasing volume. The coworking sector is expected to grow significantly, reaching over 100 million square feet by 2030, driven by businesses adopting flexible workspaces.