Managed workspace provider Smartworks is on a big expansion drive setting up centres in major cities across the country.
The company started in April 2016 has grown to 15 centres with a spread of over one million sq.ft and looking at doubling this over the next 12 months and taking this up to over 5 m.sq.ft within three years.
Launching their new facility in the IT hub of Hyderabad, a 1700 seater facility spread across 86,000 sq.ft, Neetish Sarda, Smartworks Founder, said, “There is a huge demand out there for managed workspaces and our entry as a specialised services provider for corporate clients has helped us grow rapidly.” “Seventy per cent of the Hyderabad facility is pre-booked, owing to increased demand for shared workspaces,” he said.
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“In just about two years, we now have 15 centres across the country in major cities, with the smallest being a 9000 sq.ft facility at Lower Parel and the biggest a 3 lakh sq.ft facility in Bengaluru. And we are looking not only growing in the major cities we are present but also Tier II centres,” Sarda and Harsh Binani, Co-Founder said detailing the company journey.
Unlike the traditional co-working model, Smartworks business is focussed on managed workspaces targeted at corporates rather than individuals. Majority of the company clients such as Tata Communications, Microsoft, Arcelor Mittal, Amazon, Carrier, Otis continue to be engaged with us and also look to work with them as they take to new centres, Sarda explained.
Smartworks has invested more than $ 20 million (about ₹140 crore) and plans to deploy about $12-15 million over the next six months as it expands to new centres. “We are also looking to raise up to $20-30 million which will enable us to expand and the take the company to the next level,” they said.
“Our approach to workspace business is different from others who provide co-working spaces. We design workspace to suit a company and they get to work and function in an environment they would like it to be. This model is preferred by corporate clients,” Sarda said.