Smartworks Expands in Mumbai with 1.82 Lakh Sq Ft Co-Working Space

Smartworks Coworking Spaces Ltd, a leading real estate firm, has taken on lease 1.82 lakh sq ft of office space in Mumbai to expand its portfolio. This move comes amid a rising demand for prime workspaces from large corporates across the city.

Smartworks, which was listed on stock exchanges last year, operates by leasing office spaces and then sub-leasing them to mainly large corporates. This business model allows the company to quickly adapt to the evolving needs of its clients and expand its footprint efficiently.

In a regulatory filing on Wednesday, the company announced that it has expanded its presence in Mumbai with the addition of 182,300 sq ft of managed office space in 'The Square,' a project developed by Lloyds Realty Developers Ltd. This strategic location is expected to attract a diverse range of enterprises looking for high-quality work environments.

Neetish Sarda, Managing Director and Founder of Smartworks, emphasized the strategic importance of Mumbai for the company. 'Mumbai remains a key market for us due to the strong demand for workspaces from enterprises across key business districts,' he stated. With the city's portfolio now surpassing 2 million sq ft, Smartworks is well-positioned to meet both current and emerging managed office requirements. 'Demand from enterprises in India's financial capital continues to remain steady, and we are confident in our ability to serve this market effectively,' Sarda added.

Smartworks currently boasts a portfolio of 15.3 million sq ft across 63 centers in 15 cities in India and Singapore. This extensive network underscores the company's commitment to providing flexible and high-quality office solutions to businesses of all sizes.

The expansion in Mumbai is a testament to Smartworks' growth strategy and its focus on capturing opportunities in high-demand markets. As more companies seek modern, efficient, and collaborative workspaces, Smartworks is poised to capitalize on this trend and solidify its position as a leader in the co-working and managed office space industry.

With the addition of this new space, Smartworks continues to set the standard for premium co-working and managed office solutions, ensuring that businesses in Mumbai and beyond have access to the best possible environments to thrive and grow.