Managed office space provider Skootr earmarks Rs 1,000 cr to add 5 mn sqft portfolio by FY28

Managed office space provider Skootr plans to add 5 million square feet new portfolio by FY 2028

Managed office space provider Skootr plans to add 5 million square feet to its inventory by FY2028 at an estimated investment of Rs 1,000 crore to expand its portfolio and widen its footprints across key micro markets of the country, Anuj Saxena, co-founder of Skootr, told Moneycontrol.

The company last week launched its premium flexible workspace ‘Skootr Palace Park’, sprawled over 1.03 lakh sqft in sector 129 along the Noida-Greater Noida Expressway.

Saxena said that Skootr will also go live in Pune, Chennai and Mumbai micro markets this fiscal year.

Also Read: Skootr to double its managed working space portfolio in Bengaluru by FY24

“Our target is to add around 5 msf of portfolio by FY 2028 with a tentative investment of around Rs 1,000 crore. Out of this, around 1 msf of office space will be launched in 2024-25 at a tentative investment of Rs 150 crore. Out of total 5 msf office space, around 2 msf will be in Bengaluru, while Delhi NCR and Hyderabad micro-markets will have development of around 1 msf each. The remaining 1 msf will come up in other markets such as Mumbai, Pune and Chennai,” Saxena said.

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Founded in 2016, Skootr has around 15 centres in Delhi, Noida, Gurugram, Jaipur, Hyderabad, Chennai and Bengaluru. Some of its major clients include BMW, IKEA, Pinnacle, American Express, Macquarie & Expedia, and The Economist.

Skootr Palace Park

Skootr has recently leased over 100,000 sqft of premium office space on the Noida-Greater Noida Expressway. Situated in the centrally located Max Square, built by Max Estates, in sector 129, Skootr Palace Park has a capacity of 1,586 seats.

Saxena said that the Noida-Greater Noida Expressway is witnessing brisk growth with large enterprises and business houses looking to invest there. The belt has an eclectic mix of residential, commercial, and industrial projects.

“With Skootr Palace Park, we intend to offer a productive, premium, and extraordinary office space in the heart of the business hub, where people enjoy working. With Corporate India returning to office, our aim is to provide a business model to our clients that helps them scale and reach the top,” Saxena said.

Also Read: Skootr rents over 1 lakh sq ft of co-working space in Max Square in Noida at Rs 74.22 lakh per month

With the addition of Skootr Palace Park, the company now has 80 offices across 20 premium properties in India, totalling a built-up portfolio of 3.5 million square feet of managed office space across all business verticals.