The Executive Centre (TEC), the leading premium flexible workspace provider in Asia with a presence in 36 cities across Asia-Pacific and the Middle East, plans to expand its footprint further in India with an investment of INR 125 crore. The company is set to open eight more centres across Chennai, Hyderabad, Mumbai, Bengaluru, Gurgaon and New Delhi, with three centres already operational.
In the South, TEC is investing over INR 47 crore across 1.12 lakh sq ft in centres including RMZ One Paramount in Chennai; RMZ Nexity in Hyderabad; and Raheja Cignus in Bengaluru. In Mumbai, TEC is investing around INR 33 crore across 59,000 sq ft at First International Financial Center & One BKC. In North India, TEC is investing over INR 42 crore across 96,000 sq ft at DLF Cyber City in Gurgaon, and Aerocity in New Delhi.
Speaking about the expansion, Paul Salnikow, Founder and CEO, The Executive Centre said “India continues to be one of the biggest and fastest-growing markets for The Executive Centre. The demand for flexible workspaces in the country has been on the rise with the changing preferences and requirements of the modern workforce. Various traditional and new-age sectors including IT/ITES, BFSI, and Startups in addition to the influx of GCC have contributed to this growth. We are doubling down on our sustainable growth strategy and investing INR 125 crore to open our best centres yet, across the country. We stay committed to delivering a top-notch experience for our existing and new members.”
Designed as per global standards and specifications, the centres will host a wide variety of facilities to boost productivity and promote work-life balance including state-of-the-art fitness centres, wellness rooms, nursing rooms, business lounge and baristas, library, phone booths, gaming zones and cafés.
Earlier this year, TEC announced a record-breaking revenue of USD 315 million (INR 2,603 crore) representing a 11.2% YoY growth. TEC India delivered 31% YoY growth in revenue and contributed 26% to the global adjusted EBITDA. The company currently has a presence in 16 countries and 36 cities with over 50,000 members globally.