New Delhi, Feb 12 (IANS): Avanta India, a co-working service provider, is on an expansion mode with an amount of Rs 200 crore to be invested in leading business districts across major metros.

The metro cities targeted include Mumbai, Bengaluru, Hyderabad and Pune. At present, their expansion business model works on contractual management and long term lease with developers for implementing steady growth.

As part of their expansion plans, Avanta India on Wednesday opened its new business centre in the iconic Connaught Place area of the capital. The business centre, valued at Rs 10 crore and spread around an area of 20,000 sq ft with 280 workstations, is located at Ambadeep building on K.G. Marg.

With the new business centre launch, Avanta India remains the only co-working group with two business centres in Connaught Place. The centres will be providing high-quality office spaces targeted towards SMEs and start-ups. The current occupancy rate of this launched project has already reached a soaring 60 per cent and is expected to scale up to 90 per cent by the end of this financial year.

Sharing his thoughts on the group's expansion plan in metros, Avanta India Managing Director Nakul Mathur said: "The benefits these spaces bring in range from zero capital investment, flexibility and hassle-free allotment. These features are proving attractive for corporates and freelancers."

"The industry has shown tremendous expansion at more than 300 per cent in the last few years and will continue to grow at a faster pace. Operators have to realise that the quality of services provided, will be the differentiating and assessing factor amongst various service providers," he added.