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Simpliwork Offices invests Rs 40-cr on two centers in Kolkata

Bengaluru-based Simpliwork Offices, partnered by Salarpuria Sattva, has invested Rs 40 crore in two centres – Godrej Waterside and IT Lagoon, spread across over 1.5 lakh sq ft in Kolkata, the company said in a media release.

The company plans to grow by 2.5 times by the end of March 2024 and expects to add another 4 lakh sq ft in the city in the next three years.

Kunal Walia, CEO & founder of the company, said, “Today, several large organizations are exploring office spaces in Kolkata. After experimenting with satellite offices, in particular, flexible office set-ups, during the pandemic, businesses are now looking at implementing them in the long term. We aim to add another 4L sq. ft. to the city in the next 3 years.”

Simpliwork Offices, founded in 2018, serves large corporate entities, with 80% of its lease based on a per-desk model and the remaining 20% based on a per-square-foot model.

It currently has 85+ centres spread over approximately 4.2 million sq ft in India. Simpliwork’s toplines increased roughly 70–72% in 2022, ending in FY23 with 49,000–50,000 desks. According to their business plan for FY24, they aim to expand 2–2.2 million sq ft, which will cost roughly Rs 350 crore in capital.

Over the next year, the company plans to grow its portfolio by about 50%. To go public in the next three to four years, they are also looking into fundraising opportunities.

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BRL Editor
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