Smartworks Targets 3.5M Sq Ft Expansion Amidst Demand Surge

Smartworks is set to invest between Rs 550 crore and Rs 600 crore this fiscal year as part of its ambitious expansion strategy. The company has already committed to leasing over 3.5 million square feet of space, with construction underway or planned, to accommodate the growing demand for managed workspaces.

This capital expenditure will support both the refurbishment of existing centers and the development of new facilities. Smartworks, which operates 70 centers across 15 cities in India and Singapore, reported a total revenue of Rs 1,850 crore in the 2025-26 fiscal year.

The company's business model involves leasing entire buildings from developers and transforming them into fully managed, amenity-rich campuses. With a portfolio of 16.9 million square feet, Smartworks serves over 760 clients, including Fortune 500 and Forbes 2000 companies, and has seen its net profit rise to Rs 13.14 crore for the quarter ended June, compared to a loss in the previous year.

Market observers note a significant increase in coworking space rentals, with operators leasing 8.6 million sq ft in the first six months of the year, up 32% year-on-year. This trend highlights the strong corporate demand for flexible workspace solutions.