Accenture - Latest News Update, Information, Photos & Videos on Accenture at Lokmat Times

Negative demand created by the work-from-home culture along with reduction in fresh leasing activities due to a weaker economy can easily shave 40 per cent off annual demand over the next few years, according to India Ratings and Research (Ind-Ra).The agency said this can result in over 500 basis points increase in vacancy levels over FY21 to FY23. "The impact on upcoming office space providers is likely to be particularly sharp as these may struggle to let out their upcoming properties."Nearly 83 per cent of employees surveyed recently by Accenture favoured a hybrid work model with the ability to work remotely 25 to 75 per cent of time.Ind-Ra said such a transition to working remotely can seriously hamper office real estate demand as it may allow companies to use a hot desking policy where the same desk may be shared by a number of employees who report to work on different days.If 2.5 per cent of overall employees are asked to report to work on alternate days and use the hot desking policy, it may result in a net 1.25 per cent reduction in office space required in a country.On a base of 635 million square feet of office space occupied in top eight cities of India at FYE20, said Ind-Ra, it will result in a negative demand of 7.9 million square feet which is 21 per cent of the average annual demand seen during FY19 to FY20."A larger impact of hot desking might shave off several years' of demand in the short run and create significant hardships for office real estate providers."Besides, a number of international companies have announced hybrid work models where the employees will need to report to office only on a few days of the week. Ind-ra said it can be easy to infer that the space that may be subject to hot desking model may be a lot more than 2.5 per cent as envisaged.Ind-Ra said occupancy at a large real estate investment trust (REIT) focusing on office portfolio declined to 86.8 per cent in 4Q FY21 from 92.2 per cent in 1Q FY21.Occupancy at another listed REIT declined to 81.8 per cent in 4Q FY21 from 87.1 per cent in 2Q FY21. Occupancies at other listed REITs and companies also declined by around 500 basis points over the last four quarters, said Ind-Ra.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

AccentureFOLLOW

Accenture, Latest News

Symbiosis Institute of Business Management- Bengaluru,(SIBM Bengaluru) believes in continuously evolving its methods to improve the teaching, learning, and evaluation processes. ...

Aurangabad, Nov 25: Maharashtra Institute of Technology, Aurangabad (Autonomous) felicitated the students who were recently placed and secured jobs ... ...

New Delhi, Nov 3 Four in five organisations believe that staying ahead of cyber criminals is a constant ... ...

Bengaluru, Oct 12 Global professional services company Accenture on Tuesday announced to acquire BRIDGEi2i, a Bengaluru-headquartered artificial intelligence ... ...

The Future Right Skills Network, a collaborative effort by Accenture, Cisco and J.P. Morgan, and facilitated by the non-profit Quest Alliance has announced the expansion of its partnership with the Directorate General of Training (DGT) under the aegi ...

Bengaluru, June 15 Global professional services company Accenture will acquire umlaut, an engineering consulting and services firm headquartered ... ...

Bengaluru, June 15 Software major Accenture is acquiring umlaut, an engineering consulting and services firm headquartered in Germany, for ... ...

Negative demand created by the work-from-home culture along with reduction in fresh leasing activities due to a weaker economy can easily shave 40 per cent off annual demand over the next few years, according to India Ratings and Research (Ind-Ra). ...