Managing Director
It is a privilege to present our first Annual Report as a listed company-a milestone that reflects how far we have come and the scale of the opportunity ahead.
FY25 was a defining year–our IPO in July'25, oversubscribed ~13.5x, validated the strength of our model and the trust of our stakeholders.
When we started Smartworks, our conviction was clear: enterprises need more than desks and leases. They need speed, scale, and reliability. That belief led us to pioneer India's Managed Office Platform–large-format, fully serviced campuses delivered in weeks, not years.
In doing so, we created not just offices but a new category. A model where reliability and reinvention work together–where enterprises no longer choose between scale and cost, ambition and assurance. Over time, reliability has come to mean trust in execution, while reinvention has meant continuous improvement in design, technology, and workplace experience.
From this idea, Smartworks has grown into India's largest managed office platform. As of March 31, 2025, our total footprint is 11.79 Mn. sq. ft. across 15 cities, serving 738 clients and more than 100,000 employees. Global enterprises expand with us across cities, while repeat landlord partnerships underscore the ecosystem we have built.
What defines us is an enterprise-first, de-risked model: ~88% of revenues from Enterprises, diversified across clients, cities, and sectors, with no single exposure beyond prudent limits. This structural resilience underpins our growth and stakeholder confidence.
Looking ahead, the opportunity is immense. India's growth trajectory-powered by infrastructure, GCC expansion, industrialisation, and the digital economy–is fuelling unprecedented demand for premium, flexible workspaces. Our strategy is clear: disciplined expansion into large, whole-building campuses; portfolio agility through selective management-contract and variable-rent models; and steady margin improvement through procurement leverage and value-added services.
As we pursue this growth, sustainability has become an inseparable part of our strategy. For enterprises, it is no longer optional–it is essential. Our campuses are integrating renewable energy, IoT-driven efficiency, and smart water and waste management. These initiatives not only future-proof our portfolio but also help clients meet their own ESG goals, creating shared value across the ecosystem.
At the heart of this journey are our people. The passion and commitment of the Smartworks team, spread across cities and functions, is what turns our vision into reality every single day. Their ability to deliver at speed, uphold quality, and innovate continuously has been central to building client trust and scaling our platform. Together with our clients, landlords, and partners, they form the ecosystem that makes Smartworks more than just an office provider-it is a collective force shaping the future of work.
With these foundations of reliability and reinvention, Smartworks is poised to lead the next chapter of workplace transformation–in India and beyond.
