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ANAROCK acquires myHQ

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Mumbai, April 5, 2022: Real estate services consultancy ANAROCK Group today announced acquisition of myHQ, one of largest Indian flexible workspace platforms, to strengthen its flexible workspaces portfolio. myHQ, headquartered in Delhi-NCR, currently has over 50,000 subscribed members across 700+ spaces in 7 cities.

Anuj puri

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+ cities. This gives us nationwide coverage in the flexible workspaces domain, and we will tap into overseas markets in the next 12 months.”     

Utkarsh Kawatra, CEO - myHQ

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’re 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.

myHQ Offerings & Revenue Model    

myHQ’s offerings can be broadly split into two buckets. Pay-per-use FlexiPass allows individuals & teams to access 700+ flexible workspaces across the country through one pass with prices as low as Rs 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+ 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.      

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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.

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