Tag: co-working spaces

CommercialLatest Stories

Smartworks Leases 930+ Seats to Pune Professional Firm

Representative AI image NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 930 seats in Pune with the Indian subsidiary of a UK-based global professional services and technology firm. This agreement brings the client’s total seat count with Smartworks to more than 1,730. The 60-month contract is projected to generate committed rental revenue of approximately ₹58 crore. When combined with the existing agreement, the total rental commitment is expected to reach around ₹102 crore. Clients with 300 or more seats contribute about 69% of the company’s rental revenue, maintaining an average tenure of approximately 47 months. Multi-city clients…

CommercialLatest Stories

Smartworks Reports ₹10.52 Crore Net Profit in FY26

NEW DELHI: Smartworks Coworking Spaces has announced a net consolidated profit of ₹10.52 crore, with total income amounting to ₹1,849.90 crore for the financial year 2025-26. In Q4 FY26, the company’s net consolidated total income reached ₹532.70 crore, while profit after tax was ₹16.62 crore. The company reported a net debt of -₹56 crore, concluding FY26 with net cash and a reduction in gross debt by over 50% since its IPO. The cost of borrowing dropped below 9%, decreasing approximately 180 bps year-on-year. Neetish Sarda, the founder and managing director, stated, “This year, we became the first listed flex workspace…

CommercialLatest Stories

Co-Working Spaces Create GST Registration Challenges

AHMEDABAD: Businesses utilizing co-working spaces and seeking GST registration are experiencing heightened scrutiny from tax authorities throughout the state. Despite such registrations being legally acceptable, officials are showing caution, particularly when multiple companies share the same address, often suspecting the existence of shell companies or fraudulent entities aimed at tax evasion. Applicants report that government officials frequently request proof of exclusive office space possession, despite co-working arrangements providing licensed access to desks and cabins rather than formally leased premises. In numerous cases, GST applications have been denied because another business is already registered at that location. Chartered accountant Karim Lakhani…

CommercialLatest Stories

BHIVE Workspace Leases 1.4 Lakh Sq Ft at Phoenix Asia Towers

NEW DELHI: BHIVE Workspace has secured a lease for 1.4 lakh sq ft of office space at Phoenix Asia Towers, located in Hebbal, North Bengaluru. The company has plans to introduce another one million sq. ft. of office space by 2026, accompanied by an overall investment of around ₹250–300 crore. “We are vigorously expanding our campus footprint, with nearly 1 million sq. ft. of new capacity to be added in 2026,” stated Shesh Rao Paplikar, the founder and CEO of the company. The new center will accommodate over 2,600 professionals and will feature a variety of options including co-working spaces,…

CommercialLatest Stories

India’s Flexible Office Space Market Set for Major Growth

NEW DELHI: Publicly listed flexible office space operators are poised to account for nearly half of India’s flexible office market, projected to reach 100 million sq ft by year-end. Currently, four operators have gone public, with at least three more IPOs anticipated in this sector. According to the investors’ presentation from Smartworks, Awfis, WeWork, and Indiqube—all listed companies—these firms collectively manage over 30 million sq ft of operational space. Smartworks, boasting 9.2 million sq ft of operational area as of December 2025, is expected to be the first flexible workspace provider to exceed 10 million sq ft by March 2026,…

CommercialLatest Stories

Awfis Sees 42.72% Profit Surge in Q3 FY26

NEW DELHI: Awfis Space Solutions has announced a 42.72% increase in its net consolidated profit for the quarter ending December 31, 2025. The profit after tax reached ₹21.65 crore in Q3 FY26, compared to ₹15.17 crore during the same period last year, according to a BSE filing. The company’s net consolidated total income for Q3 FY26 was ₹410.95 crore, showing a growth of 23.98% from ₹331.46 crore in the corresponding quarter of the previous year. Amit Ramani, Chairman and Managing Director, stated, “In this quarter, we opened 10 new centers, increasing our total network to 257 centers with 177,000 seats…

CommercialLatest Stories

WeWork India Adds 3,300 Desks in Hyderabad with ₹100 Cr Investment

NEW DELHI: WeWork India Management has signed a lease agreement to enhance its footprint in Hyderabad, adding a total of 250,348 sq ft. This planned expansion aims to introduce approximately 3,300 desks, with operations anticipated to begin by June 2026. The initiative involves an estimated investment of ₹100 crore, which will be sourced from a mix of debt and internal funds, according to the company. The company currently runs 121,638 desks with an impressive overall utilization rate of 83.9%, highlighting robust occupancy levels in its portfolio. The firm reported a revenue of ₹640.3 crore for Q3 FY26, reflecting a 27%…

CommercialLatest Stories

Smartworks Coworking Reports ₹1.24 Crore Profit in Q3 FY26

NEW DELHI: Smartworks Coworking Spaces Ltd has declared a consolidated net profit of ₹1.24 crore for Q3 of this fiscal year, driven by increased revenue. The company, which went public last year, reported a net loss of ₹16 crore during the same period last year. For the October-December period of the 2025-26 fiscal year, total income surged by 34% to ₹488.14 crore, compared to ₹363.62 crore in the corresponding quarter of the previous year, as stated in a regulatory filing on Thursday. Over the first nine months this fiscal year, net losses decreased to ₹6 crore, down from ₹54.87 crore…

CommercialLatest Stories

Flexible Workspace Stock to Exceed 100M Sq Ft by 2027

Representative AI image NEW DELHI: India’s flexible workspace market is poised for significant growth over the next two to three years. Flex office space across the top seven cities is expected to exceed 100 million sq ft by 2027, rising from 72.3 million sq ft in 2025, as reported by Colliers India. As operators continue to expand, the percentage of flex space in the overall office market is projected to increase from 8.5% in 2025 to 10.5% by 2027. This growth will be fueled by rising enterprise demand, with the average annual seat uptake anticipated to grow by 25% to…

Latest StoriesRegulatory

Bombay HC Dismisses WeWork India IPO Challenge, Imposes ₹1 Lakh Fee

MUMBAI: The Bombay High Court has dismissed two writ petitions filed by Vinay Bansal and Hemant Kulshrestha that aimed to prevent WeWork India’s initial public offering (IPO), effectively ending their last-minute legal challenge. A Division Bench consisting of Justice RI Chagla and Justice Farhan Parvez Dubash rejected the petitions and imposed a cost of Rs 1 lakh on Vinay Bansal, instructing him to deposit the amount with the Maharashtra State Legal Services Authority within two weeks. The court reserved its decision on October 8 after the arguments were concluded and delivered the ruling orally today. A detailed written judgment is…