Coworking companies rely on GCCs, AI, and fintech businesses to achieve their revenue goals, according to the CEO of Enzyme.
In the dynamic world of commercial real estate, India has emerged as a significant player, with Global Capability Centres (GCCs) playing a pivotal role. These centres, operated by leading technology, software, banking, financial services, and insurance companies, contribute substantially to India's real estate market. As of 2025, India hosts around 1,700 GCCs, accounting for 53% of all global GCCs.
These GCCs have not only driven demand for commercial infrastructure but have also fostered innovation and talent development hubs, making them one of the most promising drivers for the Indian flex space market. The flex space segment has, in fact, emerged as the second-biggest contributor to India's office leasing market in 2024.
Tech occupiers have been at the forefront of this trend, contributing nearly 50% of total demand in the flexible workspace segment. In the first half of 2025, technology companies leased over 10 million square feet of office space across the top 7 cities. Bengaluru and Hyderabad, which host India's largest talent clusters, lead tech leasing activity and together drove nearly 50% of conventional office space uptake in H1 2025.
Among the flexible workspace providers, Enzyme Offices stands out. Founded by Ashish Agarwal, Enzyme Offices is a flexible and managed workspace provider that aims to double its revenue in FY26 and achieve Rs 200 crore Annual Recurring Revenue (ARR) by FY27. The company currently focuses on metros, with expansion plans centred on Hyderabad and Pune.
Enzyme's success is noteworthy, as it has already achieved 60 per cent of its FY26 revenue target within the first five months of the financial year. This achievement underscores the growing demand for flexible workspaces in India, driven by the increasing presence of GCCs.
The appeal of flexible workspaces lies in the range of options and work environments they offer employees. As AI-driven firms and fintech companies show tremendous growth momentum, the demand for such workspaces is expected to continue.
Strong domestic leasing, coupled with increasing Grade A space uptake by Global Capability Centres (GCCs), continues to fuel office demand in India. With players like Enzyme Offices leading the way, the future of India's commercial real estate looks promising.
