India’s coworking industry has entered a decisive phase. Once celebrated as the poster child of the startup boom—fuelled by venture capital, aggressive expansion, and bold IPO ambitions—the sector is now undergoing a strategic reset. The narrative has shifted from hypergrowth at any cost to operational discipline and profitability.
Just a few years ago, flexible workspace operators were racing to scale across metros and tier-2 cities. High occupancy rates, glossy community branding, and rapid seat additions dominated investor decks. Global turbulence and domestic funding winter, however, exposed structural weaknesses in the model—long-term lease liabilities, high fixed costs, and vulnerabil
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