Skootr, as is already widely reported, offers 'workspace-as-a-service' wherein enterprises take office spaces on lease. Skootr Global has plans to invest upwards of Rs 75 crore in Hyderabad to double its office space under management. Currently, it has about 3.5 lakh sqft and is looking to sign up for a similar amount of space this year.

"Our current portfolio is about 3.5 lakh sq ft across three projects in Hyderabad. These centers are new, but the occupancy has already touched about 75 percent. We are bullish on Hyderabad and are looking to add another 3.5 lakh sq ft this year. We have initiated discussions on this front. This will take our total management space to 7 lakh sqft," says Puneet Chandra, co-founder and director of Skootr.

While they spent around Rs 75 crore by shelling out Rs 2000 per sqft, the next phase of investment will be slightly higher as costs of some materials have gone up. Also, post-pandemic, the industry wants flexibility and more services to be delivered to their employees. The emphasis is on having spaces that foster collaborations, says Chandra.

Usually, in managed spaces, there are common areas like lobbies, cafeterias, and toilets. The rest of the space is a bare shell, and it is here Skootr does its work. They customize the space to suit the client's requirements. Be it large numbers or being particular about design and configuration, the deals are mostly long-term. While some of their clients include start-ups that have around 200 employees, one US-based client has taken 60,000 sqft to seat 600 employees.

Skootr has a client in IT, BFSI, commodity trading, architecture, and other sectors. Chandra says the IT and political infrastructure are conducive to the growth of the IT sector. While Bengaluru has become a Rs 120-130 per sq ft market, Hyderabad happens to be a sub-dollar market.