EFC Expands Coworking Business in Pune & Noida

New Delhi, May 25 (PTI) Coworking firm EFC (I) Ltd India has taken 3.6-lakh-square-feet office space on lease in Pune and Noida to expand its business.

The company has added 1,10,000 sq ft in Noida, Uttar Pradesh and another 2,50,000 sq ft in Pune, Maharashtra, EFC (I) said in a statement.

The company is set to add close to 10,000 seats across these two locations by September this year.

The Pune-headquartered company currently has a presence in seven states spanning 35+ centres totalling over 15 lakh sq ft area.

The company has expanded its capacity to nearly 50,000 seats at present, as compared to 23,000 seats at the beginning of 2023-24 fiscal.

Nearly 65 per cent of the company's billed seats account for the institutional segment, while the remaining 35 per cent comes from the retail part.

"The Indian economy is on a growth trajectory and the demand for workspaces is growing at a robust pace," said Umesh Sahay, Founder & CEO, EFC (I).

Founded in 2014, the BSE-listed EFC (I) has 35+ centres across seven states -- Maharashtra, Hyderabad, Tamil Nadu, Karnataka, Gujarat, Uttar Pradesh and West Bengal.