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Demand for office space remains strong, with gross leasing rising 9 per cent annually in the July-September quarter across seven major cities, according to real estate consultant Colliers. Colliers India data showed that gross office leasing is estimated to have risen to 18.7 million sq ft in the third quarter of this year from 17.2 million sq ft in the year-ago period. Leasing activity rose in Bengaluru, Delhi-NCR, Hyderabad, and Kolkata, but demand was lower in Mumbai, Pune and Chennai. Gross absorption does not include lease renewals, pre-commitments and deals where only a Letter of Intent has been signed. Real estate developers offer office space on lease to corporates directly. Realty firms also give workspaces to co-working companies to set up centres and then sub-lease the spaces to enterprises. According to the data, gross leasing in Bengaluru grew 11 per cent to 5.2 million sq ft during July-September from 4.7 million sq ft in the year-ago period. In Delhi-NCR, office sp
Smartworks Coworking Spaces Ltd will invest around Rs 600 crore this fiscal in its existing and upcoming centres as part of its expansion plan to meet rising demand for managed workspace. Gurugram-based listed realty firm Smartworks, which has a portfolio of 16.9 million square feet of office space across 70 centres in 15 cities across India and Singapore, posted a total revenue of Rs 1,850 crore in 2025-26. In a conference call with market analysts, Smartworks Founder and MD Neetish Sarda said, "Our capex estimate is between Rs 550 crore and Rs 600 crore for the year. This capex includes two sets: it includes refurbishment capex that we typically do in our centres after every three years and the fresh capex that will go in." Smartworks has signed up more than 3.5 million square feet of space already which is either under construction or coming up for construction, he said, he told analysts. The company had invested nearly Rs 400 crore last fiscal year in capital ...