Instaoffice to launch 7,000 sq ft of co-working space in Udyog Vihar
Co-working and business centre space provider, InstaOffice will launch a 7,000 sq ft of co-working space in Udyog Vihar Phase-III, Gurgaon by the end of November. The centre will have a capacity of more than 120 seats. The company claims it to become profitable in less than 3-months of launch. This will be Instaoffice’s 6th co-working space in Gurgaon. Apart from this, it has presence in Delhi, Bengaluru and GIFT City, Gujarat.
“It takes around 45-60 days for us to set-up a centre and almost three months depending on the area for it to become profitable,” said Vikas Lakhani, co-founder of the company.
Instaoffice claims to maintain 85%+ occupancy in centres which are more than three months old with large corporate forming nearly 50% of company’s clientele. Over time, co-working has evolved into more than just an interim solution for one’s office space needs. However, with influx of companies, experts have a view that it is now moving towards a saturation point. Lakhani, however believes that the presence of the organised player in Gurgaon is still very limited and hence there is enough space to grow and expand. “From the demand perspective as well we have barely scratched surface. More and more companies are now warming up to the shared spaces.”
Lakhani said that they are gearing up for aggressive expansion in coming months. The company plans to launch about six to eight co-working spaces in the National Capital Region (NCR) in the first half of 2018.