Managed workspaces company, Table Space Technologies, which operates a 4 lakh sq ft centre in Hyderabad with 5,000 seat capacity is bullish on the prospects of growth in the city. The company is on the verge of signing up another 2.5 lakh sq ft in HITEC City and the financial district.
Table Space, co founded by Karan Chopra and Amit Banerji, plans to touch 50 lakh sq ft nationally in next 24-36 months, from its current 9.3 lakh sq ft footprint. By end of March 2020, the company aims to touch 20 lakh sq ft mark and Rs 500 revenues. The company has seen a 4x revenue growth year-on-year and sees Hyderabad as a key growth market.
Karan Chopra, MD and co-founder, Table Space Technologies, told Telangana Today, “We forayed into Hyderabad in September 2017, making it our flagship centre in the country. Commercial real estate has been on rise in the city. A lot of quality assets had been built in the recent years. The city still has a rental advantage considering Bengaluru where we also have assets, showing a 45-50 per cent difference in rentals. We have 20 clients now with an average seat usage of 200-250.”
“Most of our tenants are $50 billion multinationals. We had been focusing on enterprises unlike co-working s paces that primarily focus on startups. Since our assets are offered to companies on long-term commitment (lock-in and leased), our value proposition is high providing them the space much faster, better and cheaper. We get a minimum commitment of 3-5 years,” he informed.
With Hyderabad becoming a hub for IT and technology, companies are always looking to create swanky offices to attract the best talent.
Today, Table Space operates in Hyderabad, Mumbai (78,000 sq ft), Bengaluru (3 lakh sq ft) and Noida (1.5 lakh sq ft) managing close to 9.3 lakh square feet of space across India. The company is witnessing 90 per cent occupancy rate in Hyderabad, 85 per cent in Mumbai and 100 per cent in Bengaluru. It has over 40 enterprise clients across the four cities. Nationally, the company has a capacity of 10,000 seat capacity, with Hyderabad accounting for 50 per cent of it.
“We are going to enter into Pune, Chennai, Gurugram and New Delhi this year. We will continue to expand in Hyderabad, Bengaluru and Mumbai. We are looking at HITEC City, central Hyderabad and financial district for further expansion,” he added.
Chopra explains, “We have seen that large enterprises are looking for compliant buildings meeting all statutory requirements and certifications. We are able to cut the floors and give our clients space as they need. We have built software that helps clients to design the kind of offices they want. This makes the design efficient.
They can also monitor progress online. Traditionally, enterprises spend 15 months to acquire workspace, which we have brought down to 45 months. We are an integrated space provider who will build and deliver the workspace, taking care of architecture, capital and all clearances.”
On funding, he said, “We are a Rs 100 crore company and talking to VC funds to meet our expansion needs.” #KhabarLive