Qdesq, India's leading marketplace for flexible workspaces, offers workspace solutions to freelancers, startups, MSMEs, and larger enterprises. With a track record dating back to 2015, the company has successfully catered to over 30,000 corporate clients. As part of its service portfolio, Qdesq is now focusing on expanding and strengthening its hyperflex capabilities.
Qdesq, Flexi for Enterprise, is a technologically agile and flexible desk booking platform that has played a crucial role in effectively addressing various challenges related to hybrid work models, proximity to home, and on-demand solutions in numerous locations across India.
Anil Tahlani, Vice President of Client Servicing at Qdesq, said “The importance of our hyperflex capability in empowering bootstrapped companies within the industry to attract enterprise clients and contribute to India's growth trajectory. We are delighted to observe that operators, particularly from emerging cities, are effectively collaborating and leveraging our technological solutions to fortify their positions and capitalize on market opportunities.”
He further explains that the confidence instilled by their portfolio clients in their HyperFlex platform has been instrumental in expanding the capabilities and strengthening relationships with both occupiers and providers. Initially established as a cost centre during the COVID-19 pandemic, their HyperFlex platform has now evolved into a fully profitable division, thanks to a remarkable 17% year-on-year increase in demand. A highly efficient and dedicated team now oversees the HyperFlex vertical, ensuring its smooth operation.
This growth is a testament to the positive sentiments among occupiers, as evidenced by a threefold increase in flexible workspace supply in Tier 2 cities and a twofold increase in Tier 1 cities from March 2020 to March 2023. The reasons behind this surge are clear when considering the optimized real estate operational expenses (OPEX).
According to market speculations, the penetration of flex office spaces is projected to reach 35% of the total office stock, which amounts to 1.4 billion square feet, by March 2030. This represents a significant increase from the current 20% penetration rate, which corresponds to 1 billion square feet, as of March 2023.
Furthermore, an intriguing trend that deserves attention is the substantial growth in meeting room bookings within hybrid work setups. In the second quarter of the 2023-24 fiscal year, these bookings have tripled compared to previous periods. Several factors contribute to this surge in demand, including seamless team collaboration, enhanced privacy, superior facilities, convenient scheduling, and centralized control.
Finally, technology has served as the foundation for ensuring flexibility in locating and reserving a workspace or conference room. Moreover, it provides a more efficient revenue generation system for service providers, particularly in Tier 2 and 3 cities, enabling them to capitalize on their underutilized resources.
