Skootr plans to double portfolio to 10 lakh sq ft in Hyderabad with Rs 75 crore investment
Skootr offers ‘workspace-as-a -service’ wherein enterprises get customised flexible office space without locking up funds in the capital expenditure.
Hyderabad: Managed office space’ provider Skootr said it will invest about Rs 75 crore in Hyderabad in strengthening its portfolio. It currently leased about 5,00,000 sq ft in the city and plans to double it in a year. It has already invested about Rs 75 crore in the city, said Puneet Chandra, Director and Co-Founder, Skootr.
Skootr offers ‘workspace-as-a -service’ wherein enterprises get customised flexible office space without locking up funds in the capital expenditure. White it manages about 10 lakh sq ft in multiple cities including Delhi, Gurugram and Jaipur, Hyderabad and Bengaluru. Of that, 50 per cent of it is in Hyderabad.
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Skootr this week has seen Darwinbox, the unicorn HR technology player from the city, inaugurating its headquarters in 75,000 sqft at Skootr Forest. It will accommodate 1,000 people.
“We are focusing on large clients with a space requirement of about two lakh and we are in discussions with about four players,” he said. Skootr takes bare shell buildings from real estate developers. It invests Rs 2,500 to Rs 3,000 per sq ft to mould the office space as per the client requirements. It currently caters to clients from technology, BFIS, manufacturing, and other segments.
Hyderabad has seen a healthy growth in office space in the last few years due to various policy initiatives, widening customer base and increasing corporate requirements. These have triggered growth in the managed workspace as well, he said.
“Real estate occupiers are looking out to design flexible office spaces with a mix of private and open spaces. Return to office continued to pick up momentum in the third quarter across sectors and clients are seeking workspaces that give a premium experience to their employees,” he said, adding that demand for managed office space will rise as more people return to work from the campuses.
The demand for bespoke structures and facilities is on the rise, he said, citing Darwinbox, which chose a workspace that lacks walls but has collaborative spaces, breakout zones, wellness rooms and food and beverage services. “We expect the organisations will continue to adopt flexible spaces. This will help them to embrace hybrid working arrangements and remain agile in their real estate strategies,” he said.
The office rents range from Rs 70-75 per sq ft, up from Rs 60-65 per sq ft a few quarters ago. “The falling rupee is helping many MNCs expand in Indian cities. They are getting more rupees per dollar they are spending than before and as a result it is beneficial for them to expand now,” he said.
