Simpliwork Offices invests Rs 40 crore on two centers in Kolkata

NEW DELHI: 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 aims to grow by 2.5 times by the end of March 2024 and expects to add another 4 lakh sq ft in the next three years in the city.

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.”

Founded in 2018, Simpliwork Offices caters to large corporates with 80 per cent of its leasing following a per-desk model and the remaining 20 per cent a per-sq ft model.

At present, it has 85+ centres spread across 4.2 million sq. ft. in India. In 2022, Simpliwork grew its toplines by about 70-72%, and will close FY23 with around 49,000-50,000 desks. Their business plan for FY24 is to add about 2 – 2.2 million sq ft of space, which will involve a capital expenditure of about Rs 350 crore.

The company is targeting around a 50% increase in their portfolio over the coming year. They are also exploring fundraising options, with the aim to go public in the next 3-4 years.