Neighbourhood Coworking operator, The Office Pass (TOP) will launch its 14th Coworking office in Delhi NCR (12th in Gurgaon). The new coworking facility will be spread across 26,000 Square feet. The office will be aesthetically designed with high end specifications and boasts of 550+ workstations, extensive meeting and conference rooms, lounge, café and collab zones.
With the opening of this new space, TOP will further consolidate its position as the largest Coworking operator in Delhi NCR with 14 operational offices. The occupancy across TOP Coworking offices reached 87% in December 2022 quarter.
The new office will come up in Gurgaon inside a prominent business complex Unitech Cyber Park (UCP) that offers proximity to HUDA Metro Station as well as being conveniently accessible from Delhi and all parts of Gurgaon. This will be TOP’s fourth office in UCP with a combined capacity of over 1600 desks spread across 72,000 SqFt.
“The Coworking & Managed office business is experiencing strong tailwinds on account of people returning back to office in a hybrid manner. We hope to capitalise on this momentum and target of open 50 offices over next 24 months. TOP business turned profitable in Jan-March 2022 and we have been growing in triple digit post COVID.,” said Aditya Verma, Founder & CEO, The Office Pass (TOP).
The new space will cater to the office requirements of large corporates, SMEs, as well as start-ups. Corporates from team size 8 to 200 will be able to utilise this ready to plug-in facility from end of February 2023. TOP will make in investment of approximately 12 Cr in this new facility.
Flexible office operators see steady demand from enterprises and SME’s due to the uncertainty in the business environment and flexibility on investment commitment in the coworking space.
Commenting on this occasion Brijesh Damodaran, Founder, Auxano Capital one of the early investors in TOP said, “Hybrid work is the way forward. And with the leadership of the NCR markets, the growth playbook for geographic expansion is ready. Both bottom line and top line growth can be expected as TOP opens new centres in the months to come.”
The Coworking and managed office market has disrupted the traditional work environment and has seen massive growth in the last few years. Within the Coworking segment, Neighborhood Coworking is gaining traction as founders / CXOs look to avoid the long office commute by opting for an office space close to the place of their residence. TOP has been propagating #WalkToWork in India ever since its inception.