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Smartworks: India's Coworking King on Fast Track
2 Dec
Summary
- Smartworks achieves 6x growth via asset-light strategy.
- Leases entire buildings from HNIs, family offices.
- Focus on enterprise clients fuels sustainable growth.
Smartworks Coworking Spaces has redefined India's managed office sector, achieving an impressive sixfold growth within four years. This expansion is fueled by a strategic asset-light model that focuses on securing prime Grade-A properties across major Indian cities through building-wide leases.
The company predominantly partners with non-institutional landlords, including high-net-worth individuals and family offices, which constitute 76% of its portfolio. This approach allows Smartworks to negotiate favorable terms, maintain cost efficiencies, and achieve significant economies of scale, evident in its low capital and operational expenditures.
Smartworks primarily serves large enterprises, with clients such as Google, Groww, and EY contributing substantially to its revenue. This client-centric model, emphasizing long-term contracts, underpins the company's trajectory towards sustained financial performance and market leadership.
