Hello everyone!, and welcome to the fourth episode of our ARE Kaleidoscope series. We want to start by expressing our gratitude to all our listeners, spectators, and our core target group for their tremendous support and positive feedback on our previous episodes.
In this episode, we focus on Apeejay Business Centre (ABC), a vertical under the Apeejay Surrendra Group that was established 26 years ago. We’re thrilled to have Mr. Rajesh Dwadasi, the country head of ABC, joining us today to share his valuable insights.
Latest Trends in the Co-Working Industry in India
Before we delve into our discussion with Mr. Dwadasi, let’s look at some of the latest trends in the co-working industry in India. Since the pandemic, the demand for flexible workspaces has surged, showing a 27% increase since FY 2020. Freelancers now make up a significant portion of the co-working demographic, contributing around 42% of those working in these environments. This trend underscores the promising future of the co-working sector.
The Indian co-working office spaces market is estimated at USD 1.94 billion in 2024 and is expected to reach USD 2.72 billion by 2029, growing at a CAGR of 7%. Among Indian cities, Bengaluru leads with the highest office demand at 16.0 million square feet, followed by Mumbai, Delhi, Kolkata, Pune, and Hyderabad. These positive trends bode well for the industry and Apeejay Business Centre.
Q: What are the unique selling points, core competencies, features, and facilities of Apeejay Business Centre, and how do you think it differs from competitors and other market groups?
Rajesh Dwadasi: Apeejay Business Centre offers excellent amenities, including well-furnished spaces, a robust HVAC system, high-speed internet, 100% power backup, UPS, beverages, drinking water, top-notch security, and housekeeping services. What sets us apart is our hospitality factor. Our team ensures that clients can focus solely on their productive work time without worrying about anything else. A happy client is our best advertisement, and we see a lot of referrals due to our excellent services and hospitality.
Q: Can you tell us about your key responsibilities and how you manage your day-to-day activities?
Rajesh Dwadasi: My responsibilities include ensuring high occupancy rates, good performance, better revenue, excellent services, and client retention. On a day-to-day basis, I ensure that our team is well-trained and equipped to handle client concerns and challenges. We also organize networking events at our centres quarterly to promote learning and interaction among clients. Ensuring smooth functioning of our centres and maintaining good client relations are crucial aspects of my role.
Q: What are the future expansion plans for Apeejay Business Centre?
Rajesh Dwadasi: Currently, we have centres in Chennai, Hyderabad, Kolkata, Mumbai, and Delhi. In the next two years, we plan to open at least eight new centres, including additional ones in Bengaluru, Hyderabad, Chennai, and NCR, as well as in Mumbai and Kolkata. We are particularly focused on expanding in Bengaluru due to its significance as the Silicon Valley of India.
Q: Are there any new features or services that you plan to introduce in the near future for Apeejay Business Centre?
Rajesh Dwadasi: Based on client feedback, we are considering adding libraries to our centres to encourage reading habits, which are becoming rare. Our new centre in Gurgaon will have this feature, and we hope it will be well-received by our clients.