Hanto Workspaces revenue to grow 40% to Rs 30 cr in FY25 on demand

According to Cushman & Wakefield, India's office market was very active in 2024 with gross leasing of workspace witnessing a 19 per cent increase to a record 885.2 lakh square feet across 8 major city

Hanto Workspaces is expecting over 40 per cent increase in revenue this fiscal year to Rs 30 crore on rising demand for flexible managed office space.

Bengaluru-based Hanto Workspaces had posted a revenue of Rs 21 crore in the 2023-24 fiscal year.

"We are likely to post a revenue of around Rs 30 crore during this fiscal year. There is a huge demand for managed flexible workspaces in Bengaluru," Hanto Workspaces Founder Aashit Verma told PTI.

He said the company has expanded its portfolio and also improved occupancy rates, helping it achieve higher revenues.

At present, Verma said the company has 15 co-working facilities in Bengaluru covering 3 lakh square feet area and 6,000 seating capacity.

The company charges between Rs 7,000 and Rs 18,000 per desk from corporate clients.

Verma said the company is looking to strengthen its portfolio in Bengaluru and also exploring to enter other major cities.

He said the company also intends to raise funds to expand business and future growth.

In 2023, Hanto Workspaces had raised Rs 15 crore as seed funding to grow its business.

According to Cushman & Wakefield, India's office market was very active in 2024 with gross leasing of workspace witnessing a 19 per cent increase to a record 885.2 lakh square feet across eight major cities.

Out of the total gross leasing, coworking operators took on rent 14 per cent of workspaces from property owners for further sub-renting to corporates, especially IT firms.

Property consultant Anarock MD-Commercial Leasing and Advisory Peush Jain noted that flexible workspaces have truly come of age in 2024, with a significant increase in demand for flexible lease terms and managed office spaces, as companies seek agility and cost-efficiency.