Simpliwork to invest about Rs 200 crore in Hyderabad
Plans to add about 2.5 million sqft office space including 5,00,000 sqft this financial year
Hyderabad: Simpliwork, which is into offering built-to-suit flex office spaces for large companies, has plans to invest about Rs 180 crore to Rs 200 crore in the Hyderabad market. It plans to add about 5 lakh sqft in this financial year and this will be followed by another 2 million sqft in two to three years, said Kunal Walia, Founder and Chief Executive Officer, Simpliwork.
According to him, the company, which is co-promoted by Salarpuria Sattva groups, has already invested about Rs 250 crore in the Hyderabad market. It has about 1.4 million sqft space in the city, which is about 50 per cent of its 2.9 million sqft total portfolio. Hyderabad apart, it has operations in Bengaluru, NCR region, Pune and Mumbai.
It is present at Kondapur, Hitec City, Financial District and Madhapur in Hyderabad. Its largest flex space is about 6 lakh sqft in Financial District where it has leased about 5,500 seats to one client.
“We have space with Myhome group that we have taken last year. We also have space in the Salarpuria Knowledge City campus as well. We are again managing the office space for one of the biggest financial players of the world, which has selected Hyderabad for its operations,” he said.
On the impact of the pandemic, he said most corporates across the country are unsure of what kind of headcount they will bring back to the office. “Corporates are holding back the capital investments on offices and instead opting for partners like us to meet their office space requirements,” he said, adding that some companies have started looking up for setups to accommodate 1,000 to 2,000 people.
“That is a great sign. In a way, the pandemic worked as a catalyst for the flex office space segment,” he said, adding that there is a clear return to office plan for most corporates. There were no big vacancies among the big companies due to the pandemic.
Global capability centres (GCCs) have been at the forefront of taking large spaces in Hyderabad. “Hyderabad will attract many companies which are looking at having second city operations. Hyderabad is a clear winner for them. I would not be surprised if they come here with 1,500 to 2,500 seat capacities,” he said.
On TS’ plans to give a push to integrated development projects, he said the government is responsive and added, “Several major players will have operations towards Kokapet.”
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