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Simpliwork Offices to infuse Rs 650 cr to expand business

Friday, 26 Nov 2021
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Salarpuria Sattva's co-promoted Simpliwork Offices will make an investment Rs 650 crore over the next two years to expand its business and meet rising demand of flexible workspace following COVID-19. 
 
Salarpuria Sattva has 50 percent stake in Bengaluru-based Simpliwork Offices. Kunal Walia, founder and CEO of Simpliwork, holds the remaining stake. 
 
The company has earmarked an investment of Rs 650 crore over the next two years to capitalise on the accelerated market demand for flexible enterprise spaces following the pandemic. 
 
The company witnessed a five times growth in turnover in FY21, with a revenue run rate of Rs 300 crore and a committed order book of close to Rs 1,000 crore. 
 
The company has achieved profitability in FY22, and continues to enjoy industry leading EBIDTA margins. 
 
The company is in talks with prospective investors to raise funds to further expand its geographical footprint. It plans to double the inventory to six million sq ft by the end of 2023. 
 
The company plans to raise USD 50-60 million as equity to expand business in India and enter into overseas markets like Singapore. For FY22, the company is estimating topline revenue of Rs 450-500 crore. This sets up the Simpliwork business to publicly list over the next three to five years.
 
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