Company demand for flexible workspaces will peak in 2024. In the first half of 2023, 106,554 seats have been rented, compared to 155,000 for the year. Leasing is growing rapidly due to economic development, changing work dynamics, and the necessity for cost management.

WeWork India leased 140,000 square feet of office space in Bengaluru and Noida to accommodate flexible workspace demand. Their portfolio will grow by 2,400 seats with these additional offices opening between September and October.

In FY23, the demand for coworking spaces surpassed all previous records, with India's IT hubs leading the pack. Latest real estate data shows that leasing of "flex-seats" has increased by 20%, with the biggest activity occurring in Bengaluru, Hyderabad, and Pune.

IT services company Persistent Systems has rented almost 2000 seats from Smartworks, a supplier of flexible office spaces as per news from the Indian co-working sector.

Managed office provider DevX has launched a 30,000-square-feet co-working space in Andheri East, Mumbai

On December 5, 2022, 315Work Avenue, a leading new-generation supplier, leased 400 desks to Jupiter, a leading digital banking platform, in Bangalore.

315Work Avenue, one of the fastest-growing and premier coworking space providers, has secured a contract with TeamLease, one of India's biggest human resource companies, for 1,400 seats over 70,000 square feet.