The Executive Centre plans to invest Rs 180 crore in Q1 2025, to expand its portfolio
Agencies
Synopsis
The Executive Centre plans to expand its presence in Mumbai, Pune, and Bengaluru, driven by significant growth in office leasing. TEC announced an investment of Rs 125 crore for new centres, while flexible workspace demand sees a notable increase, especially in IT and BFSI sectors.
By Sobia Khan, ET Bureau
Last Updated:
The Executive Centre (TEC), one of the largest flexible workspace providers, plans to expand its presence in India. As part of its strategic expansion plan, TEC aims to invest over Rs 180 crore in the first quarter of CY 2025 to establish new centers in Mumbai, Pune, and Bengaluru.
In Mumbai, the company plans to set up a new centre spanning 1.3 lakh square feet within the Prestige 101 complex in BKC. In Pune it is setting up 51,975 square feet at Mapletree in Kharadi and in Bengaluru, TEC will have 55,844 square feet of space at Helios Business Park on Outer Ring Road.
“India remains one of the largest and fastest-growing markets for TEC. Our substantial investment in new centres across Mumbai, Bengaluru, and Pune reflects our strong confidence in the Indian market and our commitment to offering flexible, premium workspace solutions,” said Manish Khedia, Managing Director, West India, South India & Sri Lanka, The Executive Centre.
TEC currently operates in 16 markets and 36 cities, serving a global community of over 51,000 members. In October 2024, TEC announced an investment of Rs 125 crore to establish eight additional centres across Chennai, Hyderabad, Mumbai, Bengaluru, Gurgaon, and New Delhi.
“The demand is fueled by strong leasing demand from Global Capability Centres (GCCs), flexible workspace providers, and BFSI firms with many Multinational corporations increasingly consolidating and growing their back-office and R&D operations, reinforcing India’s role as a strategic hub in global real estate planning. Now major cities like Bengaluru, Mumbai, Hyderabad and Delhi-NCR are seeing a significant surge in pre-leasing by large flexible managed office space providers as they look yk expand their operations,” said Sankey Prasad, chairman and managing director, Middle East & India, Colliers.
In 2024, the annual leasing of flexible workspaces surpassed the 10 million square feet mark for the first time, totalling to a Grade A space absorption of 12.5 million sq ft, a 45% y-o-y increase, with Delhi-NCR and Bengaluru together accounting for over 50% of total flexible space leasing during this period, said Colliers.
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This investment will add more than 2.38 lakh sq ft of office space to TEC India's portfolio. The expansion is driven by strong growth in office leasing, fueled by both domestic and international demand.In Mumbai, the company plans to set up a new centre spanning 1.3 lakh square feet within the Prestige 101 complex in BKC. In Pune it is setting up 51,975 square feet at Mapletree in Kharadi and in Bengaluru, TEC will have 55,844 square feet of space at Helios Business Park on Outer Ring Road.
“India remains one of the largest and fastest-growing markets for TEC. Our substantial investment in new centres across Mumbai, Bengaluru, and Pune reflects our strong confidence in the Indian market and our commitment to offering flexible, premium workspace solutions,” said Manish Khedia, Managing Director, West India, South India & Sri Lanka, The Executive Centre.
TEC currently operates in 16 markets and 36 cities, serving a global community of over 51,000 members. In October 2024, TEC announced an investment of Rs 125 crore to establish eight additional centres across Chennai, Hyderabad, Mumbai, Bengaluru, Gurgaon, and New Delhi.
“The demand is fueled by strong leasing demand from Global Capability Centres (GCCs), flexible workspace providers, and BFSI firms with many Multinational corporations increasingly consolidating and growing their back-office and R&D operations, reinforcing India’s role as a strategic hub in global real estate planning. Now major cities like Bengaluru, Mumbai, Hyderabad and Delhi-NCR are seeing a significant surge in pre-leasing by large flexible managed office space providers as they look yk expand their operations,” said Sankey Prasad, chairman and managing director, Middle East & India, Colliers.
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In 2024, the annual leasing of flexible workspaces surpassed the 10 million square feet mark for the first time, totalling to a Grade A space absorption of 12.5 million sq ft, a 45% y-o-y increase, with Delhi-NCR and Bengaluru together accounting for over 50% of total flexible space leasing during this period, said Colliers.
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( Originally published on Mar 10, 2025 )
