Managed Office Space Provider Skootr Aims to Add 5 Million Sq Ft Portfolio by FY28

Managed office space provider Skootr has recently announced its expansion strategy, aiming to augment its portfolio by adding 5 million square feet (msf) of new inventory by the fiscal year 2028. The company aims to make an investment of Rs 1,000 crore, for broadening its presence across key micro markets in India.

The announcement follows closely on the heels of Skootr's recent launch of its premium flexible workspace, 'Skootr Palace Park', sprawled over an 1.03 lakh sq ft area in sector 129 along the bustling Noida-Greater Noida Expressway.

Anuj Saxena, co-founder of Skootr, emphasized the company's determination to expand its footprint in Pune, Chennai, and Mumbai micro markets within the current fiscal year. He outlined the comprehensive expansion plan, revealing that around 1 msf of office space will be introduced in the financial year 2024-25, with a tentative investment of Rs 150 crore. Bengaluru is slated to witness the largest share of this expansion, with approximately 2 msf allocated, while Delhi NCR and Hyderabad micro-markets will each witness the development of around 1 msf. The remaining 1 msf will be strategically distributed across emerging markets such as Mumbai, Pune, and Chennai.

Established in 2016, Skootr has experienced rapid growth, currently operating 15 centres across major cities including Delhi, Noida, Gurugram, Jaipur, Hyderabad, Chennai, and Bengaluru. Notable clients of the company include prestigious names like BMW, IKEA, Pinnacle, American Express, Macquarie & Expedia, and The Economist.

The recent lease of over 100,000 sq ft of premium office space on the Noida-Greater Noida Expressway further solidifies Skootr's stronghold in the region. Situated within the centrally located Max Square in sector 129, Skootr Palace Park boasts a commendable capacity of 1,586 seats, effectively catering to the evolving needs of modern businesses.

Saxena underscored the strategic significance of the Noida-Greater Noida Expressway, highlighting its allure to large enterprises and business houses. He reiterated the company's unwavering commitment to providing a productive and premium office environment, particularly amidst Corporate India's resurgence in physical office spaces.

With the addition of Skootr Palace Park, Skootr now boasts a total of 80 offices spread across 20 premium properties in India, managing a substantial built-up portfolio of 3.5 msf of office space across all business verticals.

This ambitious expansion move highlights Skootr's vision to adeptly cater to the evolving needs of businesses across diverse industries.