Simpliwork lines up Rs 650 cr investments; targets to double its inventory by end of 2022

Chennai, Jan 6 (PTI): Simpliwork, outsourced office solutions provider partnered by Salarpuria Sattva, has lined up investment plans of Rs 650 crore over the next two years by creating Grade A offices for leading corporates across the country, the company said on Thursday.

The Bengaluru-headquartered firm, co-promoted by realty player Salarpuria Sattva, has set a target to double its inventory across the country to six million square foot by end of the year, the company said.

After setting up presence in Bengaluru, Mumbai, New Delhi, Gurgaon, Hyderabad, Pune, the company added Chennai to its portfolio.

''The company plans to capitalise on accelerated demand for flex offices among large corporates, and targets to double its inventory across India to six million square foot by end 2022,'' a company statement said here.

The company's latest 64,000 sq ft Centre in Chennai, housed in a development by K Raheja Corp, offers premium outsourced offices to leading payment solutions provider SBI Cards Limited. ''The transaction was facilitated by leading international property consultants Jones Lang LaSalle...'' ''2021 has been a milestone year for Simpliwork in terms of business growth. As an industry leader, we have been able to offer agile solutions vis-a-vis world-class offices across leading markets,'' company founder and CEO, Kunal Walia said.

''Chennai our latest addition, is a strong economic centre. The city offers immense potential that attracts large enterprises across industries. Simpliwork, with its supply of Grade A flex offices, is looking to capitalise on this trend and set new benchmarks in the outsourced office sector,'' he said.

Over the next two years, Simpliwork plans to invest Rs 650 crore in creating Grade A offices for leading corporates across the country, the company said.

''During the current financial year, Simpliwork registered a 5x growth in turnover as compared to last year,'' the statement said without revealing the financial details.