Flexo Rides the Flexible Workspace Wave as Demand Surges Across India

According to recent industry data, flexible workspaces accounted for over 12.5 million sq ft of office leasing in 2024, a 44% year-on-year jump. In Mumbai alone, vacancy rates dropped to 11.9% – the lowest in years – driven in part by strong uptake of managed offices and coworking spaces.

“This isn’t just a rebound. It’s a fundamental shift in how companies think about space,” said Vivek Kundnani, Founder and CEO of Flexo. “Businesses today want offices that are fast to set up, easy to scale, and designed around people. Flexibility is no longer a perk. It’s a strategy.”

The post-pandemic era has accelerated the move toward hybrid work and decentralized teams. As a result, companies are rethinking traditional leases in favour of managed office solutions that offer plug-and-play readiness without the burden of capex or long lock-ins.

India’s flex office stock is projected to cross 125 million sq ft by 2027, and more than 14% of all new office leasing is now driven by coworking and managed operators. In Mumbai, Bengaluru, Hyderabad, and Pune, demand is particularly strong among global capability centers (GCCs), scaling startups, and enterprise teams seeking collaborative, high-quality work environments.

Flexo’s rise has coincided with this trend. The Mumbai-based startup blends the on-ground expertise of a traditional property consultant with the DNA of a tech start-up. It helps companies find and implement the right workspace strategies – whether it’s a coworking space in Andheri, a managed office in BKC, or a fully customised corporate headquarters.

“Our edge lies in local intelligence,” said Kundnani. “We don’t just aggregate listings – we understand micro-markets, operator strengths, lease dynamics, and how to match space to a company’s culture and growth plans.”

What sets Flexo apart is its dual approach. The company advises on office leasing across conventional and flexible formats while also operating a discovery platform for coworking and managed offices across major Indian cities. This allows businesses to explore options ranging from fully built offices to warm shell units – all through one partner.

As the workplace continues to evolve, Kundnani believes companies will adopt a more dynamic mix of formats. “The future of work if flexible,” he said. “Leaders are asking: how can our offices adapt to new business realities, attract talent, and still control costs? That’s where Flexo comes in.”

Flexo also plays a strategic advisory role for leading coworking spaces in Mumbai, helping them identify high-potential micro-markets, negotiate leases, and scale their footprint with precision. By leveraging data insights and on-ground intelligence, Flexo supports coworking operators in making expansion decisions that balance demand, occupancy potential, and long-term viability.

With a strong base in Mumbai and growing reach across India, Flexo is carving out a niche in the flexible workspace economy – one that is increasingly shaping the future of commercial real estate in India.