Explore Business Standard
Coworking Space
Smartworks Coworking Spaces, which plans to launch IPO on July 10, has said that the company's total debt stood at Rs 382 crore at the end of April. Gurugram-based Smartworks currently has 48 operational centres with over 1.9 lakh seating capacities. "Our total outstanding borrowings as on April 30, 2025, were Rs 3,819.67 million, on a consolidated basis," the company said in a Red Herring Prospectus (RHP) filed with SEBI. Smartworks will hit the capital market on July 10 to launch its Initial Public Offering (IPO). The issue will close on July 14. The company has revised its IPO size downward. The size of the fresh issue has been reduced to Rs 445 crore from the earlier planned Rs 550 crore, while the Offer For Sale (OFS) by promoters has been cut to 33.79 lakh shares from 67.59 lakh shares. Out of the total proceeds from the fresh issue of shares, the company will use Rs 226 crore for capital expenditure related to the fit-outs in new centres and security deposits for these ne
Smartworks Coworking Spaces, which plans to launch IPO on July 10, has posted a net loss of Rs 63.17 crore in the last financial year despite rise in income from operations. Its net loss stood at Rs 49.95 crore in the preceding 2023-24 financial year. However, the revenue from operations rose to Rs 1,374.05 crore in the 2024-25 fiscal year from Rs 1,039.36 crore in the preceding year, according to red herring prospectus (RHP) filed by the company. Gurugram-based Smartworks currently has 48 operational centres with over 1.9 lakh seating capacities. "These losses were on account of our total income being lower than the expenses for the relevant fiscal," the company said in the RHP. Smartworks said it aims to generate and sustain increased revenue levels and decrease proportionate expenses in future periods to achieve profitability. Smartworks will hit the capital market on July 10 to launch its initial public offering (IPO). The issue will conclude on July 14. The company has rev
Co-working centre operators have rented 65 lakh square feet of office space during the January-June period this year across seven major cities, up 48 per cent on an annual basis, on rising demand for managed and flexible workspaces from corporates, according to Colliers India. Co-working operators leased 44 lakh square feet in the corresponding period of 2024 calendar year across seven cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Pune and Bengaluru. The co-working operators take office spaces on rent from real estate developers and property owners and then sub-lease it to corporates of all sizes. Although many corporates have started opting managed office space provided by co-working operators to save cost and hassles, a large number of companies still take conventional workspaces directly from builders and property owners. Colliers India data showed that the total gross leasing or absorption of office space rose 13 per cent to 337 lakh (33.7 million) square feet durin
Realty firm Sumadhura Group has forayed into the co-working business with the opening of its first centre in Bengaluru, covering 1.3 lakh square feet area, as it sees huge demand for managed flexible workspaces from corporates. In a statement on Tuesday, Bengaluru-based Sumadhura Group said it has set up a separate vertical 'workship' to provide premium managed office spaces to corporates. "We have already opened our first centre in Bengaluru and the plan is to add 3 more centres this fiscal with a total portfolio of 5 lakh sq ft area," said Madhusudhan G, Chairman & Managing Director of Sumadhura Group. He said the workship will take office space on lease from the parent firm Sumadhura Group as well as from other builders. In the first centre, Madhusudhan G said the company is providing workspaces at around Rs 15,000 per desk. The first centre is located within Sumadhura's commercial complex - Capitol Towers- in Whitefield, Bengaluru. "India is witnessing a significant shift in
Co-working centre operators rented out a record 2.24 lakh seats last year across eight major cities mainly on rising demand of managed office space from corporates, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield data showed that co-working or flexible office space operators had provided 1.56 lakh desks in 2023 in Bengaluru, Delhi-NCR, Pune, Kolkata, Mumbai, Hyderabad, Chennai and Ahmedabad. These operators take office space on rent from real estate developers and property owners to set up their facilities and then they provide workspaces to corporates of all sizes, professionals and individuals. "With global enterprises increasingly adopting a 'Core+Flex' leasing strategy, combining traditional offices with managed workspaces, flexible workspace demand is expected to maintain its strong growth trajectory in 2025 and beyond," Ramita Arora, Managing Director (Bengaluru) and Head- Flex, India, Cushman & Wakefield, said. This will further drive ...