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The Executive Centre (TEC), a Hong Kong-based managed office space provider, has expanded its presence in India by leasing around 90,000 sq ft across Mumbai and Pune. The company plans to set up three new co-working centres, adding over 1,000 workstations. This move comes amid rising demand for flexible workspaces, which now account for a notable share of Grade A office leasing. Industry data shows strong growth in co-working space absorption, while TEC is also preparing to raise up to INR 2,600 crore through an upcoming IPO, indicating its broader growth strategy in India.
The Executive Centre (TEC), a Hong Kong-based provider of managed office spaces, has taken on lease close to 90,000 sq ft in Mumbai and Pune as part of its expansion in India. The company is setting up three new co-working centres across the two cities, adding to its premium workspace portfolio. Advertisement
In Mumbai, TEC is launching two centres with a total capacity of around 620 desks. In Pune, the company has leased about 32,000 sq ft, where it plans to offer nearly 390 workstations. These additions reflect the company’s focus on key urban markets with consistent office space demand.
Managing Director and Chief Executive Officer Paul Salnikoff stated that Mumbai and Pune continue to offer strong growth opportunities, supported by stable demand conditions. He indicated that both cities account for a significant portion of India’s overall office leasing activity. He also highlighted that flexible workspaces are gaining wider acceptance and currently contribute nearly 18 per cent of total Grade A office demand.
He further added that the company remains focused on providing high-quality flexible office solutions that match changing occupier requirements and help businesses scale efficiently.
TEC currently operates in 38 cities across 15 global markets, with India being an important growth region. The company has been steadily expanding its presence in major business hubs, driven by increasing demand from corporates seeking flexible and managed office solutions.
Industry data supports this trend. According to Colliers India, leasing activity by co-working operators saw a sharp rise of 77 per cent during the January–March period compared to the same period last year, increasing from 2.2 million sq ft to 3.9 million sq ft. This growth reflects a broader shift towards flexible work models among companies.
In addition to its expansion plans, Executive Centre India has received approval from the Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering. The company aims to raise up to INR 2,600 crore through the offering, which is expected to support further expansion and strengthen its market position.
Source PTI
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