The Office Pass: Building a Profitable Neighborhood Coworking Network in India
Aditya Verma left a successful real estate exit to build a coworking company that survived a 73% customer loss during COVID by focusing on unit economics, virtual tours, and hyperlocal offices near where people live.
Business snapshot
Monthly revenue
$200K/mo
reported Dec 2021
- Based in
- New Delhi, Delhi, India
- Current Offices
- 10
- SMB Customers
- 140+
- YoY Growth Rate
- 180%
- Current ARR
- USD 1.8 Mil
- Target Revenue
- USD 7.3 Mil
- Break-even Occupancy
- 60%
Tools
Founder-reported figures, not independently verified.
Who built it, and what they built
Aditya Verma serves as Founder and CEO of The Office Pass (TOP), a flexible workspace provider targeting small and mid-sized businesses across India. The company operates offices designed to be warm, affordable, and immediately usable for teams seeking professional environments close to home.
Before launching TOP, Verma co-founded and led Makaan.com, a prominent Indian property portal that was acquired by a NewsCorp investee company in 2015. He holds an engineering degree from Harcourt Butler Technological University and an MBA from International Management Institute.
Where the idea came from
Verma initially planned to launch a managed apartment business, viewing it as a natural extension of his real estate experience. While researching this concept, he discovered WeWork's coworking model in the United States and spent four to five months analyzing both approaches. He concluded that coworking offered superior scale and margins compared to serviced apartments.
Recognizing that Indian professionals often waste two to three hours daily commuting, Verma adapted the Western coworking concept for local conditions. He coined the term Neighborhood Coworking to describe offices located within five kilometers of where members live or work, positioning TOP as a convenience store alternative to the superstore model pursued in developed nations.
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