iKeva to open 15 CoWorking Centres as part of Business Expansion

Hyderabad News

iKeva the provider of co-working space recently announced that the company has raised sufficient funds from the Meenakshi Group to get the business expansion plan operational. However, the company didn’t give exact figures on the same but informed about opening 15 centres this year as it will boost their back-end processes and technology.

Monika Misra, Co-founder and General Manager, iKeva, shared the news that the freshly raised funds will help them to fasten the business expansion process in the next 12 months as the company is all set to open centers in rapidly growing cities.

At present, the company iKeva own co-working centres in five major metro cities including Bengaluru, Chennai, Gurgaon, Hyderabad and Mumbai. The company is ready to open centers in Hyderabad within three months from now, a statement released by the company said.

According to the report of CBRE, in India, the co-working office industry has witnessed a growth of 23 percent in the past six years. It is also estimated that by 2025, out of the total working space in the country nearly 40 percent of the companies will operate from co-working spaces.

The company’s revenue generation has increased from 40% in the last financial year and they aim to double it means to achieve 80 of the growth.

The Meenakshi Group is ranked amongst India’s leading IT Park developers and has made its presence felt in the real estate, power, highway projects and property management sectors.

In the real estate sector, the Meenakshi group has delivered more than 12 million square feet space while nearly 6 million sq. ft. are under delivery while the company has 6 million in the pipeline.

The working space of iKeva range between 10,000 and15,000 sq. ft. with amenities such as fully furnished coworking spaces, high- speed internet and a team of professionals.