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<ul><li>Over 50% of the companies in tech and retail sectors are open to hybrid working models. </li><li>Interestingly, it’s the smaller sized companies who want their workforce to be back at their desks. </li><li>Around 35%-40% of the organisations are embracing the idea of hybrid working, says a survey by <keyword id="3502552" type="General" weightage="80" keywordseo="awfis" source="Orion">Awfis</keyword>.</li></ul>It’s not just tech companies that are ending the work-from-home phenomenon. As per a new report by Awfis, a coworking space network company, the sector that’s most strict when it comes to working out of the office is the pharmaceutical sector. In a survey by Awfis and <keyword id="3196150" type="General" weightage="20" keywordseo="Qdesq" source="Orion">Qdesq</keyword>, 90% of pharma companies surveyed said that they prefer work from the office, with only 10% of them open to hybrid working models. The sectors that are most open to hybrid working models are banking and financial services, engineering and manufacturing – at 70% of them said in the survey. Next comes retail and tech sectors where 50% of those surveyed preferred hybrid working models. The work location preference also varies with size of the company. More than 70% of the smaller firms are in favour of working from the office, while 15% of large firms are on board with hybrid working models. Overall, across sectors and sizes, about 35-40% of companies prefer the idea of hybrid working. Around 45% of corporations are looking for new office spaces including conventional and flex, while 35% of them already instituted a multi-office approach through collaboration with coworking spaces, said Indian <keyword id="15597723" type="General" weightage="20" keywordseo="Flex-Occupiers-Survey-2022" source="Orion">Flex Occupier’s Survey 2022</keyword>. A large chunk of the workforce went back to their hometowns during Covid-19 lockdown and the companies across all sectors had no choice but to pivot to a hybrid work model. The situation has since changed again and organizations are progressively collaborating with flex space operators to ensure the seamless execution of the hybrid work model despite office development in numerous places. “As firms continue to evolve with the changing market dynamics, the workforce expectations, too, have changed with new working models like hybrid, work-from-home, and working from office coming to the fore,” said Paras Arora, founder and CEO, Qdesq. <cmsannotation type="cmsannotation" annotationid="Flex workspaces core to workplace strategy" comment="subhead" text="Flex workspaces core to workplace strategy">Flex workspaces core to workplace strategy</cmsannotation> Sectors like banking, insurance and technology, where employees have already started going to the office again, are expected to lead the demand for office spaces in 2023, the report revealed. Majority of the respondents are looking to collaborate with coworking space players to implement a strategy for a distributed workforce, while 30% of respondents are searching for more affordable alternatives to rental offices to have more financial flexibility, the report said. “The years 2020 and 2021 played a defining role in causing a paradigm shift in Indian occupiers' demands and making Flex workspaces core to their overall workplace strategy. The return of the workforce to offices is now certain and so is the resolute need for flexibility at work which paves a clear path for accelerated growth and expansion of India's flex space market in the coming years,” said Amit Ramani, founder and CEO, Awfis. Top seven cities — Bengaluru, Hyderabad, Mumbai Metropolitan Region (MMR), Pune, NCR, Kolkata and Chennai — account for 20% of the total demand for coworking space in the country, Anarock report said. “Organizations are implementing a set of new workplace strategies in a post-pandemic world, which have been greatly influenced by the circumstances faced during the pandemic,” the Awfis report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/alarming-rise-in-lung-cancer-amongst-non-smokers-women-and-youngsters-study/articleshow/95713544.cms">Alarming rise in lung cancer amongst non-smokers, women and youngsters - Study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/mukesh-ambanis-jio-financial-services-deep-pockets-and-wide-reach-to-challenge-the-likes-of-paytm-bajaj-finance/articleshow/95714425.cms">Mukesh Ambani’s Jio Financial Services’ deep pockets and wide reach to challenge the likes of Paytm, Bajaj Finance</a>

Not IT or banking, but pharma leads the demand for employees' return to offices

<ul><li>While the co-working spaces had to stop operations during the initial phase of the lockdown, things are now slowly getting back to normal.</li><li>In fact, the lockdown could have given a boost to the industry as more and more organizations are now looking at cost-efficiency, flexibility and people are increasingly looking for spaces near their houses.</li><li>Most players from the industry are confident that the co-working space will see resurgence soon, and that it has a good growth opportunity in the future.</li></ul>Before the world was hit by the pandemic that led to offices shutting down and people working from home, co-working spaces had started becoming the place for small businesses, entrepreneurs and start-ups to set up shop. Often bustling with people from varied background, all working at the same place, co-working spaces had a lot of pros. Apart from the cost-efficiencies and the increased flexibility for people working at their own pace and time, these spaces were also great places to network and build connections. However, with the lockdown, the functioning of these spaces was brought to a halt, atleast in the initial months, when people were stuck at homes. However, with things opening up, there has been a visible change in how people work. We decided to find out what exactly is happening in the co-working space and what its future of looks like from where we stand today. <cmsannotation type="cmsannotation" annotationid="How the co-working space fared in 2020" text="How the co-working space fared in 2020">How the co-working space fared in 2020</cmsannotation> It is obvious that the co-working space would be hit by the lockdown. However, the same lockdown gave rise to an evolution in the way we work. People suddenly were looking for flexibility. Places like Mumbai where a huge population depends on local trains were left stranded once the trains were stopped, so it also led to a rising need for office spaces near people’s homes. Elaborating, <keyword id="309498" type="PERSON" weightage="20" keywordseo="Vineet-Singh">Vineet Singh</keyword>, Head of Brand &amp; Marketing - <keyword id="2918346" type="COMPANY" weightage="20" keywordseo="WeWork">WeWork</keyword> India said, “While everyone expected the demand for shared spaces to go down, the pandemic gave rise to a new style of working that included the need for flexible hours, rostered shifts, and workspaces closer to home. The workplace evolved from being purely functional to being more productive, experiential, and meaningful. Large occupiers started adopting conservative leasing strategies and put up decisions regarding fresh take- up of spaces on hold for the next few months. The pandemic led businesses to re-evaluate their commercial real estate strategy to make it more resilient and agile to adapt to these changes. Occupiers began to take into account the need for flexible workspace and helped occupiers to reduce capital costs, place greater emphasis on employee wellbeing &amp; sustainability, and fast track the adoption of flex working practices. During this period WeWork India continued to build on flexible working solutions for all our members with products to suit every business requirement, ranging from freelancers to the largest multinational companies.” <keyword id="3875950" type="PERSON" weightage="20" keywordseo="amit-ramani">Amit Ramani</keyword>, Founder &amp; CEO, <keyword id="3502552" type="PERSON" weightage="20" keywordseo="Awfis">Awfis</keyword> shared a similar opinion. “Despite the unprecedented circumstances, the pandemic and subsequent lockdown emerged as game changers for the co-working sector. According to recent industry reports, the Indian flex space market witnessed a supply boom which resulted in a significant rise in the total stock of flex spaces, which nearly tripled from 9.9 million sq ft. in 2017 to 29.5 million sq. ft. in 2020 over a period of close to 3 years. Since most of our clients are large enterprises with long-term leases, we did not see substantial impact on our revenues. Also, as majority of our business falls under the profit-sharing (managed aggregation) model, the strength of our relationship with our landlords has played a significant role in helping us steer through this time. We also took this challenge head on to understand the changing needs of our customers, innovate and come up with new solutions to cater to the evolving work landscape.” Meanwhile, the pandemic also led to a lot of the players to re-invent and innovate, to address consumer problems. Two months into the pandemic, Awfis launched its work-from-home product - Awfis@Home. It provided employees the flexibility to work efficiently from their homes while replicating the setting of a productive office work environment, including the Physical infrastructure, IT infrastructure and Tech integration. “We have received a great response for the product, for instance, 1000 units of Awfis@Home have been sold till now via direct sales as companies are providing allowances to employees for a comfortable work from home experience. We also created win-win partnership models like ‘Powered By Awfis’, which continue to help companies optimize costs by creating flex workspaces out of their unutilized or underutilized real estate. This in turn generates an additional revenue source for them and while allowing us to add to our existing footprint,” shared Ramani. Meanwhile, some even looked at diversification to keep their businesses going. “We successfully launched our dream workstreams, namely Founders Club – a business accelerator to help early stage startups and The Circle of Angels, an angel network to facilitate funding for startups,” shared Bathla. <cmsannotation type="cmsannotation" annotationid="The present scenario" text="The present scenario">The present scenario</cmsannotation> Despite the minor disruption that the lockdown caused, most co-working spaces are seeing a good resurgence and most players are optimistic about the industry getting back on track. “Co-working spaces are doing well and witnessing robust operations now. The post lockdown scenario is bringing in a wave of new opportunities for the co-working players. While the work-from-home model would have worked well in the lockdown, many companies may not want it as a culture and many business verticals and functions still require employees to work in an office setting. Work-from-home may co-exist, but office space will not lose its importance. Many companies, even pre-pandemic, have had to deal with the burden of long-term, lock-in leases with heavy security deposits, which take away the ‘business cashflow’ ability to respond to changes in the economy quickly. Now, more than ever, flexibility is crucial and hence co-working spaces, with their natural flexibility and inherent readiness to add value are best positioned to adapt and redefine the future of work and workspace,” explained <keyword id="2439294" type="PERSON" weightage="20" keywordseo="Manas-Mehrotra">Manas Mehrotra</keyword>, Founder, <keyword id="9435040" type="UNKNOWN" weightage="20" keywordseo="315work-avenue">315Work Avenue</keyword>. A recent report by JLL stated that the current market penetration of flexible workspaces in total office space stands at 3% and this percentage is expected to go up to 4.2% by 2023. The report further stated that irrespective of some short-term disruptions and challenges, increased demand from large enterprises will help the industry grow to more than 50 million square feet by 2023. The flexible spaces segment is expected to grow by an average of around 15-20% per annum over the next three-to-four years, even though the trajectory might not be linear. Meanwhile, <keyword id="10635247" type="UNKNOWN" weightage="20" keywordseo="rajiv-bathla">Rajiv Bathla</keyword>, Chief Operating Officer, <keyword id="10635246" type="UNKNOWN" weightage="20" keywordseo="the-circle-work">The Circle.Work</keyword> said that while there has been an incremental increase every month since things started opening, it’s still sometime away from normalcy. “With every subsequent un-lock, operation of public transport and the metro, incremental business volumes are certainly coming in. The occupancy levels still at best are 35% with larger enterprises still waiting it out. I feel apart from the financial aspect, there’s still fear around what’s safe and what’s not. People who have maintained all the necessary precautions, teams that have been vigilant on social distances norms and wearing of masks have been unaffected and continue to enjoy the plethora of benefits that our ecosystem offers them - a design-led, state-of-the-art plug-and-play infrastructure where individuals and teams thrive on enjoying each day at the workplace,” he said. <cmsannotation type="cmsannotation" annotationid="Bringing people back to co-working spaces" text="Bringing people back to co-working spaces">Bringing people back to co-working spaces</cmsannotation> Despite things opening up, there are many people who have their reservations about venturing out, atleast till the vaccinations hit the markets. Considering going to a co-working space means often working beside or making contact with people you might not know, how convinced are people to come back? And how are these spaces wooing people back? Apart from providing its members with multiple flexible options to suit their needs, WeWork is offering additional flexible options to help businesses ease into their new routines and get back to the office. “To ensure our space abides by the health and safety regulations, we conduct frequent cleaning of our areas, sanitization of equipment, in a bid to prioritize team wellbeing. Every WeWork facility has revised spatial guidelines, seating layouts, and social distancing norms. WeWork is ready with all health and safety measures as members return, keeping government and industry body guidelines in place. We are also the only shared workspace in the country to have received the global certification from The British Safety Council. The certification recognizes our efforts in taking stringent risk management and control measures to keep the environment safe and secure for all members and stakeholders, Singh shared. Shining the spotlight on what Awfis is doing to ensure safety, Ramani said “An operational checklist is in place to ensure the physical safety and wellbeing of our occupants along with maintaining the highest standards of hygiene. We are constantly and transparently communicating with our clients to address any concerns and also helping with formulating a return to workplace strategy to gradually transition back to the physical workspace after months of work from home.” Awfis will also be soon launching new features like the UV sanitization of meeting rooms and thermal scanning before entering the meeting rooms. Meanwhile, 315Work Avenue is also not leaving any stone unturned to make sure people feel comfortable in their spaces. “We have put in the best practices in place by consulting a vast panel of experts on our board which also includes several doctors. Based on their inputs, we have come up with two very differentiating products to provide hospital/ healthcare facility standard sanitization at our workspaces. First is making use of an ‘Ioniser,’ a patented technology that provides hospital standard air filtration and kills all the germs in the air. Second is making use of coatings and paints which always keeps the surfaces sanitized.We have also redesigned our seating arrangement at workstations and in areas like the cafeteria, lift, breakout lounges, etc. to maintain proper distancing,” Mehrotra shared. “Adopting to the highest standards of safety as prescribed by Ministry of Health and other government bodies, ensuring very visible sanitization and daily disinfection of premises, institutionalizing our own differentiated standards of contactless technology like temperature screens as members walk through the turnstiles, QR code-driven vending machines including tea and coffee machines are some of the initiatives we’ve taken to heighten safety, explained Bathla. <cmsannotation type="cmsannotation" annotationid="What the future holds" text="What the future holds">What the future holds</cmsannotation> So what will the future look like for the flexi, co-working space? And how are these players future-proofing their business to ensure their businesses are not impacted adversely even if another year like 2020 comes about? “Our endeavor here was to future proof our team’s mindset. Team Circle persevered with a positive spirit, keeping the evolving future in mind and collectively worked to showcase how to navigate through tough times. Keeping relationships vs economics at the forefront, we retained more than 80% of our member base. The rebound is going to be superfast when you have customer and clients on your side,” shared Bathla. Meanwhile, Mehrotra feels that co-working space providers now need to rethink their strategy, packages, interior and design areas, and make the segment more attractive for consumers. “Co-working spaces will see a surge as they offer flexible infrastructure solutions and also set precedents for safe and healthy practices too. As companies look to resume business, redesigning and restructuring of existing real estate will pose yet another challenge, however co-working spaces will be able to respond to design changes required post-COVID-19 quicker and more efficiently than traditional office spaces,” he said. Earlier this year WeWork India received $100 million in a fresh round of funding and the organization already has a plan in place focusing on long-term sustainable growth across all its spaces. “We want to pivot our energies towards attaining profitability for sustainable long-term growth. While the first three months of 2020 were profitable for WeWork India, as we moved towards the pandemic phase, there were some changes we made at a strategic level that focus on existing locations, while we continue to enhance member-experience through flexible solutions. We continue to offer flexible solutions to businesses of all sizes this year and focus on attaining profitability by early 2021,” added Singh.

What the future holds for co-working spaces in India

<ul><li>In an interview with Business Insider, <keyword id="3875950" type="PERSON" weightage="20" keywordseo="amit-ramani">Amit Ramani</keyword>, CEO, <keyword id="3502552" type="PERSON" weightage="20" keywordseo="Awfis">Awfis</keyword>, talks about how they achieved profitability so soon.</li><li>Awfis recently raised a Series D funding of $30 million from marquee investor ChrysCapital along with existing investors Sequoia India.</li><li>According to reports, it plans to list by 2022.</li></ul>As gig economy in India expands and agility is becoming common even amongst large established companies – co-working spaces have started mushrooming. Even in this crowded segment, Awfis is growing fast. It has also managed to clock in profits within two years of operations. It recently raised Series D funding of $30 million from marquee investor ChrysCapital with participation from existing investors like Sequoia India &amp; The Three Sisters: Institutional Office. With this latest funding, Awfis plans to bring out new tech-driven innovative products and foray into Tier II markets like Jaipur, Ahmedabad, Bhubaneshwar, Kochi and Indore. It is already present in Chandigarh. The company also aims to go <a href="https://www.cnbctv18.com/startup/startup-street-might-list-the-company-by-2022-says-amit-ramani-of-awfis-4461911.htm">public </a>by 2022. Exponential growth Awfis also achieved a rare feat for a startup, which is profitability within two years. In the very first year of operations in FY16, its revenues was at ₹1 crore. In the very next year, the number touched ₹18 crore. In the next, its exponential growth swelled it to ₹56 crore. In the current financial year, it expects it to more than double it. “We have been growing three times every year, despite also adding seats and increasing our size,” Amit Ramani, CEO of Awfis told Business Insider India. Profitability has always been core to its strategy. “We were deeply invested in the unit economics of each centre and were very careful not to overbuild the capacity of our staff or go overboard on marketing,” he said. Ramani said that they now aim to expand to 200,000 seats by 2022. Currently, they have 30,000 seats across 63 centres in 10 cities. Not just for startups The company also discovered a new set of clientele. While most co-working spaces tend to target startups, Awfis realised that the Indian SMEs are in need of their services. “While most co-working spaces look at just startups which are 10% of the total requirement of office space, 60-70% of SMEs remain underserved. So, we give SMEs an upgrade while also saving them money,” said Ramani. Ramani said that when he had built the-proof-of-concept for Awfis in April 2015, it had three basic principles – bring flexibility back into real estate, provide accessibility as people’s lives are becoming very mobile and ensure transparency, with all discoverability and bookability being on an app allowing people to book on-the-go. See Also: <a href="https://www.businessinsider.in/oyo-workspaces-launches-latest-old-fort-style-centre-in-delhi/articleshow/70605436.cms">OYO’s latest coworking space will give you a glimpse of the old world charm</a>

This co-working space achieved profitability in just two years and is now aiming for an IPO

<keyword id="3502552" type="UNKNOWN" weightage="20" keywordseo="Awfis">Awfis</keyword> Space Solutions Pvt. Ltd which is now South Asia’s largest network of collaborative co-working spaces, has received an investment of USD 20 million from <keyword id="563136" type="UNKNOWN" weightage="20" keywordseo="Sequoia-India">Sequoia India</keyword>, recently. The funds will be used to grow its network of centers, launch new and innovative products/services and further enhance the existing technology platform. It’s international competitor WeWork launches in the Indian market shortly, starting with <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> and then expanding to Mumbai. Working towards achieving its target of having an Awfis centre within a 10 minutes driving radius in each of the key metros, the company plans to establish 100+ centres with 35,000+ seats across Mumbai, NCR, Bengaluru, Chennai, Hyderabad, Kolkata, and Pune in the next 24 months. 

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Amit Ramani – Founder &amp; CEO, Awfis told Business Insider, “To expand at a rapid pace,we have embraced a joint venture model where 75% of our centers are managed by us but owned by others.We have 500 companies with us, currently ranging from India’s leading startups/MSMEs to Fortune 500 companies, forming the largest co-working community in India.” The co-working has a lot of features like: • A network of over 7,500+ seats across 21 centers in 8 cities across India • Strong demand from an eclectic community of entrepreneurs, SMEs, freelancers and business corporates who have helped create a thriving community of over 5,000+ Awfis members • An average 90%+ occupancy across its established centers • A unique, ‘Just-in-Time’ booking facility through its customized mobile app and website 

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Apart from its own proprietary centers, Awfis also has a unique, asset light ‘managed aggregation’ model - partnering with space owners who have unused commercial space and transforming them into suitable places to work for the Awfis community. The company has a successful shared economy business model that not just provides a network of ready to use work spaces across India, but also offers value driven services that can be booked ‘just-in-time’ through its website and mobile app. The Awfis Rewards program provides its members access to exclusive offers from 100+ renowned partners (including Amazon Web Services, Oyo Rooms, Hard Rock Café, SRL Diagnostics, etc) just by registering a seat. 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="58532304" title="Flipkart announces the Big 10 Sale, which starts just after Amazon’s sale" rank="1.0" kind="RELATED" publishDate="May 05, 2017, 3:21 PM" mstype="2" mssubtype="0"></div></div> Their newest innovation is truly set to revolutionize mobility as they are even allowing their partner companies to work while travelling by remodeling car models like <keyword id="560486" type="UNKNOWN" weightage="20" keywordseo="Tata-Innova">Tata Innova</keyword> to allow people to work inside their cars, enabled by facilities like desk, printers and even a coffee machine. That’s innovation at its Indian best!

Awfis Remodeled Cars with Printers, Coffee Machines is the Kind of Workplace We Need

Asia’s biggest co-working space, <keyword id="3502552" type="UNKNOWN" weightage="20" keywordseo="Awfis">Awfis</keyword> with 2,500 seats is not just changing the way we work but is making sure we actually work. 
 Awfis recently launched a mobile office which is typically a van equipped with all the features you need on-the-move to work. Facilities like Wi-Fi; teleconferencing, printing, <keyword id="6354857" type="COMPANY" weightage="20" keywordseo="CCTV">CCTV</keyword> ,pantry and even a meeting table for their partner companies that want the employees’ commute time to be used productively. Now, that’s effective considering if you are forced to commute to Gurgaon or <keyword id="6356788" type="COMPANY" weightage="20" keywordseo="Greater-Noida">Greater Noida</keyword> for work and you live in Delhi, the commute time can easily range between 2-4 hours every day, to-and-fro. 
 Amit Ramani, CEO, <keyword id="3207074" type="UNKNOWN" weightage="20" keywordseo="Awfis-Space-Solutions">Awfis Space Solutions</keyword> caught up with <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> to tell us how Awfis is making sure that people ACTUALLY WORK at the office. ‘We are providing real-time analytics to companies that want to know if their employees are actually working out of our co-working space.’ Awfis has many companies like <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, Renew Power, FICCI etc. are taking up seats at the co-working facility to give their employees an option to work near-home. 
 
<a href="http://www.businessinsider.in/A-survey-reveals-60-of-employed-Indians-aspire-to-be-entrepreneurs/articleshow/55152360.cms">The employees can be tracked </a>through CCTV cameras, in-out times and of course through Wifi usage. Good day for the honest workers. 
All of this to ensure that you are working, at your convenience. 
 
<a href="http://www.businessinsider.in/Snapdeal-is-moving-its-employees-to-co-working-setup/articleshow/55182709.cms">ALSO READ: Snapdeal is moving its employees to this co-working setup</a> 
 
Sadly for workers,<a href="http://www.businessinsider.in/Now-you-can-list-your-car-for-rent-and-get-paid-for-it/articleshow/55154351.cms"> traffic </a><a href="http://www.businessinsider.in/Now-you-can-list-your-car-for-rent-and-get-paid-for-it/articleshow/55154351.cms">jams</a><a href="http://www.businessinsider.in/Now-you-can-list-your-car-for-rent-and-get-paid-for-it/articleshow/55154351.cms">, </a>and bad connectivity can no more be valid excuses for missed deadlines.

This ‘Awfis’ is making sure that employees work every minute
of the working hours

According to reports, e-commerce giant <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> is shifting their staff from a 200-capacity space in Malad, Mumbai to about 90-seats in the <keyword id="3502552" type="UNKNOWN" weightage="20" keywordseo="Awfis">Awfis</keyword> Space Solutions. 
 The first thought that comes to mind after reading this is that the e-commerce industry in India is running into such high losses that cutting costs has become necessary. The other thing worth noting is the fact that <keyword id="2498362" type="UNKNOWN" weightage="20" keywordseo="co-working">co-working</keyword> spaces have become such a norm that companies prefer it over the traditional office space. 
 Even as cash-strapped <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> are creating demand for co-working spaces in the metro cities, it is not clear why Snapdeal decided to move employees into this setup. The company told media earlier that the move to shift its Mumbai office to a co-working hub is not aimed at <a href="http://www.businessinsider.in/Now-you-can-list-your-car-for-rent-and-get-paid-for-it/articleshow/55154351.cms">cost reduction.</a> It is to make commuting easier for as the new office is centrally located and provides better public transport connectivity with Mumbai metro in the vicinity. 
 
However, sources have confirmed that the company's move comes after it decided to cut on the space requirements as per the <a href="http://www.businessinsider.in/Redefining-the-concept-of-tea-breaks-for-corporates/articleshow/55095324.cms">business demand</a>. 
 According to a <keyword id="6363605" type="CITY" weightage="20" keywordseo="knight-frank">Knight Frank</keyword> report, any office space maintenance and cost in Mumbai, Delhi or Bangalore can cost between US$25,000 to US$30,000 a year. The report suggested that office sharing could save new businesses between 73 percent and 76 percent of the total cost. In India as of now, there are close to 61 co-working spaces, according to startup tracking firm Traxcn, of which 16 were set up in 2016 and this number keeps growing. Recently, U.S. office rental startup WeWork announced that it is opening a center in India starting from the second quarter of 2017. 
 
So what is the real pull here? Most start-ups working out of this space think it’s the opportunity to work with people with different skill sets that can act as a pool of talent, mentors, and advice. 
 
<a href="http://www.businessinsider.in/A-survey-reveals-60-of-employed-Indians-aspire-to-be-entrepreneurs/articleshow/55152360.cms">ALSO READ: A survey reveals 60% of employed Indians aspire to be entrepreneurs</a> 
 Awfis specifically has turned it into a lucrative marketing channel for financial and consumer brands partnering with 50 brands including Dunkin Donut, MakeMyTrip, <keyword id="87153" type="CITY" weightage="20" keywordseo="BNP-Paribas">BNP Paribas</keyword> and OLX to provide members with discounts in exchange for marketing commission. So while on their website, a 9 persons office in <keyword id="6366112" type="ORGANIZATION" weightage="20" keywordseo="Andheri-East">Andheri East</keyword> costs INR 117,000 per month or INR 5,000 per month for a desk, Snapdeal might just have struck a smart deal with the enterprise. 
 <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> caught up with Amit Ramani, CEO, Awfis Space Solutions, which is <keyword id="52011" type="CITY" weightage="20" keywordseo="South-Asia">South Asia</keyword>'s biggest co-working space provider with 2500+ seats, and he was very bullish on the idea that big corporates are adjusting to co-working spaces,' The MSME sector will lead the change when it comes to debunking the conventional office spaces. Many organisations like Renew Power, FICCI are working with us to give their employees a chance to work near their homes instead of battling traffic which saves time and money and increases productivity scores.' 
​ 
The actual premise is that traditional offices are out of date. People everywhere, at start-ups or in large corporations, want open, creative spaces with cross collaboration, latest services like internet, security, food, and coffee and fresh design that doesn’t bore them. 
 
<a href="http://www.businessinsider.in/Heres-how-you-can-go-kayaking-cliffjumping-snorkelling-ziplining-and-camping-all-in-just-under-Rs-4000/articleshow/55113996.cms">They don’t mind a desk job as long as it is on a bean bag in the middle of a coffee shop.</a> 
 
Image credits- Awfis.com

Snapdeal is moving its employees to this co-working setup

Not all great ideas need to come out of a garage or your parent’s dingy basement; we have found just the perfect work spaces that are certain to get your creative juices flowing. With the ever buzzing start-up market in India, it is only natural that you imbibe some of the best qualities of the <keyword id="6357722" type="COMPANY" weightage="100" keywordseo="silicon-valley">Silicon Valley</keyword>, one such idea is a <keyword id="2498362" type="UNKNOWN" weightage="20" keywordseo="co-working">Co-working</keyword> space. But the ones listed here are nothing like your routine office desk or cabin, these spaces will certainly blow your mind. Head to these five co-working spaces to incubate your billion dollar ideas.

Five funky co-working spaces that will give you a taste of the Silicon Valley

<ul><li><keyword id="19940563" type="General" weightage="20" keywordseo="JioCinema" source="keywords" meta.keywordsubtype="org" meta.entityname="JioCinema" meta.hostid="261" meta.entityid="JioCinema">JioCinema</keyword> has announced a new annual ad-free premium plan for individuals.</li><li>The premium subscription plan has been priced at ₹299 per year.</li><li>Here’s everything you need to know about JioCinema’s new <keyword id="21835315" type="General" weightage="20" keywordseo="annual-subscription-plan" source="keywords">annual subscription plan</keyword>.</li></ul> Mukesh Ambani-owned streaming platform JioCinema has announced a new annual subscription plan, soon after announcing two <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms">monthly premium plans</a>. The new annual premium subscription from the digital arm of <keyword id="19976121" type="General" weightage="20" keywordseo="Viacom18" source="keywords" meta.keywordsubtype="org" meta.entityname="Viacom18" meta.hostid="261" meta.entityid="Viacom18">Viacom18</keyword> offers ad-free content in 4K. After announcing two monthly plans, JioCinema has now announced an annual plan for individual users. The company is yet to announce an annual plan for family users. <cmsannotation type="cmsannotation" annotationid="JioCinema annual plan price" comment="subhead" text="JioCinema annual plan price"><keyword id="17566564" type="General" weightage="100" keywordseo="JioCinema-annual-plan" source="Orion">JioCinema annual plan</keyword> price</cmsannotation> The JioCinema annual plan is priced at ₹299 per year, which is significantly cheaper than the monthly plan which costs ₹678 per year. While it is priced at ₹29 for the first month, the renewal costs ₹59 per month. The ₹299 annual plan is currently available at a discounted price. After the first year, the plan will cost ₹599. It is currently being offered at a 50% discount as part of an introductory offer. On the other hand, the family plan costs ₹89 per month and there is no annual plan available yet for families. Do note that sports content, including the Indian Premier League (IPL), will continue to be free with Jio’s ad-supported tier. <cmsannotation type="cmsannotation" annotationid="JioCinema premium plan features" comment="subhead" text="JioCinema premium plan features"><keyword id="17402458" type="General" weightage="20" keywordseo="JioCinema-premium-plan" source="Orion">JioCinema premium plan</keyword> features</cmsannotation> The JioCinema <keyword id="21803687" type="General" weightage="20" keywordseo="premium-plan" source="keywords">premium plan</keyword> offers access to all premium content on the platform without any ads, except sports and live content, which will continue to show ads. JioCinema has announced several partnerships over the last few months, including with HBO and Paramount. The company has said that in addition to English, content from international studios will be available in Hindi, Telugu, Tamil, Marathi and Bengali. Users who subscribe to either of the premium plans will also be able to download the content and watch it offline on their device. <cmsannotation type="cmsannotation" annotationid="Plans from rivals" comment="subhead" text="Plans from rivals">Plans from rivals</cmsannotation> JioCinema’s offerings are considerably cheaper when compared to plans offered by its rivals. Netflix offers a mobile-only subscription at ₹149 a month, while Prime Video has a subscription fee of ₹299 per month of ₹1,499 per year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms">Samsung Galaxy F55 with leather back launched in India starting at ₹26,999</a> <a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms">Lenovo LOQ 15 review – gaming laptop with a sturdy design</a>

JioCinema launches new annual ad-free subscription plan at a discount

The <keyword id="19949639" type="General" weightage="20" keywordseo="Rupee" source="keywords">rupee</keyword> appreciated by 7 paise to 83.24 against the US dollar on Wednesday amid softening <keyword id="20024983" type="General" weightage="20" keywordseo="Crude-oil-prices" source="keywords">crude oil prices</keyword> in the international market. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> said the local unit faced some resistance due to subdued sentiment in the domestic equity market and foreign fund outflows. At the interbank foreign exchange market, the local unit opened at 83.29 and inched up further to trade at 83.24 against the greenback, registering a gain of 7 paise from its previous closing level. On Tuesday, the rupee appreciated 6 paise to close at 83.31 against the US dollar. "As the rupee seems to have started aligning with its fundamentals, in the short term, one can expect the Rupee to approach levels of 83.00 to 83.10, while the medium-term target is projected to range between 82.80 to 82.50 levels," CR Forex Advisors MD Amit Pabari said. Meanwhile, the <keyword id="19976503" type="General" weightage="20" keywordseo="Dollar-index" source="keywords">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, was trading at 104.63, lower by 0.02 per cent. <keyword id="19969325" type="General" weightage="20" keywordseo="Brent-crude-futures" source="keywords">Brent crude futures</keyword>, the global oil benchmark, declined 0.65 per cent to <keyword id="19944038" type="General" weightage="20" keywordseo="USD" source="keywords">USD</keyword> 82.34 per barrel. On the domestic equity market, the 30-share BSE Sensex was trading 37.12 points, or 0.05 per cent lower at 73,916.19 points. The broader NSE Nifty was down 30.40 points, or 0.13 per cent, to 22,498.65 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 1,874.54 crore, according to exchange data. On the macroeconomic front, according to an article in the RBI's May Bulletin released on Tuesday, India is likely to grow by 7.5 per cent in the first quarter of the current financial year, driven by rising aggregate demand and non-food spending in the rural economy. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/awfis-space-solutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/110305597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/awfis-space-solutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/110305597.cms" target="_blank">Awfis Space Solutions IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/sports/webstories/rajasthan-royals-vs-royal-challengers-bengaluru-head-to-head-record-key-players-and-more/slidelist/110298325.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/rajasthan-royals-vs-royal-challengers-bengaluru-head-to-head-record-key-players-and-more/slidelist/110298325.cms" target="_blank">Rajasthan Royals vs Royal Challengers Bengaluru: head-to-head record, key players and more</a><a href="https://www.businessinsider.in/tech/news/indias-pc-market-grows-by-2-6-in-q1-2024-recording-third-consecutive-quarter-with-growth/articleshow/110292150.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-grows-by-2-6-in-q1-2024-recording-third-consecutive-quarter-with-growth/articleshow/110292150.cms" target="_blank">India's PC market grows by 2.6% in Q1 2024, recording third consecutive quarter with growth</a>

Rupee rises 7 paise to 83.24 against US dollar in early trade

IT services major Tata Consultancy Services has entered into a partnership with the <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>n Institute of Technology-Bombay, to develop what it said is India's first <keyword id="21836125" type="General" weightage="20" keywordseo="quantum-diamond-microchip-imager" source="keywords">quantum diamond microchip imager</keyword>. According to a statement from the IT services major on Tuesday, this to-be-developed sensing tool will hold the potential to unlock new levels of precision in the examination of <keyword id="20649044" type="General" weightage="20" keywordseo="semiconductor-chips" source="keywords">semiconductor chips</keyword>, reduce chip failures and improve the energy efficiency of electronic devices. Over the next two years, experts from <keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords" meta.keywordsubtype="org" meta.entityname="TCS" meta.hostid="268" meta.entityid="TCS">TCS</keyword> will work with Dr Kasturi Saha, Associate Professor in the Department of Electrical Engineering of IIT-Bombay to develop the tool. Semiconductor chips are an essential component of all modern electronic devices. These chips act as the brain of devices across industries such as communications, computing, healthcare, military systems, transportation, clean energy, and what not. Professor Saha said, "By working together, we aim to transform various sectors, including electronics and healthcare, and propel India forward through ground-breaking technologies and products aligned with National Quantum Mission's Quantum Sensing and Metrology vertical." Dr Harrick Vin, Chief Technology Officer, TCS, noted that the Second Quantum Revolution is progressing at an unprecedented speed, making it imperative to pool resources and expertise to build cutting-edge capabilities in sensing, computing, and communication technologies. "We firmly believe this initiative will have a transformative impact on various industries and society, with applications ranging from electronics to healthcare, and beyond. By working together, we can drive innovation and create a brighter future for all," said the CTO. National Quantum Mission, an initiative of the central government, aims to position the nation as a global quantum technology leader. As semiconductors continue to shrink in size, traditional sensing methods lack the precision and capabilities to detect anomalies in the chips, TCS asserted. The to-be-developed Quantum Diamond Microchip Imager can image magnetic fields, enabling a non-invasive and non-destructive mapping of semiconductor chips, much like an MRI at a hospital. It uses the defects in a diamond's structure, known as Nitrogen-Vacancy (NV) centers, together with the other hardware and software for detecting and characterizing anomalies in semiconductor chips. The semiconductor industry in India is still in a nascent stage, with various local and multinational companies intending to tap its vast potential. Union Minister for Communications and Electronics and IT, Ashwini Vaishnaw, earlier this year said, that by the end of 2024, India would witness the launch of the first indigenous semiconductor chip. Currently, four semiconductor units -- three in Gujarat and one in Assam -- are in under construction stage. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank">Samsung Galaxy F55 with leather back launched in India starting at ₹26,999</a><a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank">Lenovo LOQ 15 review – gaming laptop with a sturdy design</a>

TCS ties up with IIT Bombay to develop India's first sensing tool for semiconductor chip imaging

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated by 3 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.10 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Tuesday, tracking a positive trend in domestic equities and weakness of the American currency in the overseas market. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> rupee is likely to trade with a positive bias tracking a positive trend in domestic equities and expectations of fresh foreign inflows, however, a recovery in crude oil prices may cap a sharp upside. At the interbank foreign exchange market, the local unit opened at 83.14 and gained further ground to trade at 83.10 against the greenback, registering a gain of 3 paise from its previous closing level. On Monday, the rupee pared its initial gains and settled for the day lower by 3 paise at 83.13 against the US dollar. The opening for the rupee on Tuesday was flattish and the USD/INR pair should move within a narrow range of 83.00 to 83.20, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Importers need to keep buying in dips, as the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords">Reserve Bank of India</keyword> (RBI) may possibly not allow a big move downside for the pair, Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.42, lower by 0.12 per cent. Brent crude futures, the global oil benchmark, advanced 0.24 per cent to USD 83.30 per barrel. Going ahead, "the performance of Indian equities is expected to be a significant driver for the rupee, especially as investors position themselves ahead of the Lok Sabha election results scheduled for June 4," said CR Forex Advisors MD Amit Pabari. Given these factors, the rupee is expected to appreciate to around 82.80-82.50 in the near term, with medium-term projections ranging between 82.20 and 82.00, Pabari added. On the domestic equity market, the 30-share BSE Sensex was trading 124.2 points, or 0.16 per cent higher at 75,514.70 points. The broader NSE Nifty rose 47.95 points or 0.21 per cent to 22,980.40 points in initial trade. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 541.22 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank">Samsung Galaxy F55 with leather back launched in India starting at ₹26,999</a><a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank">Lenovo LOQ 15 review – gaming laptop with a sturdy design</a>

Rupee rises 3 paise to 83.10 against US dollar in early trade

<keyword id="19907060" type="General" weightage="20" keywordseo="Delhi-Capitals" source="keywords" meta.keywordsubtype="org" meta.entityname="Delhi Capitals" meta.hostid="83" meta.entityid="Delhi Capitals">Delhi Capitals</keyword> coach <keyword id="19964285" type="General" weightage="20" keywordseo="Ricky-Ponting" source="keywords">Ricky Ponting</keyword> has labelled <keyword id="19907058" type="General" weightage="20" keywordseo="Rishabh-Pant" source="keywords">Rishabh Pant</keyword>'s roaring comeback to professional cricket after a major car accident as "nothing short of spectacular." The swashbuckling left-hander made 446 runs at an average of 40.54 and a strike-rate of 155.40 while claiming a joint-high 16 dismissals with the gloves during the most recent India Premier League season. "It's been nothing short of spectacular, to be honest. I spent a few months with him in the middle of the IPL last year, which was only sort of three or four months after his accident. And I had grave fears then that he would never play the game again. What he'd been through psychologically, but what he'd been through physically. At that stage, he still couldn't walk," Ponting told The ICC Review. "He was on crutches. And I remember saying to him, what do you think about next season? He just looked at me and said, don't worry, I'll be right. And he's looked after himself incredibly well. The Delhi Capitals franchise has done a great job looking after him. Patrick Farhart has been his physio. He's done a great job with him as well," the former Australia skipper added. While Pant's efforts with the bat were eye-catching, what saw him return to the Indian squad for the ICC Men's <keyword id="19921630" type="General" weightage="20" keywordseo="T20-World-Cup" source="keywords">T20 World Cup</keyword> 2024 was his quality keeping. Ponting admitted that the real concern around Pant was how he would handle the wicket-keeping load. "No one had real concerns about his batting, because of how good he is and how dynamic he is with the bat. But with his wicket-keeping, and having to squat every ball for 14 games in a row, there were certainly some concerns there," Ponting said. Pant finished the league stage of the IPL with 16 dismissals, the joint-most by any wicketkeeper in the season. On the back of his impressive showing behind and in front of the stumps, Pant was named in India's T20 World Cup squad, as predicted by Ponting. "I was asked when I was over there what I thought about him. He'd been picked in the Indian squad, and I basically said he'd be one of the first players picked, and sure enough he was," the Aussie legend said. "So, great to see him back out there playing again. I've enjoyed every moment of working with him. Obviously, he's been the captain of the Delhi Capitals, and I've been the coach there. But it's been a remarkable comeback, and hopefully he has a huge impact on this World Cup," the 49-year-old concluded. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank">Samsung Galaxy F55 with leather back launched in India starting at ₹26,999</a><a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank">Lenovo LOQ 15 review – gaming laptop with a sturdy design</a>

You Searched For "awfis" and got 12 results

Not IT or banking, but pharma leads the demand for employees' return to offices

Vaamanaa Sethi

What the future holds for co-working spaces in India

Samarpita Banerjee

This co-working space achieved profitability in just two years and is now aiming for an IPO

Sanchita Dash

Awfis Remodeled Cars with Printers, Coffee Machines is the Kind of Workplace We Need

Tanya Dubey

This ‘Awfis’ is making sure that employees work every minute of the working hours

Tanya Dubey

Snapdeal is moving its employees to this co-working setup

Tanya Dubey

Five funky co-working spaces that will give you a taste of the Silicon Valley

Nazia Bijal

JioCinema launches new annual ad-free subscription plan at a discount

Sourabh Jain

Rupee rises 7 paise to 83.24 against US dollar in early trade

PTI

TCS ties up with IIT Bombay to develop India's first sensing tool for semiconductor chip imaging

ANI

Rupee rises 3 paise to 83.10 against US dollar in early trade

PTI

Ricky Ponting backs Rishabh Pant to have a huge impact at T20 World Cup

ANI

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