Mumbai, Feb. 6 -- Bengaluru-based flexible workspace operator Simpliwork Offices has leased over 1.5 lakh sq ft of office space in Embassy Manyata Business Park, the company said in a statement on February 4.
Simpliwork Offices' five-year lease rental is over Rs 1 billion. The company will also invest about Rs 400 million in designing and developing the space, it added.
The new space in Embassy Manyata Business Park will cater to two distinct client needs: ready-to-move-in workspaces for businesses seeking immediate occupancy and fully customizable office solutions tailored to specific client requirements. Located in North Bengaluru and spanning over 14 million square feet, Embassy Manyata Business Park is a key business park for commercial activity and a hub for global enterprises.
The company, which is set to close this fiscal year with revenues between Rs 850 million (up from Rs 78 million in the previous year), has consistently demonstrated financial strength. EBITDA margins are anticipated to range between 18.5% and 21% this year, it said in a statement.
The company has a portfolio spanning over 4.2 million square feet in key cities, including Bangalore, Hyderabad, Mumbai, Gurgaon, Noida, Pune, Chennai, and Kolkata. It operates over 85 centres nationwide.
Published by HT Digital Content Services with permission from Construction World.