myHQ by ANAROCK - Comprehensive Analysis Report

Summary

myHQ by ANAROCK is India's prominent marketplace for flexible workspace solutions, offering individuals and enterprises the freedom to work from anywhere. Founded in 2016 by IIT Delhi graduates Utkarsh Kawatra and Vinayak Agarawal, its mission is to provide technology-driven, innovative workspace solutions. The company operates as a tech-enabled platform, offering dedicated desks, private cabins, virtual offices, day passes, and on-demand meeting rooms in coworking spaces. Following its acquisition by ANAROCK Group, a leading independent real estate services company, myHQ has strengthened its market position, leveraging ANAROCK's extensive expertise and network. The company is significant in the flexible workspace industry due to its comprehensive, technology-driven approach and its strategic pivot towards becoming a broader commercial real estate marketplace.

1. Strategic Focus & Objectives

Core Objectives

myHQ's core objectives revolve around empowering the new-age workforce through flexible and convenient workspace solutions, driven by technology. The company aims to integrate real estate expertise with technology to simplify the discovery, booking, and management of workspaces. A key short-term goal includes expanding its footprint internationally, with an immediate focus on Singapore, London, and Dubai. Long-term, myHQ is strategically pivoting to become a broader commercial real estate marketplace, encompassing traditional long-term leasing solutions alongside its flexible workspace offerings, with a target revenue of ₹500 crore over the next five years.

Specialization Areas

myHQ specializes in providing a comprehensive marketplace for flexible workspace solutions. Its key areas of expertise include facilitating access to dedicated desks, private cabins, virtual offices, day passes, and on-demand meeting rooms. A unique value proposition is its tech-enabled platform, which transforms commercial spaces into a nationwide network of flexible work environments, offering services like pay-per-use FlexiPass and managed offices through a seamless digital interface. The company differentiates itself by offering zero brokerage fees, transparent pricing, and direct access to property owners.

Target Markets

The primary target markets for myHQ include freelancers, startups, and large enterprises seeking cost-effective and agile office environments. The company caters to diverse needs, from individual professionals requiring day passes to corporations looking for 50-100 seater offices, training, and meeting spaces. Geographically, its primary market is India, with a network spanning over 1,500 coworking spaces across 30+ cities. myHQ is actively expanding into key international markets, specifically Singapore, London, and Dubai, to capitalize on global demand for flexible workspaces.

2. Financial Overview

Funding History

Prior to its acquisition by ANAROCK Group, myHQ successfully raised a total funding of $2.74 million across seven rounds, with its latest seed funding round occurring on January 16, 2021.

In April 2022, ANAROCK Group acquired a 75% equity stake in myHQ through a cash and stock deal valued at approximately INR 125 crore. This acquisition included capital infused for myHQ's growth.

As of March 31, 2025, myHQ reported an annual revenue of ₹52.9 crore. The parent company, ANAROCK Property Consultants Private Limited, generated a revenue of ₹677 crore for the financial year ending March 31, 2025, with revenue for the fiscal year 2024-25 reported at ₹755 crore, demonstrating a 33% growth from the previous fiscal year.

3. Product Pipeline

Key Products/Services

Flexible Workspaces (Day Pass, FlexiPass)

Description: On-demand access to a network of coworking spaces, cafes, and other commercial spaces.

Development Stage: Fully operational and widely adopted.

Target Market/Condition: Individuals, freelancers, small teams, and remote workers seeking flexible, pay-per-use workspace options.

Expected Timeline: Immediately available.

Key Features and Benefits: Pay-per-use model, nationwide network, digital booking, cost-efficiency, variety of locations.

Dedicated Desks & Private Cabins

Description: Reserved individual desks or enclosed private office spaces within coworking environments.

Development Stage: Fully operational.

Target Market/Condition: Startups, small to medium-sized businesses, and corporate teams requiring stable and private workspace solutions without long-term leases.

Expected Timeline: Immediately available.

Key Features and Benefits: Dedicated space, enhanced privacy, access to coworking amenities, flexible terms.

Virtual Offices

Description: Professional business address, mail handling, and access to meeting rooms without a physical office presence.

Development Stage: Fully operational.

Target Market/Condition: Startups, remote businesses, and professionals needing a professional presence and administrative support.

Expected Timeline: Immediately available.

Key Features and Benefits: Professional image, cost-effective, flexibility, access to physical meeting spaces.

On-Demand Meeting Rooms

Description: Booking of meeting rooms in various coworking spaces on an hourly or daily basis.

Development Stage: Fully operational.

Target Market/Condition: Teams requiring ad-hoc meeting facilities for collaborations, presentations, or client meetings.

Expected Timeline: Immediately available.

Key Features and Benefits: Convenient booking, professional environment, access to necessary equipment, flexible duration.

Managed Offices

Description: Fully managed, customized office solutions for larger enterprises, encompassing space design, fit-out, and operational management.

Development Stage: Fully operational.

Target Market/Condition: Large enterprises seeking tailored, ready-to-move-in office spaces with flexible terms and minimal operational hassle.

Expected Timeline: Project-based, depending on client requirements.

Key Features and Benefits: Customization, reduced operational burden, scalability, premium amenities.

Commercial Real Estate Marketplace (New Initiative)

Description: Expansion of the platform to include traditional long-term leasing solutions in addition to flexible workspaces.

Development Stage: In development and strategic pivot phase.

Target Market/Condition: Businesses of all sizes looking for both flexible and traditional long-term office space solutions.

Expected Timeline: Ongoing development and phased rollout, with international expansion as a key focus.

Key Features and Benefits: Comprehensive real estate solutions, streamlined search and discovery, expert consultation, broader market reach.

4. Technology & Innovation

Technology Stack

myHQ operates as a tech-enabled workspace platform that transforms various commercial spaces into a nationwide network of flexible work environments. The platform leverages technology to provide seamless user experiences for booking, managing, and accessing diverse workspace solutions. This includes facilitating services like pay-per-use FlexiPass, dedicated desks, and managed offices through its digital interface. The company is actively positioning itself as a global tech platform for workspace search and discovery, indicating a strong commitment to technological innovation in the real estate sector. Its core platforms and technologies are designed to offer quick turnaround times and facilitate transparent dealings by connecting users directly with property owners. The company is investing in product development and user experience, as evidenced by recruitment for Product Design Interns (UX Design Interns).

5. Leadership & Management

Executive Team

Utkarsh Kawatra

Position: Co-founder and CEO

Professional Background: An IIT-Delhi graduate, he co-founded myHQ in 2016.

Notable Achievements: Spearheaded the growth of myHQ from its inception, leading its strategic direction and digital transformation efforts.

Key Contributions to the Company: Instrumental in establishing myHQ as a prominent marketplace for flexible workspaces in India and guiding its vision for technological innovation.

Vinayak Agarawal

Position: Co-founder, Founding Partner

Professional Background: Also an IIT-Delhi graduate, he co-founded myHQ in 2016.

Notable Achievements: Played a crucial role in the initial setup and expansion of myHQ's network and operational framework.

Key Contributions to the Company: Contributes to the strategic development and operational efficiency of the flexible workspace platform.

Judhajit Bal

Position: Rejoined leadership team (as of January 2026), focusing on global expansion.

Professional Background: Early core team member, previously served as Head of Growth & Marketing at myHQ. He played a pivotal role in brand vision and tech-driven brokerage business.

Notable Achievements: Key early contributor to myHQ's growth and brand establishment. His current role tasks him with leading international market entry and achieving significant revenue targets from global operations.

Key Contributions to the Company: Spearheading the company's international expansion efforts in markets like Singapore, London, and Dubai, with an aim to transform myHQ into a globally recognized tech platform for workspace search and discovery.

Recent Leadership Changes

In January 2026, Judhajit Bal rejoined myHQ by ANAROCK's leadership team. This marks a strategic move to spearhead the company's international expansion efforts, specifically focusing on establishing its presence in Singapore, London, and Dubai. He is tasked with transforming myHQ into a globally recognized tech platform for workspace search and discovery, targeting a PnL exceeding INR 100 crore from international operations over two years.

6. Talent and Growth Indicators

Hiring Trends and Workforce

myHQ has an employee count of 290 as of October 31, 2024, while the broader ANAROCK Group maintains a team of over 2,300 professionals as of May 2025. The company is actively recruiting for various key roles, indicating steady growth. Recent job postings include "Manager - Commercial Leasing" in Delhi and "Real Estate Surveyor (Commercial Properties)" in Bengaluru, showcasing expansion in its operational and sales teams to support its broader commercial real estate marketplace ambitions. There are also opportunities for "Product Design Internship" (UX Design Interns), demonstrating investment in product development and user experience.

Company Growth Trajectory Indicators

myHQ boasts a network of over 1,500 coworking spaces across 30+ cities, catering to over 50,000 members and 5,000 corporate clients, supported by a team of over 100 expert consultants. The company aims to grow its on-demand bookings from 30,000 to 100,000 per month by 2024-25. The strategic re-entry of Judhajit Bal to lead global expansion, with a target of INR 100 crore from international operations over two years, further signals an aggressive growth trajectory. The company projects a total revenue target of ₹500 crore over the next five years.

7. Social Media Presence and Engagement

Digital Footprint

myHQ by ANAROCK actively maintains a presence on various social media platforms, including X (formerly Twitter), Facebook, LinkedIn, Instagram, and YouTube.

YouTube: The company utilizes its YouTube channel to publish brand films and provide insights into office spaces, featuring tours of client offices, such as MiPhi Semicon India Private Limited, a Micromax company.

LinkedIn: This platform is likely used for professional networking, showcasing leadership insights, and recruitment.

Other Platforms (X, Facebook, Instagram): These platforms serve as channels for key messaging and brand positioning, showcasing myHQ's diverse offerings and its role in the evolving flexible workspace landscape.

Through these channels, myHQ communicates its value proposition of technology-driven, flexible workspace solutions, emphasizing convenience, cost-efficiency, and a premium work experience.

9. Competitive Analysis

Major Competitors

91Springboard

Company Overview: A prominent coworking space provider in India.

Focus Areas: Offers dedicated desks, private offices, and day passes, often catering to startups and SMEs.

Technological Capabilities: Provides a managed platform for workspace booking and community management.

Notable Achievements: Has a significant presence in major Indian cities with numerous centers.

Competitive Positioning: Strong community focus and network density in India.

BHIVE Workspace

Company Overview: Another leading coworking provider with a strong presence in Bengaluru.

Focus Areas: Offers flexible office solutions, including coworking desks, private offices, and virtual offices.

Technological Capabilities: Utilizes technology for booking and managing workspace access.

Notable Achievements: Known for its vibrant community and comprehensive offerings in key tech hubs.

Competitive Positioning: Strong regional presence and focus on tech-driven communities.

Awfis

Company Overview: India's largest provider of agile office spaces.

Focus Areas: Offers a wide range of flexible workspace solutions including coworking, private offices, and custom build-outs for enterprises.

Technological Capabilities: Has a robust platform for booking and managing its extensive network of centers.

Notable Achievements: Significant expansion across India, offering on-demand access to numerous centers. myHQ has partnered with Awfis.

Competitive Positioning: Market leader in terms of scale and reach within the Indian flexible workspace sector.

Other Notable Competitors:

Regus: A global provider of flexible workspaces, known for its extensive international network and diverse offerings.

Stylework: Focuses on a digital platform for flexible workspace discovery and booking.

Estie: Provides technology solutions for commercial real estate, potentially competing in the broader marketplace aspect.

Servcorp: International provider of serviced offices and virtual offices, emphasizing premium locations and services.

Habu, CommonGrounds Workplace, and Codi: Offer various flexible and hybrid workspace models, often with a focus on specific geographic areas or niche offerings.

myHQ differentiates itself by offering a comprehensive marketplace solution, catering to a broad spectrum of needs from individuals to large corporations. Its strategic partnership with ANAROCK Group and its pivot to a broader commercial real estate marketplace further distinguishes it from competitors primarily focused on coworking spaces.

10. Market Analysis

Market Overview

The flexible workspace sector in India has significantly evolved into a mainstream commercial real estate asset class, moving beyond its previous niche, startup-dominated image. Post-COVID-19, there has been a considerable uptake in flexible work models, with approximately 70% of Indian companies adopting some form of work-from-anywhere approach. This trend has fueled high demand for flexible workspaces, particularly for 50-100 seater offices, as well as training and meeting spaces, largely driven by the establishment of Global Capability Centres (GCCs) in India. Coworking spaces now account for a substantial 20-21% share of the country's total commercial office space, with robust growth extending into emerging non-metro markets. The market dynamics indicate a sustained demand for agility, cost-efficiency, and high-quality employee experiences in workspace solutions.

11. Strategic Partnerships

WeWork India

Partner Organization: WeWork India

Nature of Partnership: myHQ serves as the exclusive technology, marketing, and sales partner for WeWork India's day passes, conference room bookings, and Virtual Office products.

Strategic Benefits: This collaboration expands myHQ's premium offerings and network, allowing users to book these WeWork services through either the myHQ or WeWork platforms. It leverages WeWork's established brand and high-quality spaces while extending myHQ's reach and portfolio.

Collaborative Achievements: Increased accessibility to premium flexible workspace options for users of both platforms.

Awfis

Partner Organization: Awfis, India's largest provider of agile office spaces.

Nature of Partnership: myHQ has partnered with Awfis to offer on-demand access to over 100 Awfis centers across the country.

Strategic Benefits: This partnership significantly enhances myHQ's flexible workspace portfolio and reach, providing users with a wider array of options and locations through a single platform. It strengthens myHQ's position as a comprehensive marketplace.

Collaborative Achievements: Broadened network of accessible flexible workspaces for myHQ users, leveraging Awfis' extensive presence.

12. Operational Insights

myHQ by ANAROCK provides a distinct competitive advantage through its operational model. Key differentiators include offering zero brokerage fees for office space rentals, ensuring transparent pricing and direct access to property owners. The company emphasizes a quick turnaround time for its workspace solutions, facilitated by its tech-enabled platform. It boasts one of India's largest networks of verified office spaces, spanning over 30 cities with more than 5,000 properties. myHQ also provides personalized support through dedicated office consultants who assist clients from shortlisting properties to finalizing lease agreements and onboarding. Backed by ANAROCK Group, the company adheres to ethical practices and offers expert consultation for optimizing workspace layouts to enhance functionality and employee satisfaction. Its operational strengths lie in its extensive network, customer-centric approach, and efficient tech platform.

13. Future Outlook

Strategic Roadmap

myHQ by ANAROCK is strategically positioned for significant future growth, aiming to achieve a total revenue target of ₹500 crore over the next five years. A key component of this roadmap is aggressive international expansion, with plans to establish a strong presence in high-value markets such as Singapore, London, and Dubai. The company anticipates generating ₹5-10 crore in revenue from international operations in the first year, scaling to a projected ₹100 crore opportunity over time.

myHQ is also evolving its platform to act as a broader commercial real estate marketplace, extending beyond flexible workspaces to include traditional long-term leasing options. This strategic pivot will allow it to capture a larger share of the commercial real estate market. The company's future focus remains on strengthening accessibility, enhancing the workplace experience through technology, and building a high-quality global workspace network to align with evolving work cultures and cater to the increasing demand for agile and cost-efficient office solutions. Potential future challenges include navigating diverse international regulations, intense competition in global markets, and continuously innovating its technology to stay ahead of market trends. Mitigation strategies involve leveraging ANAROCK's real estate expertise, forming strategic local partnerships, and investing heavily in a scalable and adaptable tech platform.