I don't have access to a computer, and I don't know how to use the spoiler mask on a phone. Hopefully, this post doesn't really warrant one.
Could someone point out how to mask things using only text?
Anyways, Karthick,
I think you should be careful with your assumptions. I'm not saying they are wrong, but your approach seems to assume that the optimal placement of circles will be the one that wastes the least space. Note that the optimal placement is actually the one where the maximum distance of any circle from the "center" is reduced, which isn't necessarily the one where the circles take up the least amount of total space.
PS. BMAD - You're really creative; you know that? I admire your prolificity in puzzle making.