ANAROCK Strengthens its Flexible Workspaces Portfolio Acquires Flexible Workspace Platform myHQ

Anuj Puri, Chairman, ANAROCK Group, says, "Coming on the heels of ANAROCK introducing US-based Upflex Inc, a hybrid booking platform with the largest global network of flexible workspaces, to India, the myHQ acquisition will further strengthen our tech and product offerings and enhance our capabilities in this vertical. myHQ will spearhead our expansion into 20-plus cities. This gives us nationwide coverage in the flexible workspaces domain, and we will tap into overseas markets in the next 12 months."

Post-acquisition, myHQ will retain its distinct brand and independence. Utkarsh Kawatra and Vinayak Agarawal, both IIT-Delhi graduates who founded myHQ in 2016 will remain on board as founding partners and are enthusiastic about firm's next innings under ANAROCK banner.

"We are thrilled to be a part of ANAROCK, one of the biggest and most trusted real estate services business in the country, to take myHQ to next level," says Utkarsh Kawatra, CEO - myHQ. "It is a well-timed move with the right company given our shared enthusiasm around massive opportunity in this space. We can now accelerate innovation, amp-up the team and enhance user experience through a combination of myHQ's tech solutions, and ANAROCK Group's business expertise and scale. Hybrid approach to workspaces is on the cusp of an explosion with all companies from startups to big Corporates looking to adopt some version of Work-From-Anywhere model. While today there is some depth of inventory in the metros, to make this model truly successful, tier-II & III cities will need to be the future growth multipliers for India's flexible workspace ecosystem."

myHQ Offerings + Revenue Model

myHQ's offerings can be broadly split into two buckets. Our pay-per-use FlexiPass allows individuals & teams to access 700-plus flexible workspaces across the country through one pass with prices as low as INR 200 a day. All spaces on the FlexiPass come with a standardised & controlled work experience and user does not have to worry about fixed monthly rentals, security deposits & lock-ins.

On the other end is Fixed desks, Cabins & Managed Office platform which allows corporates to choose from 700-plus workspaces for leasing their ideal central HQ or satellite offices with highly flexible contracts and a single POC for their workspace needs across the country.

myHQ also partners with cafes, coffee-shops, & lounges and turns them into daytime coworking spaces to help them monetize their vacant inventory during the day. myHQ business model is specifically geared towards capturing the growing demand for flexible spaces in the country by providing a range of solutions tailor-made for individuals, startups, MSMEs and large enterprises at very attractive price points.

USPs

myHQ is currently the only flexi-workspace platform to cater to varying needs of companies and individuals in today's work-from-anywhere world by offering both on-demand needs via their subscription-based FlexiPass and dedicated desks & managed offices as a product.

myHQ is India's largest flexible workspace solutions platform. Founded in 2016 by IIT Delhi graduates Utkarsh Kawatra & Vinayak Agarawal, their mission is to empower today's workforce with freedom and flexibility to work in any-way & from any-where by providing technology driven innovative workspace solutions. Currently present across 7-plus cities with a footprint of 700-plus spaces, they have helped over 50,000 individuals & corporates in having more productive days at work.

Please visit myhq.in

ANAROCK is India's leading independent real estate services company with a presence across India and the Middle East. The Chairman, Mr. Anuj Puri, is a highly respected industry veteran and India's most prominent real estate thought leader. The Company has diversified interests across the real estate lifecycle and deploys its proprietary technology platform to accelerate marketing and sales.

ANAROCK's services include Residential Broking & Technology, Retail (in partnership with Vindico), Commercial, Investment Banking, Hospitality (via HVS ANAROCK), Land Services, Industrial and Logistics (in partnership with Binswanger), Investment Management, Research, Strategic Advisory & Valuations, Project Management Services (in partnership with Mace) and Society Management Services (acquisition of ApnaComplex).

The Company has a unique business model, which is an amalgamation of traditional product sales supported by a modern technology platform with automated analytical and reporting tools. This offers timely solutions to its clients, while delivering financially favourable and efficient results.

ANAROCK has a team of over 1800 certified and experienced real estate professionals who operate across all major Indian (Mumbai, Navi Mumbai, Pune, Ahmedabad, NCR - Delhi, Gurugram, Noida, Chennai, Bangalore, Hyderabad, Kolkata, Lucknow) and Middle East markets. ANAROCK has successfully completed over 400 exclusive residential project mandates. ANAROCK also manages over 80,000 established channel partners to ensure global business coverage.

Our assurance of consistent ethical dealing with clients and partners reflects our motto - Values Over Value.

Please visit www.anarock.com.

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