The coworking market in India is one of the fastest growing in the world as the trend has expanded beyond startups and into the corporate world.
So far, there are over 300 coworking operators across the country, setting up the industry for possible consolidation.
Harsh Binani, cofounder of Smartworks, said that big players like his company will continue to thrive in India. Currently, Smartworks operates 22 centers that total around 2 million square feet and plan to multiply their footprint by ten in the next few years.
Binani said that scaling is key as it ensures profitability in the industry, which hurts the chances of smaller coworking firms to become sustainable.
“There will definitely be consolidation opportunities,” said Binani. “Players of scale will be very limited. Players of scale will likely be the ones who will attract attention from the ecosystem, both customers and investors.
