New Delhi
Hong Kong-based The Executive Centre (TEC), a leading provider of flexible office spaces, will investRs.125 crore to expand its operations in India by opening eight new centres. This decision comes in response to a strong demand for flexible workspaces on Wednesday.
In 2023, TEC reported a 31% increase in revenue in India, reachingRs.475 crore, primarily due to expansion in the market. The company currently operates over 220 centres across 36 cities and 16 countries, with a significant footprint in India, offering approximately 1.3 million square feet of workspace and around 12,500 desks at 50 locations.
Paul Salnikow, Founder and CEO of TEC, stated that India is one of the company’s largest and fastest-growing markets, with increasing demand driven by the changing needs of the modern workforce. Key sectors contributing to this growth include IT, banking and financial services, and startups, along with an influx of Global Capability Centres (GCCs).
Rajat Kapur, Managing Director for North India, UAE, and Saudi Arabia, outlined plans for new centres in Chennai, Hyderabad, Mumbai, Bengaluru, Gurugram, and New Delhi. The investment will include overRs.47 crore in the South, aroundRs.33 crore in Mumbai, andRs.42 crore in North India.
Globally, TEC achieved record revenues of USD 315 million (₹2,603 crore), with India’s operations contributing 26% to the global adjusted EBITDA.
