Smartworks

What Smartworks does

Smartworks Coworking Spaces Limited (NSE: SMARTWORKS) is India's largest managed office platform by total area under management, operating 16.1 million sq ft across 66 centers in 15 cities spanning India and Singapore. Founded in 2016 by Neetish Sarda and listed via IPO in July 2025, the company runs an asset-light, lease-based model in which it takes long-duration master leases on entire buildings or large floor plates, fits them out into custom-designed offices, and sub-leases them to enterprise clients — primarily Global Capability Centres, Fortune 500 firms, and high-growth companies requiring mandates of 300+ to 1,000+ seats under 3–5 year contracts averaging ~47 months for large clients.

The company's core offering is its "Design.Build.Manage" managed office service delivered in 60 days, supplemented by a Technology Solutions platform for integrated property management and client experience, value-added services (cafeterias, gyms, crèches, medical centres, wellness centres), and large campus deployments. The recently launched Smartvantage product and the People 360D alliance extend the proposition beyond physical space into integrated GCC experience and talent services.

Revenue is generated through monthly rental payments under long-term enterprise contracts, complemented by value-added service fees. FY26 revenue of Rs 1,796 crore (31% YoY growth) was accompanied by the company's first full-year PAT profit of Rs 11 crore, reversing a Rs 63 crore loss in FY25, with FY27 contracted rental revenue already exceeding Rs 5,200 crore. With ~69% of rental revenue from 300+ seat clients, 770+ enterprise customers, and 93% committed occupancy on mature centres, the business model is anchored on long-tenor, high-value enterprise deals rather than transactional coworking.

Name

Smartworks

Legal name

Smartworks Coworking Spaces Limited

Website

https://smartworksoffice.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Smartworks is India's largest managed office platform, operating 16.1M sq ft across 66 centers in 15 cities. It leases whole buildings and sub-leases custom-designed, fully managed workspaces to Global Capability Centres, Fortune 500 firms, and high-growth enterprises under multi-year contracts.

Ownership category

akta.pro rank

Product category

Managed Office Space

NAICS

Interior Design Services (541410)

SIC

Office Furniture (2520)

akta.pro primary industry

Workplace Technology & Smart Office Support (Room Booking Systems, IT/AV Liaison) (IMAIALAK)

akta.pro secondary industries

Move Management (Office Relocations) (BPABAFAC), Space Planning & Workplace Design (BPAHAKAI)

Keywords

• Managed office space
• Flexible workspace
• Enterprise coworking
• Office leasing
• Workspace services

Headquarters

HQ city

Noida

HQ country

India

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Managed Office Space Leasing: Smartworks operates a lease-based asset-light model where it leases entire office buildings or large floor plates and converts them into fully managed workspaces, sub-leasing to enterprise clients. Revenue is generated through monthly rental payments from enterprise occupiers under long-term contracts typically ranging from 3-5 years. The company reports contracted rental revenue exceeding Rs 5,200 crore for FY27.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Smartworks leases entire office buildings or large floor plates and converts them into fully managed, custom-designed workspaces, which it sub-leases to enterprise clients under long-term (typically 3–5 year) contracts. It operates a 'Design.Build.Manage' model delivering tailor-made offices in 60 days across 15 cities in India and Singapore, supported by integrated technology platforms, large amenity-rich campuses, and value-added services for occupants.

Product overview

Smartworks is India's largest managed office platform offering a unified product architecture centered on fully managed office spaces for Global Capability Centers (GCCs), large corporations, and high-growth companies. The core offering is the Managed Office Spaces service, supported by Technology Solutions for operational efficiency, Value-Added Services (VAS) for employee amenities, and Large Campus Solutions for enterprise-scale deployments. The company operates a 'Design.Build.Manage' model delivering custom-designed offices within 60 days across India and Singapore.

Differentiator

Problem solved

Functional benefit

Products and services

• Managed Office Spaces Fully managed, custom-designed office spaces leased to enterprises under multi-year contracts (typically 3-5 years), delivered in 60 days across 15 cities in India and Singapore. Targeted at GCCs, Fortune 500 companies, and high-growth enterprises needing 300+ to 1,000+ seat mandates.
• Smartvantage A dedicated product offering designed to boost Global Capability Centers (GCCs) in India, supporting multinational corporations establishing or expanding India operations through Smartworks' managed office platform.
• Large Campus Solutions Modern, aesthetically designed large-format campuses featuring technology infrastructure and amenities such as cafeterias, sport zones, smart convenience stores, gymnasiums, crèches, and medical centres for enterprise occupiers.
• Value-Added Services (VAS) Thoughtfully designed workplace services including catering, retail, gyms, and wellness centres that complement Smartworks' managed offices and align with modern enterprise and employee aspirations.

Named customers23 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered strategic and core.

• Workstudio SpacesstrategicStrategic or Co-development Partner · 26 June 2026Smartworks has agreed to acquire Singapore-based Workstudio Spaces Pte. Ltd. through its wholly owned subsidiary Smartworks Space Pte. Ltd., with completion expected in July 2026 pending regulatory approvals. The acquisition will expand Smartworks' Singapore portfolio to 4 centers covering approximately 76,000 sq ft with capacity for over 1,500 seats, more than doubling its presence in Singapore.
• People 360DcoreStrategic or Co-development Partner · 31 March 2026Smartworks and People 360D launched a strategic alliance to provide integrated workplace experience solutions for Global Capability Centers (GCCs) in India, addressing the needs of over 2 million employees. The partnership aims to enable faster setup, seamless hiring, and scalable infrastructure to improve operational efficiency and support India's growing GCC market, projected to reach $65 billion by 2030.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Awfis: Indian listed managed office and coworking provider offering flexible workspaces across tier-1 cities. Closest direct competitor to Smartworks in India's enterprise managed office space.
• WeWork India: Indian arm of WeWork, operating large-format flexible workspaces for enterprises and startups. Direct competitor in India's enterprise and SME flex workspace segments.
• Indiqube: Indian managed office and coworking provider serving enterprise clients across multiple cities. Competes directly with Smartworks for enterprise mandates.
• Table Space: India's largest managed office operator by some measures, offering custom-built enterprise workspaces. Comparable large-format, long-tenure enterprise model to Smartworks.
• IWG (Regus): Global flex workspace operator (Regus, Spaces, HQ brands) with established presence in India. Competes for enterprise and SME workspace mandates with a global network advantage.
• The Executive Centre: Premium flexible workspace provider across Asia-Pacific, with strong presence in Singapore. Directly comparable to Smartworks in Singapore and the broader premium enterprise segment.
• GoWork: Indian coworking and managed office provider with presence in major Indian cities. Competes in the SME and enterprise flex workspace segment.
• JustCo: Asia-Pacific coworking and flexible workspace provider with strong Singapore presence. Comparable to Smartworks in its Singapore operations and broader APAC enterprise segment.

Broad incumbents

• Mindspace REIT: Indian listed office REIT owning and leasing commercial office properties. While not a flex operator, it represents the traditional commercial real estate supply against which Smartworks competes for enterprise tenants.

Emerging players

• Hubble (Hireavilla): Indian flex workspace marketplace and operator focusing on curated office spaces for SMEs and growing companies. Emerging player in the Indian flex workspace segment with partial overlap to Smartworks' offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/smartworksind

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Smartworks