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91springboard signs one of the biggest flexible office deals of 2020 in Bengaluru with ITILITE

91springboard signs one of the biggest flexible office deals of 2020 in Bengaluru with ITILITE

Facilitated exclusively by JLL India, 91springboard on-boards ITILITE Technologies, a digital travel & expense SaaS company for 400+ seats

Bengaluru, Dec 01 2020: 91springboard, India’s leading office space operator with over 25 flexi-office locations across the country will provide office space at one of its Bengaluru hubs to ITILITE, a digital travel & expense SaaS company. The deal was facilitated by JLL, India’s  largest real estate consultancy firm, and strengthens the belief that flexible office spaces are gaining immense popularity as lockdown restrictions ease out. According to JLL, the country’s flexible space market is expected to cross 50 million sq. ft. by 2023, and at present, Bengaluru and Delhi NCR together account for more than 50% of the flex space stock in India, with Bengaluru housing around 10.6 mn sq. ft. of such spaces.

ITILITE Technologies will be setting up operations at 91springboard’s flexible office space in Indiranagar which has a total seating capacity of 800, safely spread across three floors. The tech firm will use this space as its headquarters with more than 300 employees joining in a phased manner until April 2021.

Speaking about the collaboration Anand Vemuri, CEO, 91springboard said, “We are extremely elated to on-board ITILITE as one of our members in Bengaluru. It is one of the biggest flexi-office deals in Bengaluru this year and has been made possible by JLL India.”

He added, “We have witnessed 5X increase in enquiries since June 2020 when the pandemic was at its peak. Many companies, be it large or small, are exploring flexible office spaces options owing to the volatile environment across the globe. Companies want to remain agile and quickly adapt to market conditions and our plans offer them the opportunity to do so with ease.”

Anish Khadiya, Chief Business Officer, ITILITE said, “We have continued to grow at an exponential rate despite market conditions and need partners like 91springboard who can keep up with our speed and deliver on our ever-evolving needs. Their office spaces offer highest levels of health and safety, and are flexible and easily accessible, exactly the kind of work environment a world class team needs to perform with ease.”

Rahul Arora, Managing Director (Bengaluru) JLL India said, “The two cities of Bengaluru and NCR together account for more than 50% of India’s flex stock. Current market penetration of flexible workspaces in total office space stands at 3.0%; expected to move to 4.2% by 2023.”

Speaking about the partnership, he added, “We have been partnering with 91springboard for over the past few years and it gives us immense pleasure to have strengthened that association with 91springboard with this assignment. The lockdown has highlighted the important role played by office spaces especially in the knowledge economy. As corporates return to the workplace, they are likely to further leverage flexible space to reduce capital expenditure and create cost savings, while allowing for split teams and de-densification requirements.”

91springboard is one of the pioneers in the flexible office segment and has been offering customized business solutions with flexibility across payments, seats and overall offerings. This deal is proof that flexible office spaces will form an essential part of the future of work. Besides offering office space, 91springboard also provides exclusive offers like strategic partnerships, registered office facilities and access to a Pan India network for business opportunities.

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