Enzyme Office Spaces Rents Out 14,000 Sq Ft to SUGAR Cosmetics in Mumbai

Enzyme Office Spaces has rented out 14,000 square feet of managed workspaces in Mumbai to SUGAR Cosmetics, a leading beauty and personal care brand. The leased space, located in Andheri East, will house approximately 300 desks, providing a flexible working environment for the growing team at SUGAR Cosmetics.

Enzyme Office Spaces, known for offering managed office solutions across major Indian cities, currently operates 32 centres. The company has a significant portfolio of 1.4 million square feet of office space with a seating capacity of around 35,000 desks. With a presence in Bengaluru, Mumbai, Hyderabad, and Delhi-NCR, Enzyme Office Spaces continues to expand its footprint in the coworking space sector, addressing the increasing demand for flexible and scalable office solutions.

The newly leased space in Andheri East was initially taken on lease from House of Hiranandani, which Enzyme Office had intended to use for its own coworking centre. However, following an agreement, the space has been rented out to SUGAR Cosmetics. This partnership highlights Enzyme Office’s commitment to catering to the growing need for managed office spaces, which offer flexibility and scalability for businesses of various sizes.

Ashish Agarwal, Founder and CEO of Enzyme Office Spaces, shared that this lease agreement with SUGAR Cosmetics is a testament to the company's role in India's co-working and managed office landscape. He emphasized the growing demand for flexible office spaces across major cities and highlighted the company’s ability to meet the diverse needs of its clients, especially as more companies opt for shared workspaces.

Nirav Jagad, Chief People Officer at SUGAR Cosmetics, explained that the company chose this location for its strategic advantages. The Andheri East area is well-connected, offering easy accessibility for both employees and visitors. As part of their strategic expansion, SUGAR Cosmetics has committed to a five-year lease for the space, signaling their confidence in the location and the flexibility of the coworking arrangement.

This deal also reflects the broader trend in the Indian office leasing market. Flexible office space operators have seen significant growth, with a portfolio of 67 million square feet of prime office space. Real estate consultancy Vestian forecasts that this number will exceed 100 million square feet by the end of 2026. Furthermore, according to Anarock, a real estate consulting firm, the coworking segment accounted for 15% of gross office leasing across the top seven cities in India in 2019. This share grew to over 25% in 2023, though it has slightly declined to over 21% in 2024. This shift underscores the growing prominence of coworking spaces in the Indian commercial real estate sector.

The demand for coworking spaces has surged as companies increasingly seek flexibility in their office arrangements. Many businesses, especially startups and mid-sized companies, have embraced this model as it offers cost-effective, scalable, and well-equipped solutions for modern workplaces. This trend is further supported by the rise of hybrid work models, where employees split their time between the office and remote work.

Enzyme Office Spaces’ expansion into managed office solutions is in line with the growing demand for coworking spaces in key urban centres. By offering tailored office solutions that cater to different business needs, Enzyme Office is positioning itself as a leader in the sector. As the demand for flexible office spaces continues to rise, partnerships like the one with SUGAR Cosmetics reflect the changing landscape of workspaces in India.

Image source-enzymefo.com