"The total investment in setting up these six centre is around Rs 40 crore. Both the partners are investing," Awfis founder and CEO Amit Ramani told PTI.
He said all these centres will be operational between April and July this year.
Ramani said the company will target not just startups and SMEs but also mid- and large-sized corporations looking to decentralise their workplaces amidst the new normal.
"Our partnership with Prestige Group aligns us to provide world-class amenities and meet the ever-evolving demand of new-age workforce and organisations.
"Over the past few months, we are witnessing large corporates and MNCs turning towards a hybrid model and witnessing the merit in partnering with co-working spaces for the same," Ramani said.
Awfis intends to deepen this partnership further and expand across other micro-markets and buildings, he said.
"This partnership will help us to accelerate our plans to strengthen our office portfolio and increasing our offering to our large clients, while leveraging the strength of Awfis' proven credibility in the co-working space across India," said Juggy Marwaha, CEO, Prestige Office Ventures.
He remained bullish about the growth prospects of the Indian office market.
Of the six centres, four are located in Bengaluru's prime commercial locations, namely Koramangala, Outer Ring Road and two in Whitefield. The other two centres are at Guindy in Chennai and Begumpet in Hyderabad.
With a diverse portfolio across asset classes such as office, residential, retail and hospitality, Prestige Group is well established in Bengaluru, Chennai, Hyderabad, Kochi, Mysore, Mangalore, Goa, Ahmedabad and has now forayed into Mumbai, NCR and Pune.
Prestige Group has completed 112 commercial projects spread across 36 million square feet and is developing 24 projects spread across 42 million square feet in some of the major cities of the country.
In November, Prestige Estates Projects announced sale of large portfolio of office, retail and hotel properties to global investment firm Blackstone for an enterprise value of Rs 9,160 crore.
Awfis currently has 75 centres and 40,000 seats across 11 cities. It is a fully tech-enabled workspace solutions platform.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.