Built On Trust, Not Trend: The Story Of Enzyme And Ashish Agarwal’s Accidental 100-Crore Success

New Delhi [India], July 22: Some businesses start with market research, funding rounds, and pitch decks. Others begin with a problem, a gap, or—if you ask Ashish Agarwal—a stroke of accidental brilliance.

In 2014, Ashish Agarwal moved to Bengaluru from North India to expand his family’s spice trading business. He needed an office for a small team, so he took a 21-seater space—only to realise they’d use just 4 or 5 seats. Instead of letting the rest sit idle, he subleased them. Within no time, all were gone.

“The landlord had been trying to rent the space for almost a year,” Ashish recalls. “He was shocked—and impressed. He actually suggested I take another building.” That one decision snowballed into a second, third, and fourth space—and eventually into Enzyme Office Spaces, a bootstrapped coworking company that now manages over 1.55 million sq. ft. across 32 centres, serving everyone from startups to scale-ups.

Not Chasing Flash, Just Filling a Gap

At the time, coworking office wasn’t a buzzword. And Enzyme Office Spaces wasn’t aiming to become the next big coworking firm. The goal was simple: provide affordable, well-managed office spaces for small teams—without the sky-high rents and over-designed lounges.

“There were already some players catering to big MNCs or well-funded startups,” Ashish says. “But no one was serving the 8-member tech team or the bootstrapped founder who just needed a clean, functional space to think and build. That’s who we designed Enzyme Office Spaces for.”

Instead of expensive real estate in glossy towers, Ashish looked for properties with good commute access, nearby eateries, and ventilation. Think less ‘Instagrammable coworking hub’, more ‘4-star hotel of office spaces’: everything you need, nothing you don’t, all at a smart price.

Growing One Square Foot at a Time

Enzyme’s early years were scrappy and practical. “This is a capex-heavy business,” Ashish says. “We started by converting villas into shared offices. No frills, just function. As our cash flow and credibility grew, we slowly expanded into larger properties.”

That approach kept the company lean, sustainable, and responsive. Today, while other players chase scale through massive one-time expansions, Enzyme Office Spaces adds space methodically—typically in the 75,000 to 1,00,000 sq. ft. range per project.

But don’t confuse that conservatism with a lack of ambition. Enzyme now boasts clients like Sugar Cosmetics, ,Vyapar,Dukaan, Paytm, Zepto and recently signed a milestone lease of 90,000 sq. ft. with Vyapar in Bengaluru. “They started with 140 seats during COVID,” says Ashish. “Now they’re taking over 3,000. That’s what happens when you deliver consistently—clients grow with you.”

Not Just Space — A Service Ethos

What makes Enzyme Office Spaces different isn’t just its pricing or footprint—it’s the people-first service culture.

Ashish shares a simple benchmark: “We resolve 99% of client support tickets within 24 hours. That sounds small, but in this business, it’s massive. Clients remember how you made their life easier. They refer you. They grow with you.”

Word-of-mouth has been a major growth engine. Vyapar alone has referred six other companies to Enzyme Office Spaces . That kind of trust isn’t earned through pitch decks—it’s built one conversation, one resolution, one satisfied client at a time.

Designing for the New World of Work

In a post-pandemic world, where hybrid work is here to stay, Ashish believes physical office spaces still matter—now more than ever.

“After COVID, everyone was saying remote work is forever. But look around—teams are now doing 2, 3, even 4 days in office again,” he points out. “In-person collaboration, culture, brainstorming—it all needs proximity.”

Enzyme’s design philosophy reflects that shift. No over-the-top lounge areas or theme-based cabins. Instead, it’s about modular layouts, open designs, natural light, and focus zones. Add to that AI tools for space planning, touchless access, and centralised operations run out of Bengaluru, and you get a model that’s both high-tech and high-touch.

What’s Next: IPO Dreams, Tier 2 Bets, and Reliable Growth

With presence in Bengaluru, Delhi NCR, Hyderabad, and Mumbai, Enzyme’s next targets include Pune and—eventually—Tier 2 cities like Indore and Ahmedabad.

“Tier 2 has potential, but occupancy is still a risk,” Ashish notes. “Fit-outs cost the same, whether you're in Mumbai or Indore. So we’ll wait till the ecosystem matures.”

The bigger ambition? A public listing. “We aim to file for an IPO by 2028.

But IPO or not, the mission remains clear: to be India’s most trusted name in affordable office spaces.

“We don’t want to be the flashiest coworking brand,” Ashish says. “We want to be the most reliable one. If a team needs space to build their dream, we want them to think of Enzyme Office Spaces first.”

From 21 to 45,000 Seats: A Masterclass in Starting Small

Ashish Agarwal’s story isn’t one of overnight success. It’s a quiet, consistent climb—grounded in real-world problems, delivered with humility and hustle.

For any aspiring founder who doubts whether a small idea can become something big, Ashish has this advice:

“Don’t chase what’s trending. Solve something real. Start small. Stay close to your customers. And focus on building value—not just valuation.”

And just like that, what started with 21 seats and a spice trade turned into a ₹100 crore success story—one square foot at a time.

If we sit down three years from now, what headline would you love to see about Enzyme Office Spaces?

Ashish smiles and replies, “Delayed joining to 500 crore empire.”