Ashish Agarwal’s Enzyme Office Spaces has grown from a chance sublease to managing 1.55 million sq. ft. across India. Focused on startups and service-first values, Enzyme is expanding into metro markets like Pune and Hyderabad, proving that trust, speed, and sustainable scaling can redefine success in India’s coworking industry.
An Accidental Beginning
Ashish Agarwal never intended to enter the coworking industry. “Honestly, it was accidental,” he recalls. Initially, to expand his family’s spice trade in Bangalore, he subleased unused desks in a small office—only to find them snapped up almost instantly. That demand led him to launch Enzyme Office Spaces. “We noticed a gap—quality workspaces for small teams and early-stage startups. We stepped in to bridge that.”
The early formula was simple: clean, well-ventilated offices with full administrative support, all at startup-friendly prices. In an industry dominated by players chasing corporate clients, Enzyme focused on the overlooked.
Scaling Sustainably
Coworking may be booming, but Agarwal stresses that it’s a capital-intensive game. “This business is capex-heavy,” he explains. “We started by converting villas and compact properties into shared offices, keeping investment low.” As revenues grew, so did Enzyme’s footprint, with a measured approach. “Even today, we grow gradually, typically taking on up to 1 lakh sq. ft. per project. It’s more sustainable.”
This methodical scaling has enabled Enzyme to maintain service quality while expanding into major metros, including Bangalore, Mumbai, Delhi NCR, and Hyderabad, with Pune next on the map.
Future-Focused, But Cautious
While Tier 2 cities are emerging as startup hubs, Agarwal remains pragmatic. “Even if property costs are lower, occupancy is a major challenge,” he says. “We’ll explore cities like Indore and Ahmedabad in 2-3 years—but for now, we focus on metro markets where demand is steady.”
Post-2025, Agarwal anticipates a more mature coworking landscape, particularly among mid-sized companies and digital-first businesses. “Big firms like Myntra, Flipkart, and Google are now open to managed office spaces. That shift is significant.”
Trust Drives Growth
A recent milestone for Enzyme is a 90,000 sq. ft. lease signed with long-term client Vyapar at the Sarjapur centre in Bangalore. Vyapar started with just 140 seats in 2020 and stayed loyal despite offers from competitors. “That loyalty comes down to service and trust,” Agarwal says.
One of Enzyme’s biggest differentiators is responsiveness. “99% of our support tickets are closed within the same day,” he shares. “In this business, fast response builds deep trust, which drives referrals.”
What’s Next?
Enzyme is in active talks with new tenants, with only 30,000 sq. ft. left to lease at their latest centre. The company continues to rely on its biggest strength: happy clients. “The founder of Vyapar has referred us to 6 or 7 other companies,” Agarwal notes. “Word-of-mouth is everything.”
Agarwal’s advice to entrepreneurs? “Don’t get carried away by funding hype. Start small, stay flexible, and focus on the bottom line—not just the top line.”
Enzyme’s story is a reminder that in a crowded market, steady execution and client-first thinking still win.
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