Offices

The growth was driven by strong leasing activity and robust net absorption, as companies expanded their workforce and office space in major cities

Flexible and managed workspace provider Enzyme Offices looks to double its revenue in the current fiscal to around Rs 150 crore and targets an annual recurring revenue (ARR) of Rs 200 crore by 2026-27, a top company official said on Tuesday. The company aims to double its revenue in the current financial year from the current Rs 75 crore, driven by strong demand from both global capability centres (GCCs) and leading Indian startups, Ashish Agarwal, Founder & CEO of Enzyme Offices said. "Enzyme Offices looks to achieve Rs 200 crore ARR by FY27, supported by a planned Rs 50 crore investment in expanding operations, enhancing infrastructure, and strengthening technology capabilities," Agarwal said. ARR refers to the recurring revenue of a business's contract, normalised for a year. Agarwal said that the company has witnessed remarkable journeys companies starting with just 20-30 seats and scaling to over 600 seats within Enzyme. Vyapar, Teachmint, Dukaan, Avin Systems, and Stellar ..

Sudden shifts between air conditioning and summer heat can harm your health-here's how office-goers can stay protected and energised

Flexible office space providers are bullish on demand for managed workspace during 2025 as corporates look for agile and cost-effective solutions to reduce overheads. Many flexible workspace operators are expected to hit capital markets this year to raise funds for the expansion of their businesses. The overall gross leasing of office spaces across major seven cities hit an all-time high in 2024. The gross leasing of office space rose 19 per cent to a record 885.2 lakh square feet across eight major cities, according to Cushman & Wakefield. Flexible office space operators rented substantial space from real estate developers and property owners for renting out to small, medium and large enterprises. Bengaluru-based operator Simpliwork Offices CEO and Founder Kunal Walia said the company will keep expanding its portfolio across major cities to meet the rising demand for flexible workspaces. "Companies are increasingly seeking agile, cost-effective solutions to adapt to the evolving

India expected to have more than 1,900 such facilities by 2025 and more than 2 mn will be employed there, it says

Maharashtra Day 2024: Every year, Marathi people celebrate Maharashtra Day on May 1 as the state was formed on a linguistic basis. Banks, schools, and offices are to remain closed today

Smart office buildings, which incorporate features such as smart desks, motion sensors, and indoor digital maps, may grow up to 30% in five years

Asian nations did a better job keeping Covid-19 under wraps in the pandemic's first year, so people there didn't get as accustomed to working from home

Mumbai gets lion's share at 48%, followed by NCR (32%), Bengaluru (13%); three-fourth of investments came from Asia even as overall investments in Indian realty dip 20%

The survey pointed out that 56 per cent of the respondents intended to have more than 10% of the total office portfolio as flexible spaces by 2025

A hybrid working model has brought flex spaces to the centre stage and helped occupiers in optimising costs and ensuring employee flexibility, the report said

In a message that was posted on Amazon's blog, chief executive Andy Jassy wrote the decision was taken at a meeting earlier this week and the move would make it easier to learn and collaborate

The process for vacating offices was initiated in December last year, according to reports citing sources

The total leasing of office space for all grades of buildings rose 37 per cent year-on-year in September across seven major cities to 6.3 million square feet on better demand, according to property consultant JLL India. The aggregate office market leasing activities refer to transactions for all grades or types of buildings in the top 7 cities (Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata). The total leasing of office space stood at 4.6 million square feet in September last year and 3.9 million square feet in the previous month, according to JLL India Aggregate Monthly Office Leasing Tracker. The data includes confirmed pre-commitments and term renewals. Deals in the discussion stage are not included. Mumbai, Delhi-NCR and Pune were the top three cities, accounting for three-fourth of all leasing activities in September 2022. The BFSI (Banking, Financial Services and Insurance) sector emerged as the strongest driver of aggregate market activities in September

As per the data, transaction volumes for offices have gone up but the rental levels have also stabilised or grown in YoY and sequential terms across all markets.

Demand fuelled by hybrid work models, digital nomads, post-Covid urban loneliness

Several companies, the report claims, have introduced higher variable pay and employee engagement budgets while cutting down the internet allowance to make employees return to the office

According to the CBRE research, Q3 2022, 73% of workplaces allow for hybrid working, 18% allow for office only and 6% for remote only

Direct investment or co-investing with Indian VC/PE funds in companies is increasingly catching up

Coworking firm Simpliwork Offices on Tuesday said it has taken on lease 1.5 lakh square feet of office space in Chennai from DLF and Mindspace Business Parks REIT to expand business. Bengaluru-based Simpliwork Offices, which provides managed office space to corporates, has taken on lease about 80,000 square feet from DLF and around 70,000 square feet from Mindspace. The demand for managed office space has increased during the COVID pandemic as corporates are looking for flexibility to scale up. The centre in DLF Downtown, Chennai will have more than 1,700 seating capacity and expected to be operational early next year, while the facility at Commerzone, Porur with Mindspace Business Parks REIT is already operational. "The office market in Chennai is known for its resilience. A key market, it accounts for a growing share of India's total Grade A office space stock and demand," Kunal Walia, CEO & Founder of Simpliwork Offices, said. Given its strategic location housing multiple ...