WeWork India Ropes In Janak Malkani To Lead Managed Office Biz Expansion

SUMMARY

WeWork India has appointed Janak Malkani as the head of managed office for India and sales lead for the West region

Malkani brings 24 years of experience in the Indian real estate industry, having previously served as Executive Director at CBRE Asia Pacific

The appointment comes just weeks after WeWork Inc's exit from the Indian co-working space, which was approved by the Competition Commission of India

Coworking major WeWork India has roped in Janak Malkani as the head of managed office for the country and sales lead for the West region.

The appointment comes just weeks after the Competition Commission of India (CCI) has cleared all decks for the exit of WeWork Inc from its Indian unit.

With an experience of 24 years in the Indian real estate industry, having most recently served as executive director at CBRE Asia Pacific, Malkani’s appointment is aimed at strengthening WeWork India’s managed office offerings and driving growth in the sector, ET reported.

WeWork India CEO Karan Virwani said, “With Janak’s extensive experience and proven track record, we are poised to lead the industry in delivering efficient workspace solutions.”

It is pertinent to note that WeWork India operates independently from WeWork Inc, which filed for Chapter 11 bankruptcy in the US last November. WeWork India, operated by the Embassy Group, has managed to maintain robust growth, with its revenue surging 67.6% to INR 1,314 Cr in FY23.

WeWork India continues to expand its presence across the country. Recently, the company entered the Chennai market with the launch of ‘Olympia Cyberspace’ facility, marking its presence in eight major Indian cities.

The company has a portfolio of over 6.5 million sq. ft across 44 locations in Delhi-NCR, Mumbai, Bengaluru, Pune, and Hyderabad.

The Indian coworking space market is experiencing significant growth. The market is projected to reach $1.94 Bn in 2024 and grow to $2.72 Bn by 2029, with a CAGR of 7% during the forecast period.

The company competes with other major players in the Indian coworking market, including 91Springboard, Awfis, The Hive, and Mumbai Coworking.