Coworking Firm Skootr’s New Vertical To Focus On Financial Solutions; Aims Rs 200 Crores Biz In FY22
- ByStartupStory | July 10, 2021
Skootr Global provides managed office space, has started a separate vertical to offer financial services to potential corporate clients for fit out and is projecting Rs 200 crore worth business in this fiscal year from the new venture. At present, Skootr has nine Grade-A centres with around 5,500 seating capacities in Delhi, Gurugram, Hyderabad and Jaipur. These desks have been mostly leased out to large corporates. The company is looking out to expand business by bringing innovative offering in the market amid the pandemic, the Gurugram-based company has recently launched a new vertical ‘Skootr FinSave’ that will offer a complete office solution for corporates.
Skootr Global Pvt Ltd was founded in 2016 by Puneet Chandra, Ankit Jain and Anuj Saxena. The company posted a revenue of around Rs 50 crore during the last fiscal year. Rahul Sarin, National Head, Skootr FinSave said,’Skootr FinSave offers unique financial model by offering ‘fitout as a service’ that enable clients to enjoy premium office fitout and fixtures without owning them and enjoy tax arbitrage that helps in significant improvement of the financial ratios.’ He further added, “While Skootr Global has been a dominant player in the managed office space, Skootr Finsave will cater to one of the most important aspects of office industry in current times — capex and cost optimization.” Skootr FinSave will provide its services to those corporates also who are not Skootr’s client and will expand to cities where Skootr is not present. ‘The company intends to do business of Rs 200 crore under this vertical in the financial year. Skootr FinSave has already got a few clients with a total business potential of around Rs 30 crore.” Sarin said.
The financial model will assist corporate clients to focus on their core business growth and Skootr FinSave would invest, build and operate their offices. ‘To be exact, we will strive to minimize our client’s risk and maximize the returns. The managed office space sector is poised for a healthy growth and with Skootr Finsave, we are aiming to redefine the office leasing ecosystem through complete asset life cycle solutions services,’ Sarin said. Furthermore, He highlighted that leasing office fitout offers lucrative tax benefits as payments are 100 per cent tax-deductible.
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