The firm, which has put its growth plans on hold due to the outbreak of the pandemic, said it has already signed up 3,000 seats and is looking to open new centers in Bengaluru, Delhi, Hyderabad and Pune in the next quarter.
“We didn’t really expand after the outbreak of COVID because of the uncertainty. As demand returns, we are now scouting to add new centers across major hubs,” said Anand Vemuri, CEO, 91 Springboard.
91 Springboard, which turned profitable in December, is targeting revenue of Rs 200 crore for fiscal 2024. “Before Covid, we had over 70% occupancy Due to hybrid work models, the coworking sector is witnessing a boom and 91 Springboard is witnessing around 90% occupancy across 8 cities in India,” said Vemuri. 91Springboard plans to further strengthen its premium offering by adding more platinum centers. The company recently leased 300 seats from Vatika Group in Gurgaon.
“Consumer preferences are always evolving with changing times and advances in technology. The pandemic has paved the way for new work rules, which are more people-centric. So we’ve upgraded our hubs with new designs and amenities, setting new standards. The co-working industry. 91 in the Springboard Platinum range It is planning to open more hubs across the country,” he said.
The firm currently has 24 live hubs, spread across cities like Bangalore, Mumbai, New Delhi, Hyderabad, Gurgaon, Noida, Pune and Goa.
The post-pandemic emergence of hybrid working models and the booming startup culture has fueled demand for co-working spaces across the country.
According to a CII-Anarock report ‘Workplace of the Future’, the market size of co-working spaces will double at a CAGR of 15% over the next 5 years. As a leading player in this space, 91springboard is at the forefront of enabling a seamless shared workspace experience and providing unique experiences to occupants.