Smartworks Expands with Major Lease to Wolters Kluwer in Pune

Smartworks Coworking Spaces Ltd has signed a lease agreement for 1.66 lakh sq ft office space with Wolters Kluwer (India) Pvt Ltd in Pune. The company, which manages 12.7 million sq ft across 14 cities, targets large enterprises with its expansive campuses.

Founder and Managing Director Neetish Sarda emphasized the growing demand for scale and a consistent experience across locations. Smartworks has seen its 1,000+ seats cohort increasing from 12% to 35% of rental revenue, driven by enterprise client needs.

In a promising financial update, Smartworks reported a narrowed consolidated net loss of Rs 3.13 crore in the latest fiscal quarter, compared to Rs 15.82 crore the previous year. The company's total income rose by 22% to Rs 441.06 crore.

Smartworks' expansion strategy is not just about increasing physical space but also about enhancing the quality of services and amenities. The company has been focusing on providing state-of-the-art facilities and a seamless experience for its clients, which has been a key factor in attracting and retaining large enterprises.

Wolters Kluwer, a global leader in information and technology solutions, is expanding its presence in India to meet the growing demand for its services. The new office space in Pune will accommodate the company's growing workforce and support its operations in the region.

Smartworks' success in securing this lease with Wolters Kluwer is a testament to its strategic approach and the value it offers to large enterprises. The company's focus on providing flexible, high-quality office spaces has resonated well with businesses looking to optimize their real estate costs and enhance productivity.

As the demand for flexible workspaces continues to grow, Smartworks is well-positioned to capitalize on this trend. The company's robust expansion plans and financial performance indicate a strong future for the brand in the coworking space market.

(With inputs from agencies.)