GCCs, AI, and Fintech Firms Drive Revenue for Coworking Spaces: Enzyme CEO

Flexible office spaces have become the go-to solution for many businesses, offering a range of options and work environments that traditional offices cannot match. Unlike fixed and assigned desk positions, workers in a flexible office space can choose the area that best suits their current work needs. This flexibility is a major draw for companies looking to adapt to the evolving work landscape.

Ashish Agarwal, Founder and CEO of Enzyme Offices, a leading flexible and managed workspace provider, has highlighted the significant role of Global Capability Centres (GCCs), Artificial Intelligence (AI), and Fintech firms in achieving revenue targets. According to Agarwal, these sectors are showing tremendous growth momentum and are becoming key drivers for the Indian flex space market.

"AI-driven firms and fintech companies are growing at an unprecedented rate," Agarwal explained. "Additionally, GCCs have become one of the most promising drivers for the Indian flex space market. Instead of directly investing in traditional real estate, many global players prefer starting with a flex provider like us. This approach allows them to test the waters with agility and scale quickly if needed."

Enzyme Offices has ambitious plans to double its revenue in FY26 and achieve ₹200 crore Annual Recurring Revenue (ARR) by FY27. To support this growth, the company is planning a ₹50 crore investment in expanding operations, enhancing infrastructure, and strengthening technology capabilities. Enzyme has already achieved 60 per cent of its FY26 revenue target within the first five months of the financial year, driven by strong demand from both GCCs and leading Indian startups.

"The fintech companies like Vapar and the GCCs like Sberbank and Cognite are major contributors to our growth," Agarwal noted. "Currently, the major growth is coming from AI companies and related industries. These firms are increasingly tapping into flex space companies, ultimately adding to our revenues."

Enzyme currently focuses on metros, with expansion plans centred on Hyderabad and Pune, building on its strong presence in Hyderabad. Among the many reasons for the company's success, Agarwal emphasized the importance of service quality and brand image. "Global clients tend to prioritize service quality and brand image and are less price-sensitive. They don't mind paying a little extra for a high-quality, hospitality-like environment," he added.

The flex space segment has emerged as the second-biggest contributor to India's office leasing market in 2024, capturing 19.8 per cent of the annual gross leasing activity and setting a new record of 15.3 million sq. ft. Technology companies remained the biggest occupiers in India's flexible workspace segment during the first half of 2025, contributing to nearly 50 per cent of total demand. This trend is driven by firms' continued prioritization of agility and talent access in a hybrid work environment.

Occupiers in the technology sector remain a cornerstone of office space demand across India's top seven cities, driving Grade A space uptake in both conventional and flex spaces over the past years, according to real estate consultancy firm Colliers. During H1 2025, tech occupiers leased over 10 million square feet of office space across the top seven cities, driving 40 per cent of the conventional space demand.

Bengaluru and Hyderabad, which host India's largest talent clusters, continue to lead tech leasing activity, together driving nearly 50 per cent of the conventional office space uptake in H1 2025. Global Capability Centres (GCCs) in the technology space continue to drive India's commercial real estate momentum. Strong domestic leasing, coupled with increasing Grade A space uptake by GCCs, continues to fuel office demand in India.