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Managed Offices: India's Real Estate Revolution
5 Jan
Summary
- Managed workspaces are a structural shift, not cyclical.
- Smartworks eyes 38% EBITDA growth by FY28.
- Developers DLF, Panchshil, Hiranandani partner with Smartworks.
India's commercial real estate is experiencing a significant structural evolution, with managed and flexible offices now considered a fundamental growth driver. Harsh Binani, Co-founder of Smartworks Coworking Spaces, highlights this shift, emphasizing that the sector has emerged as a 'Phoenix' in the office market.
This transformation is supported by market optimism, with Kotak Institutional Equities projecting Smartworks' EBITDA to grow at a 38% CAGR through FY28. The company, already managing approximately 14 million square feet, aims to add 2.5 to 3 million square feet annually, leveraging scale as a competitive advantage.
Major developers such as DLF, Panchshil, and the Hiranandani Group are partnering with Smartworks, validating the mainstream appeal of flexible office solutions. Smartworks also reported a positive Q1 FY26, with a conscious decision to 'block supply' in Q2 FY26 to support future growth, reinforcing its self-sustaining business model and net debt-negative status.
