Co-working startup Skootr's new vertical to focus on financial solutions; aims Rs 200 Cr biz in FY22

Skootr Global, which provides managed office space, has started a separate vertical to provide financial services to potential corporate clients for fitout, and is targeting 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 capacity in Delhi, Gurugram, Hyderabad, and Jaipur. These desks have been mostly leased out to large corporates.

Seeking to expand business by bringing an innovative offering to the market amid the pandemic, the Gurugram-based startup has recently launched a new vertical 'Skootr FinSave' to offer a complete office solution for corporates.

Rahul Sarin, National Head, Skootr FinSave, said:

"Skootr FinSave offers unique financial model by offering 'fitout as a service' that allows clients to enjoy premium office fitout and fixtures without owning them and enjoy tax arbitrage that helps in significant improvement of the financial ratios."

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 the office industry in current times — capex and cost optimisation, he told PTI.

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Skootr FinSave will also offer services to corporates who are not Skootr's clients 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," Sarin said.

The platform has already got few clients with total business potential of around Rs 30 crore. The financial model will help corporate clients to focus on their core business growth and Skootr FinSave would invest, build and operate their offices.

Sarin explained,

"We will strive to minimise our client's risk and maximise 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."

He also highlighted that leasing office fitout offers lucrative tax benefits as payments are 100 percent tax-deductible.

"Instead of investing all your resources into the office interior, leasing helps in releasing capital to be spent on other aspects of your business. This lets you invest in business growth and development," he added.