AltF Coworking, led by founder Yogesh Arora, plans to open 14 co-working centres in FY 2023–24 and an additional 22 in FY 2024–25, investing Rs 10 crore. Seeking $1–2 million in Q1 2024 for property acquisition, the company recently launched a 50,000-square-foot space in Okhla, New Delhi. Expansion targets Hyderabad, Pune, and Delhi NCR, recognizing challenges in tier-II and tier-III cities. Two properties opened in Noida and Gurugram in June 2023, adding to the existing 11 centres with over 5 lakh square feet of workspace and 6,000 desks. AltF's philosophy emphasizes creating optimal workspaces for happiness and efficiency.
AltF Coworking has outlined a strategic vision encompassing the establishment of approximately 14 co-working centres by the conclusion of the financial year 2023–24, followed by a subsequent expansion plan targeting an additional 22 centres by the culmination of the financial year 2024–2025. To underpin this ambitious trajectory, the company is poised to infuse a substantial investment of around Rs 10 crore during the fiscal year 2024–25. Yogesh Arora, one of the co-founders of the enterprise, elucidated the operational approach of the company. He conveyed that the company actively engages in a collaborative partnership with property owners.
In such arrangements, property owners invest in the property, while the company leverages its specialized expertise to manage the marketing and operation of the property as a co-working space. The company intends to persist with this collaborative model for future expansion efforts, with an anticipated investment of approximately Rs 10 crore in the upcoming fiscal year. In order to facilitate these expansive plans, AltF Coworking is strategically positioning itself to secure funds in the range of $1–2 million during the first quarter of 2024. These funds are earmarked for the acquisition of 4–6 properties in the subsequent financial year.
The company has recently unveiled a cutting-edge co-working space in Okhla, New Delhi, spanning an impressive 50,000 square feet and boasting a total capacity of 1500 desks. The rental rate at this premier centre approximates Rs 150 per square foot. The company’s expansion efforts in 2024 will be focused on augmenting their footprint in the Indian market, with specific emphasis on Hyderabad and Pune, while concurrently fortifying their presence in Delhi NCR.
Recognizing the current maturity levels of tier-II and tier-III cities, the company acknowledges the potential challenges associated with aggressive expansion into these markets at this juncture. AltF Coworking achieved significant milestones with the inauguration of two properties in Noida and Gurugram in June 2023. The Noida center spans an impressive 1.5 lakh square feet in Sector 142, accommodating 969 individuals in its initial phase. Simultaneously, the Gurugram center, situated on the first and second floors of the MPD Tower on Golf Course Road, covers 25,380 square feet, including a carpet area of 17,766 square feet. Currently,
AltF Coworking manages 11 centres in the Delhi-NCR region, providing over five lakh square feet of workspace and more than 6,000 desks. At its core, a founder's philosophy propels AltF Coworking to cultivate work environments fostering unparalleled happiness, productivity, and cost-effectiveness, thereby creating an optimal office space conducive to enhanced work efficiency. In essence, AltF endeavors to revolutionize office spaces, tailoring them to meet the unique needs of millennials, start-ups, entrepreneurs, and SMEs. The escalating demand for co-working office spaces across various business scales underscores the industry's burgeoning growth, emphasizing the newfound preference for flexible and adaptable workspaces.
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