Tata Sky broadband signs on-demand enterprise deal with WeWork

WeWork, the flexible workspace provider has signed a long term deal for its on-demand enterprise service with the broadcast satellite service provider Tata Sky Broadband. The deal will provide Tata Sky Broadband the option to work out of any WeWork locations for its 250 employees, starting May 2021.

This deal serves as a positive reinforcement back to growth for workspace providers post-COVID-19 and demonstrates the steadily rising demand of flexible workspaces amongst enterprises, in-line also with WeWork’s growth trajectory of enterprises forming over 60% of its member base.

“WeWork has always prioritised meeting the diverse and ever changing needs of its members with its multiple flexible workspace offerings. In the current scenario as businesses are recovering from the impact of the global pandemic, flexible options will be the workspaces of choice for all businesses, especially enterprises.”Santosh Martin, Head of Sales, WeWork India, said.

WeWork’s on-demand enterprise service comprises a personalised microsite, accessible only to Tata Sky Broadband’s employees and allows them to seamlessly book workspace, conference rooms, parking and other amenities, thereby making flexible and collaborative workspace experiences more accessible.

“We are an essential service and during the pandemic, we saw a rise in consumption & demands from our service teams. We are committed to provide seamless connectivity and quick service responses, despite the pandemic. Almost 70-80% of our employees are based out of different cities and it was critical for us to provide them with safe and efficient work environments, post pandemic, ” Amit Rai, Head – HR, Tata Sky Broadband, said,

WeWork has seen a 10% uptick in enterprise demand since the lockdown. Enterprise members are now more than 60% of WeWork India’s member base and the rest 40% are a mix of Startups, SMB’s and Freelancers.

In line with its long term growth strategy and aim for profitability, the flexible workspaces operator has recorded the highest ever quarterly sales with 10,000 desks totalling to 7 lak sft sold in the Jan-March period.

The firm has also raised additional Rs 200 cr to fuel its growth from both domestic and international investors. In 2019, US-based office space provider WeWork Global bought 25% stake in WeWork India, a fully-owned subsidiary of Bengaluru-based estate developer EmbassyGroup, for $100 million as the company looks to scale up India operations over the next 36 months.

WeWork entered into a partnership with Embassy Group in 2017 and started operations in the Indian market. WeWork India currently has 60,000 desks, 40,000 members across 35 locations in 6 cities.

As per, Colliers International, during 2021, flexible workspace operators are likely to lease about 3 million square feet of space across the top six Indian cities, as operators are likely to focus on signing large enterprise-level deals and cut down on speculative centers. During 2020, flexible workspace operators leased about 2.9 million square feet of space led by technology, and banking and financial services (BFSI) enterprises.