NEW DELHI: The Executive Centre (TEC), a workspace provider, has achieved revenue of USD 315 million (Rs 2,603 crore) representing a 11.2% year-on-year growth, globally. TEC Global EBITDA increased 12% year-on-year to USD 56 million.
The total adjusted EBITDA for 2023 was USD 19 million (Rs 159 crore) for TEC India. It delivered 31% growth in revenue over last year and contributed 26% to the overall adjusted EBITDA. TEC India achieved a 35% growth in EBITDA over last year.
Paul Salnikow, TEC Founder and CEO, of the company said, “India continues to be one of the biggest and fastest-growing markets for us with 35% growth in EBITDA over last year.”
TEC India aims to achieve 10-15% year-on-year growth in revenue in FY 2024-25.
In 2023, TEC added 26 new centres globally. TEC India opened eight new centres in 2023. Average occupancy of the company’s flexible workspaces stood at 92%.
