Foodpanda: Foodpanda to take 2 lakh sq ft in Delhi in largest flexi deal


BENGALURU:In the largest flexible office transaction in the country, food delivery startup Foodpanda is expected to sign up two lakh sq ft of co-working space in Delhi. Foodpanda chose flexible space to reduce realty costs and technology, while also getting a personalised workspace that facilitates the growth of the venture.

“In the first phase, Foodpanda has taken 2,000 seats in GoWork’s 108 Udyog Vihar, Gurugram campus under the ‘built to suit’ enterprise format, with an option to expand it to 4,000 seats,” said Sudeep Singh, chief evangelist and CEO of GoWork.

Foodpanda, looking to increase its market share in the food delivery segment, plans to use the space to seat its call centre, rider care and chat divisions. Food Panda recently claimed that it reached three lakh delivery mark in September on the back of discounts and incentives schemes the firm rolled out. “Foodpanda is one of the most recognized and trusted brands in the food-tech startup eco-system, and having it onboard as a client gives a robust boost to our brand’s value proposition,” Singh said.

Last year, Ola acquired Foodpanda’s business from its parent company DeliveryHero in exchange of Ola’s stocks. Ola has committed to invest $200 million into Foodpanda last year as part of its expansions strategy. The company recently added 13 newer cities to its network and plans to hire 125,000 delivery riders in the next two months to ensure seamless delivery experience.

The Foodpanda and GoWork deal was brokered by cofounder of Dhara Realtech Manish Beniwal. Foodpanda did not respond to an email seeking comments for the story. Many startups have moved to co-working spaces due to lower costs and flexibility. According to industry estimates, about a million sft was occupied by co-working operators across major markets in the country. With office rents continuing to move up across India, the total space leased by coworking operators in tier-1 and tier-2 cities could touch 6-10 million sq ft by 2020, according to CBRE.

Foodpanda has taken 2,000 seats in GoWork’s 108 Udyog Vihar, Gurugram.

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