Aditya has extensive leadership experience in consumer internet companies. Aditya was the Co-Founder and CEO of Makaan.com, which was acquired by Prop Tiger, before founding The Office Pass (TOP). TOP began operations in March 2017 from a small 2,800 sqft office on Sohn Road in Gurgaon. TOP currently operates 12 Neighbourhood Coworking and Managed locations throughout Delhi. TOP office solutions are used by over 100 businesses. TOP is an EBDITA-positive company.
Over the next three years, we intend to have 100 offices with a broader geographical footprint, serving over 1,000 businesses. TOP, according to Aditya, could have scaled much faster at the expense of unit economics, but he does not wish to build such a business. He believes in hard currency rather than paper money. Real TOP’s Coworking offices are also designed to meet the needs of Indian SMBs. everything is being done with this segment in mind. As a result, TOP offices are relatively small in size and are spread across CBD areas and around residential neighborhoods in a city, allowing employees to get to the nearest office in less than 20 minutes.
TOP employs entirely digital marketing techniques to keep costs low, and we have had great success. Public relations has more clout than advertising. It also appears that PR has longer legs, as the impact of good coverage extends far beyond that month or quarter. It enables you to leave a lasting impression on your customers.
Around November-December 2021, India was emerging from the pandemic, and businesses were considering resuming formal operations. Around that time, TOP had taken a 30,000 SqFt office in Gurgaon. It was a 600-seat office, and it would have taken us 5-6 months to fill these seats normally. Second, many small Coworking players had closed shop because they were unable to manage their operations during the pandemic.
When we first opened our doors in 2017, coworking attracted only freelancers and start-ups. They accounted for more than 85% of our portfolio. As the industry matured and organizations realized the advantages of coworking over traditional offices, SMBs and large corporations began to favor coworking. Large corporations and multinational corporations prefer a type of coworking known as Managed Offices. TOP expanded into managed offices in 2021 and now operates four managed offices in the Delhi NCR region.
The Office Pass (TOP) has set an aggressive expansion goal for the next three years. We believe that interest in Neighbourhood Coworking spaces will grow in the post-COVID period. TOP currently operates 12 co-working spaces in the Delhi NCR. We intend to open 100 offices and onboard over 1,000 companies over the next three years.
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