TEC to expand footprint in Hyderabad
Hyderabad: Flexible workspace provider The Executive Centre (TEC), which is expanding its footprint in India is seeing a lot of growth opportunities in Hyderabad because of the growing technology industry. The company has over 150 centres in 32 cities and 14 markets across India, Greater China, Southeast Asia, North Asia, Sri Lanka, Australia, and the […]
Hyderabad: Flexible workspace provider The Executive Centre (TEC), which is expanding its footprint in India is seeing a lot of growth opportunities in Hyderabad because of the growing technology industry.
The company has over 150 centres in 32 cities and 14 markets across India, Greater China, Southeast Asia, North Asia, Sri Lanka, Australia, and the Middle East. It is the third largest serviced office business in Asia with annual turnover of over $237 million. Since 1994, it has built a membership of over 35,000 professionals and has facilitated connection, and personal and professional growth in over 3.1 million sq feet of collaborative workspace.
Manish Khedia, regional managing director, South India, The Executive Centre, told Telangana Today in an exclusive interview, “Hyderabad is one of our key markets. We have two centres with 65,000 sq ft with over 700 work desks in HITEC City. We are now looking at further expansion in 2022. The city has always been positioned as the fastest growing cities. The real estate market has seen consistent growth since 2019 with several tech parks coming up. Telangana government has been facilitating single-window clearance for new projects, which makes the city a preferred location for anyone looking at a base in India.”
He further added, “We today have presence in all the major eight cities of India with over 10,000 work desks. Last 18 months had been challenging for the industry but the recovery is fast. TEC has incorporated a lot of things that differentiated its offerings and strategise/prioritise solutions to suit client portfolio and needs. All the companies now want flexible spaces as part of their real estate, and we are geared up to meet the evolving needs.”
Growth strategy
Owing to Covid, several new models are emerging in real estate. Hybrid models are evolving, and TEC is open to integrate solutions if there is demand from clients. The company also has several differentiating features such as flexible floors (which can be changed in 48 hours that change the entire look), optimisation of desks on real-time basis and online booking of meeting rooms as and when needed.
The company today serves clients such as Salesforce, Poly, Facebook, Google, OpenText, AstraZeneca, Gartner, and Netflix besides many other companies.
Khedia added, “We have been growing consistently. We have set up three centres in 2020. We have been setting up 6-7 centres every year between 2017 and 2019. With recovery in the market, we will be setting up 7-8 centres in 2022 and onwards. Most of the new centres will come up in tier-1 cities and about 10 per cent may come up in tier-2 markets as well. We have committed Rs 100 crore investment in 2020. We are working with the new investors – KKR and TIGA Investments to plan further investments to enable growth in the coming years.”
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