Would you consider building a closet that would hold the platform on which your mattress would be placed? The outer side of the platform could have drawers or doors to the storage units under the platform. This kind of enclosure would work better for a twin bed than for a double, but it would provide a place where the bed can be concealed during the day time. Then, if you could allow a path between the bed enclosure and sofa, you could have the sofa face the dining table, or you could place the dining table at a right angle to the end of the sofa.

Here is an idea:

Gauri, we have analysed the space and your requirement. One thing is for sure that you can use the wardrobe next to entrance door and if you have the option of placing the Bed at opposite wall from current wall, that would give you better space and also avoid an obstructing view very moment you enter. Next, Study Space towards balcony - Right Hand side ( towards the main entry) and also an additional storage cum display unit on the opposite wall of study. it should be combination of side table of the bed. In case if you need all this put in a plan and share it...share the directions so that I will see that It's adhered to VASTU as well ( mainly the bed headboard)

send the pics of the space