Tag: Smartworks Coworking Spaces

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Lloyds Realty Leases 182K Sq Ft Mumbai Office to Smartworks

Representative AI image NEW DELHI: Lloyds Realty Developers has entered into a 15-year lease agreement with Smartworks Coworking Spaces for its commercial property, The Square, located in Andheri East, Mumbai. This lease encompasses the full 1,82,300 sq ft of the building, achieving 100% occupancy for the asset. The deal is expected to generate rental income exceeding ₹600 crore throughout the lease period. The Square, designed by Panthaki Architects, features three basement levels, a ground floor, and nine office floors. It also includes a cafe space on the ground floor, a landscaped terrace garden, and mechanized shuttle parking. Published on Jul…

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Smartworks Coworking Posts ₹13.14 Crore Q1 FY27 Profit

NEW DELHI: Smartworks Coworking Spaces reported a net consolidated profit after tax of ₹13.14 crore for the quarter ending June 30, 2026, rebounding from a net loss of ₹4.19 crore in the same quarter of the previous fiscal year. The company’s total consolidated income surged by 44.3% to ₹559.66 crore in Q1 FY27, up from ₹387.98 crore in Q1 FY26. Normalised earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 74% to ₹107 crore, with the normalised EBITDA margin expanding by 337 basis points to 19.6%. Annualised normalised return on capital employed increased to 21.5% from 12.7%, despite a…

CommercialLatest Stories

Smartworks Leases 1,100+ Seats to L&T in Pune

Representative AI Image NEW DELHI: Smartworks Coworking Spaces has strengthened its partnership with L&T Technology Services (LTTS) by adding over 1,100 seats in Pune. With this addition, LTTS’s managed office portfolio with Smartworks has reached over 2,750 seats across various locations. The anticipated rental revenue from these expansions is projected to be around ₹115 crore, with ₹55 crore coming specifically from the Pune expansion over a 60-month period. Clients with more than 1,000 seats account for approximately 37% of its total rental revenue, while enterprise clients contribute about 90% of the company’s overall revenue. Published On Jul 20, 2026 at…

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 to Acquire Singapore’s Workstudio Spaces

NEW DELHI: Smartworks Coworking Spaces is set to acquire Singapore-based flexible workspace provider Workstudio Spaces via its wholly-owned subsidiary, Smartworks Space. This transaction is anticipated to finalize in July 2026, post which Workstudio will function as a step-down subsidiary of Smartworks. Workstudio Spaces operates an area of around 26,000 sq ft in Singapore, with established occupancy levels. The acquisition will be executed through a cash transaction, where Smartworks’ subsidiary will gain full ownership of Workstudio. The final cost is still being negotiated and will depend on the closure of transaction documents. Funding for this acquisition will come from resources within…

CommercialLatest Stories

Smartworks Leases 400+ Seats to Japanese NBFC in Mumbai

NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 400 seats with a Japanese NBFC subsidiary in Mumbai. The five-year deal is projected to yield rental revenue of ₹35 crore. Neetish Sarda, the founder and managing director, stated, “Large teams necessitate a specific set of workplace needs – they require a space that operates seamlessly, maintains consistency across touchpoints, and is scalable as the organization expands.” Clients occupying 300 or more seats represent 69% of the company’s rental income, with an average tenure of 47 months for this group. Approximately 90% of the firm’s revenue is derived from…

CommercialLatest Stories

Flexible Workspace Earnings Rise on Strong Demand, Premium Shift

RealtyDailyNews Intelligence Group reports that the four publicly traded companies in the flexible workspace sector—WeWork India Management, Smartworks Coworking Spaces, IndiQube Spaces, and Awfis Space Solutions—concluded FY26 with strong performance. This success is attributed to persistent demand from global capability centers, a trend toward premium office spaces, and increased adoption of managed office formats. These firms achieved double-digit revenue growth alongside margin improvements, projecting over 20% growth in the current fiscal year. Margin enhancements are primarily due to the maturation of centers and scaling efficiencies rather than pricing, as fixed costs are diluted over a larger occupancy base. Further margin…

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Smartworks to invest ₹70 crore for 4.92 lakh sq ft office in Bengaluru

NEW DELHI: Smartworks Coworking Spaces has secured a lease for 4.92 lakh sq ft at Sattva Aura in Bengaluru. The company announced that the expansion will necessitate an investment of approximately ₹70 crore, which will be financed through internal accruals or proceeds from an issue. As of March 31, 2026, Smartworks reported a leased capacity of 13.7 million sq ft and an operational capacity of 10.1 million sq ft, achieving an operational capacity utilization rate of 82%. With a total footprint of 16.1 million sq ft across 66 centers in 15 cities throughout India and Singapore, the company generated revenues…

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…

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UBS Signs ₹263-Crore Rental Deal for Pune’s Yerwada Tower

Global financial services firm UBS Group AG’s Indian subsidiary has signed a long-term lease for a complete commercial tower in Pune’s Yerwada area with Smartworks Coworking Spaces, with total rental costs exceeding Rs 263 crore. The managed office facility at Tech Park One on Airport Road encompasses approximately 165,290 square feet and accommodates about 1,520 workstations. The lease spans the ground through the seventh floor and began on January 15. According to property registration documents reviewed by RealtyDailyNews, UBS Business Solutions India, the subsidiary based in Zurich, will pay an initial rent of around Rs 240 per square foot per…