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India's co-working office supply to grow 21-22% CAGR from FY25-27, says ICRA
The Business Guardian
|May 08, 2025
India's co-working or flexible office or supply will increase at a significant Compound annual growth rate (CAGR) of 21-22 per cent during Financial Year (FY) 2025 FY27 and reach 125 million square feet (msf) by March 2027 for the top six cities, according to a report by ICRA.
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Cities such as Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai Metropolitan Region (MMR) and Pune will witness this significant growth, added the report.
The report added that the sector will surpass Rs 600 billion in value by March 2027.
This segment, which has seen one successful initial public offer (IPO) in 2024, is set to witness five major IPOs in the next 12-18 months, which are projected to raise over Rs. 7,000 crore, added the report.
Giving more insight, Anupama Reddy, Vice President and Co-Group Head, Corporate Ratings, ICRA, said, "The flex office supply for top six cities has more than doubled to over 67 msfas of March 2024 from 32 msf as of March 2020."
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