IndiQube sets up 1.5 lakh sq. ft. coworking center in Pune’s Yerwada

Flexible workspace provider IndiQube has set up a coworking center, IndiQube Orchid spread over 1.5 lakh sq ft in Pune’s Yerwada locality. The new co-working hub, spread across six floors in a standalone building, is the company’s eighth property in the city. With this, the company’s portfolio has risen to 10,000 seats across an area of 0.5 million sq ft in Pune alone. IndiQube’s total portfolio has increased to over 70,000 seats in more than coworking 55 centers spanning 3.5 million sq ft across six key cities of India. IndiQube, founded by Rishi Das and Meghna Agarwal in 2015, counts Myntra, Philips, Hitachi NSE -0.07 %, Elanco, Sopra Steria, SOLV, RedBus, Unacademy, Grant Thornton, Enphase, Allegis as some of its key clients. “All our communes are growth-story organelles that provide ergonomic workspaces equipped with our MiQube app. As we have consciously, continuously, and successfully provided scalability and flexibility to our customers, our new commune is another premium addition to our workspaces in Pune. We are very excited to welcome customers and become a part of their growth stories through our workspace solutions,” said Rishi Das, Co-founder, IndiQube. According to estimates, flexible office spaces are expected to grow by an average of around 15-20% per annum over the next three to four years. With the rise of options such as the work-near-home and hybrid model is expected to push the demand and penetration of coworking office spaces across key cities and even tier II locations. Led by the rising demand from larger enterprises, this segment is likely to move towards 5% of total office stock, pushing its total market size to around 51 million sq ft by 2023.