SpringHouse, a Delhi-based Co-Working Space plans expansion by year-end

Delhi News

SpringHouse, a Delhi-based co-working firm, recently announced that they are planning expansion by the year-end.

Mukul Pasricha, firm’s founder & CEO informed about opening 8 to 10 centres by December 2019 and the maximum of these centres will be located in the National Capital Region. At present, the company is operating 15 centres all over the NCR.

Pasricha also said that other than the National Capital Region, we are also eyeing at Bengaluru and are planning to open a centre there by September-end this year. The office there is estimated to be 20,000-25,000 sq. ft. space.

Apart from this, the SpringHouse firm is also expecting to raise Rs. 15-16 crore after September 2019. And the CEO said that at present we are bootstrap but will look to raise funds once we begin operations.

The company generated revenue of Rs. 6 crore in FY 2018-19 and is aiming to collect Rs. 12 crore as revenue till December-end.

The company aims to open two centres in Gurugram by June 2019 out of which one will be located in MG-Road over 30,000 sq.ft. and will have a seating capacity of 500. Whereas the second centre will be located in sector 44, Gurugram. This centre will be spread across 10,000 sq. ft. with a seating capacity of 135 seats.

The company has a centre in Sector 16, Noida with a seating capacity of 350. The firm took this 23,500 sq. ft. space from Pioneer House.