3 days ago
Smartworks Plans ₹600 Crore Expansion Amid Strong Workspace Demand
Smartworks runs offices that companies can use without managing everything themselves.
It plans to spend about ₹600 crore to expand and improve its centres.
The company says businesses are increasingly looking for flexible, ready-to-use offices.
Smartworks has almost 17 million square feet of workspace in India and Singapore.
More than 1.5 lakh people work in its centres each day.
It serves over 760 clients, including large companies and startups.
Most of its expected FY27 income is already promised through contracts.
Its latest quarterly results showed a profit instead of a loss last year.
Smartworks plans to invest ₹550–600 crore in new and refurbished centres during FY27.
The company has signed more than 3.5 million square feet of upcoming workspace.
Smartworks operates nearly 17 million square feet across 70 centres in 15 cities in India and Singapore.
Its committed contracted revenue is approximately ₹5,400 crore, with 87% of FY27 revenue already contracted.
Smartworks reported a ₹13.14 crore quarterly net profit, while flexible workspace leasing demand continued to rise.
- Who
- Smartworks Coworking Spaces Ltd, led by Founder and Managing Director Neetish Sarda, is expanding its managed-workspace business.
- What
- The company plans to invest ₹550–600 crore in new and refurbished centres during FY27.
- Where
- Smartworks operates across 15 cities in India and Singapore, with its headquarters in Gurugram.
- When
- The plan was announced on August 30, 2026, during the company’s FY27 expansion period.
- Why
- The investment is intended to meet rising corporate demand for flexible and managed workspaces.
Key facts
- Planned FY27 capital expenditure
- ₹550–600 crore
- Existing capital expenditure
- Nearly ₹400 crore in FY26
- Workspace portfolio
- Nearly 17 million square feet across 70 centres
- Signed upcoming space
- More than 3.5 million square feet
- Clients and users
- Over 760 clients and more than 1.5 lakh daily professionals
- Committed contracted revenue
- Approximately ₹5,400 crore
- Latest quarterly profit
- ₹13.14 crore for the quarter ended June 2026, compared with a ₹4.19 crore loss a year earlier
Quotes
Neetish Sarda
Founder and managing director of Smartworks
“Our capex estimate is between ₹550 crore and ₹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.”
thehindubusinessline.com
“At 10.4 million square feet operational, we are the largest platform in the industry, and scale earns us preferred terms from landlords and lower unit costs across leasing and operation.”
thehindubusinessline.com
Sources
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