Ashish Agarwal, Founder & CEO, on enterprise demand, GCC growth and why operations—not aesthetics—define the future of flexible workspaces
What market gaps did Enzyme Office Spaces identify at inception, and how has the vision evolved amid the rise of hybrid work and enterprise-led workspace demand?
When Enzyme Office Spaces was founded, we identified a clear gap in the market: the lack of efficient, dependable and genuinely operational office management solutions for start-ups and growth-stage companies. Most coworking spaces were heavily design-led but operationally weak, while traditional offices came with long lock-ins, high capital expenditure and significant management overhead. This created friction for businesses that needed plug-and-play offices to stay focused on growth.
As hybrid work became mainstream and enterprises reassessed their real estate strategies, our vision evolved. We moved from primarily serving start-ups to positioning ourselves as a long-term managed workspace partner for enterprises and Global Capability Centres (GCCs). Today, our focus is on custom-built, enterprise-grade managed offices that support hybrid core offices and long-term expansion strategies.
How did Enzyme Office Spaces perform financially in the most recent fiscal year, and what role did managed offices play in driving growth?
The company recorded strong year-on-year revenue growth in the most recent fiscal year, largely driven by the rising share of managed office contracts and long-term enterprise relationships. Managed offices have become a critical revenue stream as they offer higher occupancy stability, lower churn and more predictable cash flows compared to short-term coworking models.
Longer-term contracts with enterprises, GCCs and well-funded start-ups have significantly improved occupancy levels and strengthened customer relationships, reinforcing the resilience of our business model.
What macro trends are shaping client preferences today, and how is Enzyme aligning its offerings with these shifts?
Several macro trends are influencing demand in the flexible and managed office space. Hybrid work is now fully integrated, enterprises are decentralising into multiple cities rather than operating from a single headquarters, and technology-driven sectors such as AI, fintech, SaaS and GCCs are expanding rapidly.
Clients increasingly want offices that can scale flexibly, support collaboration, and remain cost-effective based on actual occupancy. In response, Enzyme focuses on bespoke, enterprise-managed offices with flexible seat additions in high-demand business hubs. Our emphasis is on operational readiness, speed of delivery and flexibility, rather than a generic coworking approach.
In a crowded flexible office market, what differentiates Enzyme’s managed office solutions?
Our differentiation lies in a service-first, operations-driven model. We are not focused on trendy coworking aesthetics, but on reliability, efficiency and customisation. We design offices aligned to each client’s brand identity and operational requirements, manage facilities through integrated in-house operations, and deliver faster fit-out timelines.
We also invest in thoughtful innovations around access management, security and day-to-day business operations. This approach has helped us build long-term partnerships and strong customer retention in highly competitive markets. We see ourselves as a workspace partner, not just a space provider.
What are Enzyme’s expansion priorities, and how do you balance scale with operational efficiency and capital discipline?
Our expansion strategy centres on measured, sustainable growth in key metro markets and central business districts where enterprise and GCC demand remains robust. From a format perspective, we are prioritising managed offices and build-to-suit enterprise offerings over pure coworking models.
Given the capital-intensive nature of the business, balancing scale with efficiency is essential. We expand only in markets with clear demand visibility, strong occupancy potential and operational feasibility. This disciplined approach allows us to scale while maintaining capital efficiency, asset-light structures and operational control.
