Smartworks

Smartworks' long-term agreements with landlords (around 15 years) and enterprise clients (around four years) reinforce revenue stability, supported by a 2.0x revenue-to-rent ratio.

Smartworks Coworking Spaces Ltd has narrowed its consolidated net loss to Rs 3.13 crore in the second quarter of this fiscal on higher expenses. Its net loss stood at Rs 15.82 crore in the year-ago period. Total income grew 22 per cent to Rs 441.06 crore in July-September quarter of this fiscal from Rs 360.84 crore in the corresponding period of the preceding year, according to a regulatory filing on Thursday. Neetish Sarda, Founder & Managing Director, Smartworks, said, "Our Q2 performance reflects the strength and scalability of our managed campus model. With double-digit revenue growth, expanding margins, and a negative net-debt position, Smartworks continues to deliver profitable growth at scale." Smartworks takes office spaces on rent from real estate companies to set up large campuses, which are being sub-leased to domestic and foreign companies. It has a presence across 14 cities in India and Singapore. It manages 12.7 million sq ft with 235,000+ seats as on September 30,

Smartworks has leased 815,000 sq ft from the Hiranandani Group's Eastbridge campus in Mumbai to build what it calls the world's largest managed workspace, set to open in late 2026

Smartworks Coworking Spaces Ltd on Monday said it has taken 8.15 lakh sq ft of office space on rent in Mumbai from Hiranandani Group to establish the biggest managed workspace campus in the world. In a regulatory filing, the company informed that it has signed an agreement to lease over 8,15,000 sq ft at Vikhroli in a project developed by Regalia Office Parks Pvt Ltd, the commercial office division of the Niranjan Hiranandani Group. The facility will be operational in the last quarter of 2026 calendar year. Smartworks currently has six large office campuses pan-India with an area of over 5 lakh square feet each. "Our alliance with the Niranjan Hiranandani Group for 'Eastbridge' marks a major milestone in Smartworks' journey. "With this new centre set to become the largest managed campus globally, we continue to break our own records and set new benchmarks in the managed workspace segment," Neetish Sarda, Managing Director & Founder of Smartworks, said. He said the company ...

Smartworks Coworking Spaces Ltd has launched a tailor-made solution to help foreign companies establish large Global Capability Centers (GCCs) in India. In a regulatory filing on Monday, Smartworks said it has launched 'SmartVantage', a purpose-built solution designed to accelerate the next phase of growth for GCCs in India. Smartworks will offer large-format, whole-building campuses - many spanning over 5,00,000 sq. ft. - that can be tailored to reflect the unique identity of GCCs. The company, which has a portfolio of 12 million sq ft across 14 cities in India and Singapore, through this dedicated solution will provide GCCs with multi-city continuity and faster time-to-go-live. "For GCCs, flexibility is critical - they need quick turnaround spaces with the ability to expand seamlessly as they grow, and our pan-India presence, speed to office delivery within 60 days and robust portfolio make that possible," Neetish Sarda, Founder & Managing Director of Smartworks, said. With ...

Smartworks plans to sustain 35% growth after its NSE-BSE listing, riding on robust demand for co-working spaces, expanding presence, and strong cash inflows

The Rs 583-crore initial public offer of Smartworks Coworking Spaces Ltd garnered 13.45 times subscription on the closing day of bidding on Monday. The three-day IPO received bids for 13,99,08,852 shares against 1,04,01,828 shares on offer, as per NSE data. The portion for Qualified Institutional Buyers (QIBs) attracted 24.41 times subscription. Non-Institutional Investors part got subscribed 22.78 times and Retail Individual Investors (RIIs) part received 3.53 times subscription. Smartworks Coworking Spaces has raised Rs 173.64 crore from anchor investors. The IPO of Smartworks Coworking Spaces hit the capital market on Thursday last week to raise nearly Rs 600 crore as the company intends to expand its business and reduce debt. The company has fixed a price band of Rs 387-407 per share for its IPO. 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

Smartworks Coworking IPO opens today: Analysts believe that the IPO is fully priced and recommend a "Subscribe- Long term" rating

Smartworks Coworking was the largest managed campus operator among the benchmarked operators in terms of total stock as of March 31, 2024

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

About Rs 226 crore from the total proceeds will be used for capital expenditure related to the fit-outs in new centres and security deposits for these new centres

A flex property, short for flexible property, is a hybrid of office and industrial space. It can be used as an office, retail space or warehouse

For Smartworks, the non-IT and IT services already account for 54% of their business. This is far higher than the broader real estate market, where they account for 40% of the inventor

Smartworks, which provides flexible office space, has taken on lease 56,000 square feet area in Ahmedabad to open its new centre as demand for flexible workspace from corporates rises in tier II cities. The company in a statement said it has forayed into Ahemdabad market and has taken over 56,000 square feet of office space on lease at Nehru Nagar in Ahmedabad. The new centre will open in March. Smartworks is one of the leading players in the managed office space market with a portfolio of over 7 million square feet. With expansion in Ahmedabad, the company now has presence in 12 cities. Neetish Sarda, Founder of Smartworks, said, "We are witnessing huge demand from MNCs across sectors for office spaces in these high-growth markets owing to employee flexibility and value-priced spaces with a plethora of services and amenities." After Jaipur and Indore, this is the company's third tier-II city addition to its portfolio this fiscal. "Our expansion to Ahmedabad is in line with offe

Smartworks' revenues have increased three-fold, and it aims to reach the Rs 1,000 crore revenue milestone in 2022

They are using the interregnum to expand and to negotiate cheaper real estate deals to add seating capacity

Several projects already under discussion, firm is also offering clients option to downsize or upsize across the geographies they operate in

What do you do when your business model is based on professionals sharing workspaces at a time when coronavirus crisis is snowballing?

In the coworking space, top seven operators - Cowrks, WeWork India, Awfis, Regus, Smartworks, 91springboard and OYO Workspaces - have more than 350 centres across cities in the country

Smartworks, which has 23 operational centres in 9 cities and offers 43,000 workstations over 2.3 mn sq ft, plans to grow to 20 mn sq ft and seat 200,000 professionals over the next five years