Back to office with these new modifications
HYDERABAD: IndiQube, the brainchild of its co-founders Rishi Das and Meghna Agarwal started in 2015 with an idea to revolutionise workspaces. The duo has been serial entrepreneurs with footprints in CareerNet, HirePro & Ultrafine Minerals before their foray into providing managed office spaces with IndiQube.
The idea of IndiQube had its roots from CareerNet, where they needed to change their office space every other year considering the scale of growth. This prompted them to lease out a large office campus for next 10 years and in the interim give out unused space to other companies. The clients who moved in, started requesting access to infrastructure like meeting rooms, food court, internet and services like transport, asset maintenance and housekeeping. This is when they started realising a huge gap in the Indian commercial real estate industry between premium tech parks and independent landlord owned buildings.
During their entrepreneurial journey, understood that enterprises, for their office space requirements, are faced with challenges like volatility, high capex and long-term leases from traditional landlords. They went on to create IndiQube, a managed office space brand that provides accessible, affordable and personalized workspaces keeping employee delight at the heart. Meghana says they provide a ‘office in a box’ solution encompassing workspace design, interior build out and plethora of B2B & B2C services leveraging technology. They create a smart building experience catering to large enterprises, start-ups and offshore development centres with key growth drivers like scalability and flexibility.
Regarding the office space trend in Hyderabad, is it corporates or startups who approach IndiQube for services? How different is the concept from co-working spaces. Says - Meghna Agarwal, Cofounder, IndiQube, “In the last 5 years, investor interest in Hyderabad has been booming due to a combination of improved public transport infrastructure and development of integrated townships. Office space demand in the city has also followed suit, with 2019, witnessing a record office space absorption of 12.8 Mn sq ft. which, owing to the pandemic, has come down to 6 Mn sq ft in 2020.
In the post pandemic era, we at IndiQube have seen a 50% increase in enquiries originating from enterprise clients in Q3 Vs Q2, primarily from IT industry, MNCs, ODCs & late-stage startups. These enquiries are fulfilled through our commune IndiQube Pearl which is in Gachibowli, the IT Hub of Hyderabad, spreading over 75,000 sq ft, with amenities like multipurpose cafeteria, gaming zone, lounge, collab areas, multi-level parking and many more”.
About how different they are from other coworking operators, the team adds, “About 85% of our clientele are enterprises and 15% are from co-working. We cater to the entire gamut of workspace requirements from space to design, build, operations in an a la carte model, where clients can pick and choose as per their requirement.”