The Executive Centre (TEC), a premium flexible workspace provider in Asia, plans to expand its footprint further in India with an investment of Rs 125 crore.
The Hong Kong-based 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 Rs 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, the company said on October 17.
In Mumbai, TEC will invest around Rs 33 crore across 59,000 sq ft at First International Financial Center & One BKC. In North India, TEC plans to invest over Rs 42 crore across 96,000 sq ft at DLF Cyber City in Gurgaon, and Aerocity in New Delhi. The new investment will add over 2.6 lakh sq ft of office space to TEC India’s portfolio, the company said.
Paul Salnikow, Founder and CEO, The Executive Centre, said that India continues to be one of the biggest and fastest-growing markets for the company and the demand for flexible workspaces in India 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 (Global Capability Centres) have contributed to this growth. We are doubling down on our sustainable growth strategy and investing Rs 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,” Salnikow said.
Designed as per global standards and specifications, the new centres will host a wide variety of facilities to boost productivity and promote work-life balance including fitness centres, wellness rooms, nursing rooms, business lounge and baristas, library, phone booths, gaming zones and cafés.
Earlier this year, TEC announced revenue of USD 315 million (Rs 2,603 crore) representing a 11.2 percent YoY growth. TEC India delivered 31 percent YoY growth in revenue and contributed 26 percent to the global adjusted EBITDA. The company currently has a presence in 16 countries and 36 cities with over 50,000 members globally.
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