CorporatEdge starts new serviced office centre in Delhi with Rs 10 cr investment

Monaah M Shuklla

Corporatedge starts new serviced office centre in Delhi with Rs 10 cr investment

Corporatedge, which provides premium serviced office space, has opened its fourth centre, comprising over 200 seats, in central Delhi at a cost of Rs 10 crore and plans to invest an additional Rs 60 crore for business expansion in India and overseas, a top company official said.

Corporatedge has taken on lease about 25,000 sq ft of office space at KG Marg here to set up its new centre. This is the company’s fourth centre, with three already operational in Gurugram.

“We have started a new centre in the heart of Delhi.Now we have four centres which are operational with total capacity of more than 800 seats spread over one lakh sq ft area,” Corporatedge Founder and CEO Mona Shukla said.

She said the company has invested about Rs 40 crore in setting up these four centres. The investment has been funded mainly through internal accruals. In 2017, it did raise Rs 15 crore from SIDBI Venture Capital Fund.

The company charges anywhere between Rs 22,000 to Rs 50,000 per seat per month.

On expansion plan, Shukla said the company would soon be opening its fifth centre in Bengaluru with a seating capacity of over 400 seats.

“Our roadmap is to open centres in Chennai, Pune, Hyderabad, Mumbai and Dubai over the next three years which will require an investment of Rs 60 crore”.

Elaborating on the Delhi’s centre, she said this facility is ideal for MNC’s, SME’s, project offices, liasion offices, BFSI, defence and legal Counsels since its very close to all Central, state government offices, High court and Supreme Court.

Corporatedge, which was formed in 2012, is a leading provider of premium serviced office infrastructure. The company opened its first centre in 2013 at DLF Epitome, Cyber City, Gurugram and then opened two more centres in DLF’s buildings in this IT city.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


Source: Business Standard

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