Listen

Pause Resume

Global Capability Centres (GCCs), Artificial Intelligence (AI) and fintech firms are emerging as key drivers of revenue growth for coworking space providers in India, according to Ashish Agarwal, Founder and CEO of Enzyme Offices.

Enzyme Offices, a flexible and managed workspace provider, has announced ambitious plans to double its revenue in FY26 and achieve ₹200 crore Annual Recurring Revenue (ARR) by FY27. The company has already achieved 60% of its FY26 revenue target within the first five months of the financial year, driven by strong demand from GCCs and leading Indian startups.

The key drivers of growth in the flex space market are GCCs, which have become a significant source of demand, with companies like Sberbank and Cognite contributing to this growth; AI-driven firms, which are showing tremendous momentum and driving demand for flex space; and fintech companies like Vapar, which are also contributing to the growth, with Enzyme Offices’ CEO citing them as a major reason for the company’s success.

The flex space segment has emerged as the second-biggest contributor to India’s office leasing market in 2024, capturing 19.8% of annual gross leasing activity. Technology companies remain the biggest occupiers in India’s flexible workspace segment, driving Grade A space uptake in both conventional and flex spaces.

Enzyme Offices currently focuses on metros, with expansion plans centred on Hyderabad and Pune. The company aims to leverage its strong presence in Hyderabad to drive growth. According to Agarwal, global clients prioritise service quality and brand image, and are less price-sensitive, making flexible services and hospitality-like environments key draws for GCCs.

The demand for flex space is expected to continue, driven by GCCs, AI-driven firms, and fintech companies. As the market continues to evolve, coworking space providers like Enzyme Offices are well-positioned to capitalise on the trend.