The company opened its ninth office in Unitech Cyber Park, Gurgaon, filling the supply gap created by the growing demand for flexible neighborhood workspaces from large and medium-sized businesses. The office is divided into six blocks of approximately 60 offices each.
“With this TOP becomes the only neighborhood coworking company to have seven operating offices in Gurgaon. This is also in line with our vision to become the 7-11 equivalent of coworking in India. Gurgaon people can now reach the office. Closest TOP within 10 min of where they’re located. We also have an office each in South Delhi and Noida, “said Aditya Verma, Founder and CEO of The Office Pass (TOP).
The new workspace is ideal for financial services support staff, insurance and corporate customer connection teams looking for a flexible space. The new center has been designed in accordance with the latest safety and hygiene standards to provide a healthy and secure working ecosystem.
Additionally, TOP plans to open its 10th neighborhood coworking office in Gurgaon before September. The new office will be a 200-300 seat space on Golf Course Road or Sohna Road.
In the short term, TOP plans to open 35 neighborhood coworking spaces and 15 managed offices across Delhi-NCR, Mumbai and another city to further strengthen its presence. These centers will target large companies, SMEs as well as start-ups, continuing to nurture the spirit of innovation and entrepreneurship across the country.
“We reached operational breakeven last year and are on track to become profitable. Now that we know how to make money in this industry, we want to expand aggressively, keeping profitability at the center of our growth. said Nikhil Madan, co-founder of The Office Pass (TOP).
The Office Pass (TOP) currently has 9 operational coworking centers. Neighborhood coworking is different from conventional coworking because it is aimed at people living nearby. TOP offices are smaller (150 to 250 seats on average) but are spread throughout the city and close to commercial and residential areas.
Given the upsurge in the number of Covid19 cases in the country, companies are relying more on working from home or working from home for their employees. This fuels the need for flexible offices. According to the 2019 JLL-FICCI report, the flexible space market is expected to grow by over 50 million square feet by 2023, with an average increase of around 15-20% per year over the three to the next four years. .