Next57 aims to be the biggest branded managed office space provider in Tier-II cities

Chandigarh-based Next57 is planning to add 57 co-working centres in total by the end of three years. It aims to be the biggest branded managed office space provider in Tier-II cities.

Prashant Sharma, Co-Founders of Next57, said, “We believe there is a huge potential for coworking space in Tier-II cities, and no one is actually focusing on this. The market is already saturated for major cities, and so a lot of startups are looking to expand their operations into newer markets.”

Currently, Next57 is present in four locations in India, including Chandigarh, Mohali, Ahmedabad, and Kochi, with over 1,000 seats.

The Chandigarh-based startup is targeting to solve the problem of managed office spaces for the Tier-II and III markets in the country. 

“Currently, the team charges anywhere between Rs 900 and Rs 1,000 for a seat per month, and is making revenues of Rs 50 lakh per month. They are adding one location in every three months, further adding Rs 8 lakh to Rs 10 lakh revenue to the company every year,” Prashant stated.