New Delhi, November 03, 2023 : 91Squarefeet, a pioneering new-age commercial fit-out company is set to expand in Pune, Hyderabad, Ahmedabad, and Chennai by setting up dedicated offices in all these cities. The company plans to invest INR 5 crores in each city and to onboard 50+ people team of architects and project managers in each of these cities.
The company is looking to commence the expansion plan by starting with Pune and Hyderabad in the next quarter (January-March, 2024) since it already has several projects going on in these two cities. It plans to focus on Ahmedabad and Chennai in the second half of next year.
Founded in 2019 by Amit Bansal, Amit Mishra, and Puneet Bansal, Y-Combinator backed 91Squarefeet is one of India’s fastest design and build companies. The company’s headquarters is in Gurgaon and already has additional dedicated offices in Mumbai and Bangalore.
Since its inception, the company has delivered over 1100 projects in more than 230 cities. The company started this business by infusing about 50 Lakhs of capital and grew to 100Cr Annualised Turnover. The company has been growing at 300% year-on-year for the past 3 years. It became the fastest design and build company in India to touch INR 100 Cr annualized revenue milestone in India. The company’s revenue in FY 22-23 was 55 Cr and the projected revenue in FY 23-24 is 130 Cr.
It has raised a total of $11 million in funding which includes $1 million in seed investment from prominent angels like Kunal Shah and Nikhil Vora (Sixth Sense) in December 2021, and a $10 million Series A round from YCombinator, Stellaris, and Betatron in August 2022.
The company’s current team size is 250 professionals. It has 30 architects and 150 project management experts. Services Offered by 91Squarefeet include Office Fitouts, Retail Identity Design, and Turnkey Retail Fitouts. Some of the notable projects completed by the company include Reliance Retail’s Trends 3.0 in Ambience Mall, Gurgaon, the establishment of TableSpace Offices in multiple states, and the setup of Tommy Hilfiger and Calvin Klein stores in Colaba, Mumbai, among others.
Expressing his excitement regarding the company’s expansion plan, Amit Bansal, Co-founder & CEO, 91Squarefeet said, “We are thrilled to be on this incredible journey of solving the problems related to the commercial fit-out space. These cities have a significant inflow of commercial real estate inventory planned in the next few years, and large MNCs are investing in office spaces in these cities. We aim to meet the growing demand in these promising markets.
“Speed has been our competitive advantage and we constantly focus on technology innovation in project management and skill development of our manpower to become even faster in project execution. For an average 10,000 sqft office fit-out, our average turnaround time is 45 days while the industry standard is around 75 days.” he further added
With this expansion plan, the company will reshape the commercial fit-out space more extensively, delivering exceptional solutions to a wider audience.
Corporate Comm India (CCI Newswire)
