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Flexible workplace operators lease 52% more office space in Jan-June at 4.6 mn sq ft: CBRE

Bengaluru: The need for workspace efficiency and a collaborative work environment has increased demand for flexible office space for the first half of 2019.

The overall flexible space take-up in India reached about 4.6 million sq. ft in H1 2019, up 52% over the same period last year. During this period, Bangalore accounted for almost 30% of the leasing by flexible space operator, said a recent report from CBRE.

This is primarily a result of established corporates leasing large-sized spaces in recent times, in order to provide ‘free addressing’ options as well as improve the agility of their RE portfolios.

“India is currently one of the leading flexible space markets in APAC and we expect increasing investments in this segment going forward. Office stock is expected to grow from 600 mn sq. ft. in mid-2019 to a billion sq. ft. by end of 2030 and flexible space will comprise 8-10% of the total office stock,” said Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE.

Some of the large transactions during the first half of 2019 includes Smartworks leasing 2,90,000 sft in Delhi-NCR and WeWork renting 2,85,000 in Mumbai.

Top cities driving the demand are Delhi-NCR, Bangalore and Mumbai. The number of small- to medium-sized deals of 20,000 – 100,000 sq. ft rose from 52% in H1 2018 to 61% in H1 2019. Moreover, the number of large-sized deals exceeding 100,000 sq. ft increased from 6% to 13% y-o-y in H1 2019.

About Smartworks: 

Smartworks is India’s largest provider of agile workspaces, with a footprint of 2.8 million sq. ft. across 23 locations in 9 cities (Delhi NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune) catering to more than 600 organizations across large enterprises, SMEs and start-ups. Founded in April 2016, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology and customer delight experience. Smartworks is also the only Indian agile workspace provider to have become profitable in India.

Central to this ambition is the company’s motto, ‘Workspaces that work for you’, with the vision of creating the perfect environment by just not building communities, but also ensuring their member employees are productive in the workplace.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255

The ever-growing popularity of ‘cool’ coworking space

Pocket friendly places

Started a new company, on a shoestring budget but need a fancy office with all the amenities? Then coworking spaces is what you’re looking for. The popularity of coworking setups is growing in India with WeWork opening its offices all across the country. Innov8, Awfis, SmartWorks and CoWrks are some of the well-known names and now Oyo has jumped into the fray with OYO Workspaces. (Pic: Innov8/Facebook)

A natural draw for all

Co-working spaces are a natural draw, enticing startups and even big companies looking for flexible office space. Many feel with India becoming the third-largest startup hub in the world and the second-largest freelancer workforce in the world, there is a huge potential demand for co-working spaces in the country. The market is huge and expanding. Currently, 46 per cent of India’s workforce is millennials looking for tech-smart offices. They embrace collaboration opportunities, giving a window to co-working players to expand. (Text: Mamta Sharma/ET Contributors) (Pic: Awfis/Facebook)

A flexible place to work

The idea of flexible workplaces has evolved over the year. Over the past one and half years, the co-working ecosystem has undergone massive changes. Co-working is no longer perceived as a new-age workplace practice, suitable only for startups and SME. The office rental costs continue to rise across business districts and co-working platforms across the board see great opportunity for the sector to generate profit from rising demand for flexible, innovative and collaborative workspace designs. The demand for these spaces has been propelled by a burgeoning shared and gig-based economy, startups looking for cost-effective workspaces and even large corporates looking to expand operations across new markets in an inexpensive manner. (Text: Mamta Sharma/ET Contributors) (Pic: SmartWorks/Facebook)

WeWork and its growth story

One of the companies leading the co-working space segment is WeWork. In two years the company has got 21 locations in India and the latest coming up in Noida, the US-based co-working giant recently renamed the We Company, is showing how the popularity of co-working spaces in growing. The startup is all set for its initial public offering even as it revealed a net loss of $690 million in the first six months of this year. (Pic: WeWork/Facebook)

How ‘cool’ are these amenities

Another co-working space, GoWork, owns its campuses and doesn’t rent them. Co-working spaces membership fees vary based on the type and amount of services availed by the users and can be collected on a daily, weekly, monthly, quarterly or yearly basis. The amenities provided here can include local businesses like local gyms, technical equipment providers, caterers, etc. (Text: Mamta Sharma/ET Contributors) (Pic: GoWorks/Facebook)

Meet the newest Unicorn

A newly-minted unicorn, Knotel, wants to give WeWork a run for its money. The coworking startup raised $400 million at a valuation that catapults the startup to unicorn status. One key difference between the startup and WeWork is that Knotel only counts large companies such as Starbucks Corp., Microsoft Corp., Oracle Corp., AT&T Inc. and BP Plc as clients. Founded in 2016, Knotel spans more than 4 million square feet of flexible workspace. Its leases have a weighted-average term of more than two years and a cohort of more than 100 desks. (Text: Bloomberg) (Pic: Knotel/Facebook)

About Smartworks: 

Smartworks is India’s largest provider of agile workspaces, with a footprint of 2.8 million sq. ft. across 23 locations in 9 cities (Delhi NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune) catering to more than 600 organizations across large enterprises, SMEs and start-ups. Founded in April 2016, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology and customer delight experience. Smartworks is also the only Indian agile workspace provider to have become profitable in India.

Central to this ambition is the company’s motto, ‘Workspaces that work for you’, with the vision of creating the perfect environment by just not building communities, but also ensuring their member employees are productive in the workplace.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255

Smartworks to raise $35 million growth fund

To increase the portfolio to 5 million sqft by the end of this fiscal year.

Homegrown shared office space provider Smartworks plans to raise USD 35-40 million in a mix of debt and equity to fund its plans to nearly double the portfolio to 5 million sqft by March, a top company official has said.

The three-year-old Noida-based company is also eyeing a twofold increase in revenue for the fiscal to ₹ 320 crores, managing director Neetish Sarda told PTI.

“With 2.8 million sqft, we are the second largest after the multinational Wework which has around 3 million of space under its portfolio.

We now plan to increase the portfolio to 5 million sqft by the end of this fiscal year for which we will be investing close to USD 35-40 million which will be mopped as equity and debt.

“Access to funds from banks and institutions like NBFCs is easy. A lot of private equity investors are also approaching us and we are evaluating them, but we cannot disclose more that at this moment,” he said.

Last year the company closed with revenue of about ₹ 110 crores with a profit margin of around 10 per cent.

“Our pan-India rentals on average are about ₹ 10,000 a seat. We are confident of closing this fiscal with ₹ 320 crore topline and profit margin of 20-30 per cent,” Sarda said.

The company, which is currently present in nine cities including Delhi-NCR, Mumbai, Hyderabad, Bengaluru and Pune among others, is also planning to expand into small towns.

“Our immediate focus is consolidating in these nine cities. Then we will also enter one or two small towns but that is not going to be of significant scale… we will enter with 20,000-40,000 sqft size,” he said.

He said the company will continue to focus on enterprises or MNCs as they offer better margins.

It competes with Wework, Regus, Cowrks, Awfis, Oyo Workspace, Goodworks, Gowork, Skootr, Indiuube, Avanta, 91 Springboard, Creator’s Gurukul, Gohive, Oneculture, Plus Offices and Spring House Coworking among others.

Over the weekend, yet another foreign company entered the already cluttered co-working space with the entry of Thailand’s realty major MQDC, which opened its first centre– Whizdom Club–in Greater Kailash-II in south Delhi in a 22,000 sq ft area leased out from DLF and offers 400 seats.

About Smartworks: 

Smartworks is India’s largest provider of agile workspaces, with a footprint of 2.8 million sq. ft. across 23 locations in 9 cities (Delhi NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune) catering to more than 600 organizations across large enterprises, SMEs and start-ups. Founded in April 2016, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology and customer delight experience. Smartworks is also the only Indian agile workspace provider to have become profitable in India.

Central to this ambition is the company’s motto, ‘Workspaces that work for you’, with the vision of creating the perfect environment by just not building communities, but also ensuring their member employees are productive in the workplace.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255

office space for rent

Why Are Large Corporates Going The Co-Working Way?

Flexible, co-working spaces too will gradually evolve around the world with traditional workplace designs to co-exist as part of more hybrid places for everyone to work from.

With technology continuing to place people at the centre of their workplace, location is no longer dictating where we go to work anymore. Mobility and flexibility are increasingly rewriting office space demand, turning corporate real estate (CRE) strategies agile and future-forward. What used to be identified as part of the high-energy, collaborative and creative start-up environment has today spread to include large corporate entities as well.

Co-working spaces typically offer flexible tenure and cost structures that traditional leased office spaces cannot offer. The co-working revenue model also demands that it earns more on a per square feet basis for its property than what it was leased for. This ongoing need for co-working spaces to stay on the cutting edge of workplace design to attract and retain occupiers, especially millennials, is what has attracted mainstream CRE tenants to it in recent years. The flexibility of this new workspace, together with the flexibility it offers companies to increase or reduce their capacity and/or costs have become highly attractive propositions for corporate clients today.

Cost and capacity aside, the primary drivers of co-working spaces continue to be the equally heady combination of an improving work-life balance, greater employee productivity and talent retention. To this end, the number of co-working spaces across the world has today risen by 3,050% since 2010, while the number of people working out of such flexible facilities has exploded by nearly 8,000% during the same period, growing from 21,000 seats to nearly 2 million!

The Co-Working Revolution in 2019

At present, India is standing at the threshold of a major workspace disruption trend, with several large co-working players spread across the country. There are close to 200 co-working operators running an estimated 400-plus shared workspace across the country today. In keeping with demand, moreover, 2018 saw a significant rise in flexible office spaces across leading cities in India.

According to CBRE’s latest market reports, more than 6 million sq. ft. of the investment-grade flexible workspace was absorbed during 2018, translating into more than 50% growth in such space take-up over the previous year. The year also saw a surge of flexible and co-working space operators entering into the CRE space with fresh offerings. Continuing with the trend, nearly 3 million sq. ft. of flexible office space in the leading cities were leased out in Q1 2019, translating into a 277% year-on-year rise in absorption levels. Of this, more than 40% was leased out by flexible space operators in Bangalore alone.

Agility on the Razor’s Edge

The new office space eco-system has given rise to co-working resulting in, an emerging platform that encompasses start-ups as well as large multi-national corporations to intermingle in a dynamic space. In fact, co-working spaces that originated as a shared service for start-ups, are today increasingly being used by large corporates to add to their agility requirements amid a volatile business environment. To stay relevant in these rapidly changing times, established entities have been emulating start-up policies, such as adopting flexible spaces to reduce costs and add agility to their real estate portfolios.

So what has it taken in recent years for co-working hot desks to turn into hot property for C-suite firms in India? What factors have kept these flexible facilities on the cutting of the market, constantly attracting and retaining occupiers? Here are a few telling trademarks:

#1. Cost Reduction: Cost reduction is a primary factor for large companies, start-ups as well as individual professionals using flexible office spaces. Flexible space solutions are conducive to space efficiency, the key to cost management across the globe. The negligible upfront costs over a traditional lease model as well as short-term options are seen as a major advantage for co-working spaces. In fact, despite additional charges for using shared services, such as meeting rooms, most flexible space users report a reduction in their overall workplace costs.
C-suite firms today are also actively building agility into their workplace designs as well as leasing structures. Such ‘agile’ commercial terms are one of the key reasons for large corporates choosing flexible spaces. These considerations include shorter lease terms when compared to traditional office space leases, with added flexibility in expansion and contraction options in later years.

#2. Talent Retention: Corporate entities today are quickly recognising the advantages of offering employees flexibility at work. The ability to work from multiple locations, sometimes even allowing for ‘walk-to-work’ options, along with excellent amenities has helped in retaining as well as attracting talent. In addition, the worsening traffic and increasing commute to and from work across most leading cities have been having a negative impact on office goers in India.

As for India’s millennials, their overall ‘workplace experience’ is a major determining factor for accepting a place of employment. According to industry experts, millennials are willing to go the extra mile or even take a pay cut for a better work environment! With the new-gen forming one-fourth of the country’s working population, their preferences are bound to shape tomorrow’s workspaces.

#3. Creativity & Collaboration: Workplace strategies a decade or so ago involved the introduction of collaborative spaces over private spaces as part of evolving office formats. That design concept did not entirely work around the globe, and the new normal is a more equitable balance between private/creative and communal/collaborative spaces. The vibrant environment of a co-working office is a major attraction because it integrates design, amenities and communities to create a unique space where people want to be. New workspace designs that create an atmosphere that fosters collaboration, creation, innovation and productivity is a win-win for all stakeholders.

#4. Tech Advances: Advances in technology are what are allowing companies worldwide to create remote working options for their people by implementing multi-cloud computing strategies. Co-working users can increasing access data and work efficiently from multiple locations, fuelling the growth of flexible spaces. Cloud computing has perhaps emerged as the second most preferred technology after automation, among the top tech solutions impacting business operations today. In addition, the ability to outsource data storage on to a cloud at flexible workspaces is an attractive factor for start-ups operating on a shoestring budget.

Co-working Spaces: the New Disruptors

Although flexible and co-working spaces are becoming increasingly acceptable options for most entities operating out of India’s leading cities, it remains a sector-specific trend.

Disruptors like co-working offices may be compared with e-retailers who were initially seen as disrupting the traditional and established retail space. Today, however, both formats co-exist as essential omnichannel experiences for modern shoppers. Flexible, co-working spaces too will gradually evolve around the world with traditional workplace designs to co-exist as part of more hybrid places for everyone to work from.

Disclaimer: The views expressed in the article above are those of the authors’ and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

Neetish Sarda- Founder of Smartworks.

About Smartworks: 

Smartworks is India’s largest provider of agile workspaces, with a footprint of 2.8 million sq. ft. across 23 locations in 9 cities (Delhi NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune) catering to more than 600 organizations across large enterprises, SMEs and start-ups. Founded in April 2016, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology and customer delight experience. Smartworks is also the only Indian agile workspace provider to have become profitable in India.

Central to this ambition is the company’s motto, ‘Workspaces that work for you’, with the vision of creating the perfect environment by just not building communities, but also ensuring their member employees are productive in the workplace.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255

India’s leading Sports Management Institute IISM moves into Smartworks, Mumbai

Smartworks becomes the first managed office space provider to configure workspace for an Education Institute

IISM offers specialized degree programs in association with the University of Mumbai

Mumbai, August 12th, 2019: Smartworks has become India’s first agile workspace space provider to apply space as a service for classroom training. The firm has leased out 25000 sq.ft to Nilesh Kulkarni’s International Institute of Sports Management (IISM). For the first time, a management education institute has moved into an agile workspace, which otherwise is usually occupied by enterprises, start-ups, and freelancers. Smartworks has a total footprint of 2.8 million sq. ft. across 23 locations in 9 cities and is the only Indian bootstrapped workspace provider to have become profitable.

With IISM in Smartworks’ facility at Fleet House in Mumbai’s Andheri locality, the market leader in enterprise onboarding has brought in a completely untouched sector, Education, into the rapidly growing ambit of co-working spaces. This new addition will change the way shared workspaces were perceived; they are not just for working but for learning as well.

IISM, founded by former Indian Test cricketer Nilesh Kulkarni, is the foremost institute involved in the most unexplored education avenues to meet the demands of the growing sports industry. Imparting excellence in the sports educational sector for 10 years, IISM has emerged as one of the best institutes for sports management education in India. The education institute will be conducting classroom training for specialized degree programs namely Bachelor of Sports Management and Master of Sports Management in association with the University of Mumbai and 11 months autonomous Post-Graduation Program in Sports and Wellness management within the Smartworks premises with over 500 students.

The facility is now booked more than 90% and has a total footprint of almost 1 lakh sqft in Mumbai. It provides close proximity to business district Bandra- Kurla complex and the Western Expressway and currently hosts a mix of corporates such as CRISIL, Marsh Insurance, NEC Technologies to name a few.

“We are excited to have India’s most prestigious Sports Management institute in Smartworks. We have yet again proved our capability of configuring spaces as per client requirements irrespective of the business domain. With this first of its kind association between an education institute and Smartworks, we are certain that these spaces will become the next classrooms soon. We remain committed to providing unmatched experience and solutions to businesses that will help them boost the company as well as industry growth to remain productive and further the step towards innovation in the country,” said Neetish Sarda, Founder of Smartworks. 

 Commenting on the recent move-in Nilesh Kulkarni, Founder IISM, said, “At IISM we believe in nothing but the best when it comes to imparting education to our students so that they learn and grow. We want our students to meet their aspirations in an environment where they are pumped up with energy and positivity. Our ultimate goal is to ensure an atmosphere for them so that they stay active, productive and lively throughout their sessions. IISM campus has eight 30-seater to 120-seater classrooms, an exclusive research lab for our students, a cafeteria with a vibe where students can enjoy break time and common breakout areas for students to unwind themselves during free-time. Given that the facility is centrally located in the city, adjacent to Marol metro station, it is convenient for the students to access any mode of transportation for commuting which makes the location a strategic fit for our institute.”

Smartworks has created a niche for itself in the co-working space industry by bringing enterprises into the purview and leasing entire floors to the latter.

“We are witnessing growing interest from corporates in Mumbai across sectors including IT, sports, banking and e-commerce among others. The large demand stems from the benefits and array of facilities provided to our members across our centers which include state-of-the-art infrastructure, vast opportunities to network and exchange ideas, a productive work environment, and services which ensure a happy and stress- free workspace,” Neetish added.

Since its inception in April 2016, Smartworks has been aggressively expanding its footprint across key cities in India due to the growing demand for agile workspaces. Technologically sound while focusing on customer delight, encouraging collaboration, ease of doing business and overall community building for enhanced productivity remain Smartworks’ key focused areas while serving customers.

About Smartworks: 

Smartworks is India’s largest provider of agile workspaces, with a footprint of 2.8 million sq. ft. across 23 locations in 9 cities (Delhi NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune) catering to more than 600 organizations across large enterprises, SMEs and start-ups. Founded in April 2016, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology and customer delight experience. Smartworks is also the only Indian agile workspace provider to have become profitable in India.

Central to this ambition is the company’s motto, ‘Workspaces that work for you’, with the vision of creating the perfect environment by just not building communities, but also ensuring their member employees are productive in the workplace.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255

Smartworks consolidates Market Leadership position in Chennai and Pune Pan India footprint reaches 2.8 million sq.ft

Chennai/Pune, July 25, 2019: Continuing its dominance as the preferred agile workspace provider among the enterprises, Smartworks has emerged as the market leader in Chennai and Pune on a consolidated basis; boasting a growing footprint of 6 lakh sq. ft., spread across 8 facilities. Reaping the benefits of being early entrants in these micro markets, Smartworks today drives one-third of its revenue from these cities with over 11,000 seats. Anticipating the growing demand for shared office spaces, the firm plans to increase its footprint by adding more than 2 million sq. ft. in these micro markets by 2021.

Single minded focus on value creation for clients, quality of services, state of the art infrastructure, design and tech enabled spaces has helped the firm consolidate its leadership position.

With a growing footprint of 2.8 million sq. ft across pan India, Smartworks is focused on serving large enterprises in need of new age office spaces, and is in a leading position to cater to both existing as well as projected demand for office space. The year on year success and trust of its clients has resulted into making the homegrown agile workspace provider become profitable in India, in just a span of 3 years.Smartworks has a well-diversified client base comprising of IT/ITES, manufacturing, healthcare,automobiles, BFSI, Marketing and HR.

Commenting on achieving this market leadership position Neetish Sarda, Founder, Smartworks said, “Our growth is a testament of support and trust of our members and the booming market potential. Chennai and Pune have shown significant growth in last three years and due to our robust expansion we have been able to meet the growing demands from enterprises. As enterprises continue to focus on cost optimization and consolidation while expecting quality to remain constant, the demand for agile workspaces will continue to flourish”

An inspiring office experience that translates into a place of productivity engendering extra energy and better output remains Smartworks’ top priority. To meet the rising demands of corporates and millennials today, it offers a bundle of services including configured new-age office solutions, engagement and networking activities. The firm has focused approach to holistic facilities for its members such desk yoga,crèche facility, employee engagement activities, F&B, concierge services, gym, meditation center, health and wellness programs.

“We are focused on elevating the office experience for every office goer considering the traditional workspaces have seen limited innovation in the last decade. Our growth curve has never ceased to excite us, and we have been able to see the difference in our books by becoming profitable in such a short period. We have left no stone unturned to make the experience very personal and immersive.”Harsh Binani, Co-Founder, Smartworks.

Turning the brick and wall structures into smart buildings with technology, Smartworks is focused on customer delight, encouraging collaboration, ease of doing business and overall community building for enhanced productivity. Smartworks plans to double its footprint to 10 mn sq.ft. by 2022.

About Smartworks:

Smartworks is India’s largest provider of agile workspaces, with a footprint of 2.8 million sq. ft. across 23 locations in 9 cities (Delhi NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune) catering to more than 600 organizations across large enterprises, SMEs and established start-ups. Founded in April 2016, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology and customer delight experience. Smartworks is also the only Indian agile workspace provider to have become profitable in India.

Central to this ambition is the company’s motto, ‘Workspaces that work for you’, with the vision of creating the perfect environment by just not building communities, but also ensuring their member employees are productive in the workplace.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255

Smartworks’ Founder – Neetish Sarda named as Promising Entrepreneur of India by The Economic Times

Mumbai, March 28, 2019: Neetish Sarda, Founder of Smartworks, India’s leading provider of agile workspaces has been named as the Promising Entrepreneur of India at the The Economic Times Promising Entrepreneurs of India 2019 event which was held on March 29, 2019 at Hotel Sahara Star in Mumbai. Renowned celebrities Ashish Vidyarthi, Arjun Rampal and Shilpa Shetty gave away the trophy to the winners at the award ceremony.

Understanding the dynamic nature of India’s corporate real estate market and the rising demand for a fluid workspace environment, Neetish, instead of joining the family business, chose to become an entrepreneur, founding Smartworks in 2016. Under his able leadership/guidance and his vision, Smartworks has garnered an impressive footprint of 2.1 million sq.ft. across 9 key cities in a short span of 2 years. With a strong focus on technology, innovative design and service offerings, Smartworks prides itself in providing office solutions to over 30,000 people who represent large enterprises, SMEs and start-ups.

“It is indeed an honour to receive this recognition from the Economic Times. I am extremely humbled to see Smartworks grow aggressively over the last two years. While I conceptualised the idea, this would not have been possible without the help and support of a great team who has worked day and night to translate my vision into a reality. This recognition belongs to all of us. Accolades such as this motivates us to push the boundaries further and continue to innovate in the ever growing industry. As corporates look for more cost-effective solutions that enhance productivity, help retain talent and enhance the shared economy concept, Smartworks is focussed on not just building communities, but also ensuring that member employees are productive in the workplace at all times.” said Neetish Sarda, Founder, Smartworks.

The Economic Times Promising Entrepreneurs of India 2019 event brings together the visionaries, entrepreneurs, innovators and mavericks under one roof to share their experiences with the audience at large. With the theme The Face Of Progressive India, the event highlighted the hard work, talent, innovation and success of key entrepreneurs across India who have helped change the economic landscape of the country. Attendees included thought leaders, startups, Entrepreneurs, HNI’s, PE Firms, Financial Institutions, Venture Capital firms and SME’s.

To mark the occasion, Economic Times also plans to publish a coffee table book on The Economic Times Promising Entrepreneurs of India which will feature Neetish along with other industry leaders in this space including Vijay Shekhar Sharma of PayTM, Ritesh Agarwal of OYO Rooms, Divyank Turakhia of Media.net, Shradha Agarwal of Outcome Health and Kavin Bharti Mittal of Hike Messenger. The cover of the coffee table book was unveiled at The Economic Times Promising Entrepreneurs of India 2019 awards ceremony.

About Smartworks

Smartworks is India’s largest provider of tailor-made, flexible workspace, with a footprint of more than 1.2 million sq. ft. across 15 locations in 9 cities (Delhi NCR, Kolkata, Bangalore, Mumbai, Hyderabad, Chennai and Pune) catering to more than 500+ organizations across large enterprises, SMEs, start-ups, and freelancers. Founded in April 2016, Smartworks is reinventing enterprise workspaces to become the best workspace experience provider and the workspace of choice for India’s vibrant young workforce.

Central to this ambition is the company’s motto ‘Workspaces that work for you’, with the vision of creating the perfect environment for a highly motivated and productive workforce.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255

Smartworks Consolidates Leadership in Delhi NCR With Two New Centres

New Delhi, February 7, 2019: Smartworks, India’s leading provider of agile workspaces, today announced the leasing of two new facilities in Delhi NCR; one on Delhi-Noida Expressway and the other in Gurugram. The two new centres span more than 3 lakh sq.ft. in total with a combined seating capacity of 6500 seats, providing impetus to the company’s aggressive expansion plans. With these new spaces, Smartworks has increased its footprint in Delhi NCR to over 4 lakh sq.ft. spread across 6 centres.

The Delhi- Noida Expressway centres is a one of its kind state-of-the-art campus which will provide recreational facilities, F&B services, and a fitness centres among other amenities. The two facilities are already 40% pre-booked showing the robust demand for agile workspaces. The two new centres boast top-of-the-line global systems like productivity-driven and tech-enabled workspaces as well as biophilic architecture. Members also have the option of configuring office spaces to stimulate greater employee productivity and engagement. Smartworks, which focuses on enterprises, is also actively developing collaborative technology solutions like smart amenities like laundry and grocery, smart security and smart parking services to deliver a seamless experience to members. Keeping in mind the dynamic nature of today’s office goer, Smartworks’ facilities have various amenities including a crèche, gym, cafes and sleeping pods among others.

“Since inception, we have already invested over USD 30 Mn in the business. This coupled with our focussed strategy targeting the enterprise segment has resulted in us being the only profitable startup in this space in India. We are constantly adding new facilities to our portfolio leading to exponential growth of our footprint. In addition, riding on our brand effect, developers have reached out to partner with us and in process we have locked in over 2 Mn sq.ft of built to suite facilities which will come up in 2 years . We have exceeded our internal targets and our very bullish of reaching our ambitious goal of setting-up 20 m sq ft of agile workspaces across India over the next few years,” said Neetish Sarda, founder, Smartworks.

“Delhi NCR is one of the leading metros where the office space dynamics are witnessing a shift. Several large enterprises who are focussed on reducing overall costs for office spaces prefer agile workspaces as it leads to cost savings of more than 15%-30% on enterprise level. Gurugram and the Delhi-Noida Expressway are two of the most important business hubs in North India, with several large domestic and international firms, across sectors, either establishing or expanding their footprint here. Our two new centres aim to address the continuously growing demand for agile workspaces in metro cities,” he added.

Since its inception in April 2016, Smartworks has been aggressively expanding its footprint across key cities in India due to the growing demand for agile workspaces. The firm plans to expand its footprint to 20 million sq.ft. over the next three to five years.

According to a recent report by property consultant Cushman & Wakefield, in 2018, co-working players leased nearly 5 million sq ft of space. This is the highest ever annual leasing recorded for the co-working segment.

Sources:

https://www.moneycontrol.com/news/business/real-estate/gross-absorption-of-commercial-space-in-india-touches-48-1m-sq-ft-tech-co-working-space-drives-demand-3402261.html

About Smartworks

Smartworks is India’s largest provider of tailor-made, flexible workspace, with a footprint of more than 1.2 million sq. ft. across 15 locations in 9 cities (Delhi NCR, Kolkata, Bangalore, Mumbai, Hyderabad, Chennai and Pune) catering to more than 500+ organizations across large enterprises, SMEs, start-ups, and freelancers. Founded in April 2016, Smartworks is reinventing enterprise workspaces to become the best workspace experience provider and the workspace of choice for India’s vibrant young workforce.

Central to this ambition is the company’s motto ‘Workspaces that work for you’, with the vision of creating the perfect environment for a highly motivated and productive workforce.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255

Smartworks leases new facilities in Pune and Chennai to meet rising demand for agile workspaces; consolidates leadership

Guindy in Chennai and Baner in Pune to house approx. 5,000 people in total

Chennai, India, December 20, 2018: Smartworks, India’s leading provider of agile workspaces, today announced the addition of two new centres in Chennai and Pune to further consolidate its leadership in these two markets. With this, Smartworks continues its market leadership in both Chennai and Pune where it already has two and three centres respectively. The centres will be operational by early next year and have a total seating capacity of 5000+ people. The Chennai facility, situated in Guindy is spread across 72,000 sq.ft., with a seating capacity of 1,500 seats and is the third facility in Chennai and second in Guindy. The Pune facility is situated in Baner, has 2,800 seats spread across 1,40,000 sq.ft. and is the fourth facility in the city, and second in Baner.

Chennai and Pune have witnessed a surge in demand and Smartworks has capitalized on this burgeoning demand by firmly cementing its place as a market leader. All its existing centres are fully occupied and have several marquee enterprise clients like Episource, Lenovo, Xerox, Incedo, Rivigo, Amazon, Olx and Microsoft.

Neetish Sarda, founder, Smartworks, elaborates on the firms’ strategy. “In recent years, both Chennai and Pune have been witnessing sustained demand for agile workspaces. Our relentless focus on the enterprise segment has enabled the company to garner significant footprint in India. As a result, we have focused our efforts on strengthening our leadership position in these markets by consolidating our operations here. In the last 2.5 years, we have noticed a marked change in the customer base and their preferences for office space.”

Harsh Binani, co-founder, Smartworks said, “While earlier, co-working offices were catering primarily to start-ups, freelancers, SME’s and entrepreneurs, today, a large number of established corporates and multinationals are leasing these spaces. An agile workspace like ours offers these corporates several benefits including configured office solutions, engagement, networking activities and end-to-end amenities like crèche facility, employee engagement activities, F&B, Concierge services, gyms, health and wellness programs etc. to elevate member happiness and productivity which provides a complete office experience.”

According to a recent CBRE report on India’s Office Market[1], the total area under co-working spaces is approximately 13.5 million sq. ft. presently, indicating an exponential growth of the segment. Another report by Knight Frank[2] states that during the first quarter of 2018, the total space take up of co-working offices was approximately 2 million sq.ft. which is more than the entire take up of 2017 (1.8 million sq.ft.)

Smartworks presently has a footprint of 2 million sq.ft. and 33000 seats spread across 20 centres in the country including Delhi NCR, Mumbai, Bengaluru, Hyderabad, Pune, Chennai and Kolkata. As the only profitable/cash positive agile workspace operator in India, Smartworks believes in ensuring that customer experience and customer delight is at the core of their business.

Going forward, the firm plans to double its footprint to 10 mn sq.ft. by 2022. As new centres open, each facility will be technologically sound while focussing on customer delight, encouraging collaboration, ease of doing business and overall community building for enhanced productivity.

Source: https://www.cbre.co.in/en/about/media-centre/india-office-market-view-q2-2018

Source: https://www.knightfrank.co.in/news/co-working-demand-set-to-triple-in-the-next-3-years-says-knight-frank-012573.aspx

About Smartworks

Smartworks is India’s largest provider of tailor-made, flexible workspace, with a footprint of more than 1.2 million sq. ft. across 15 locations in 9 cities (Delhi NCR, Kolkata, Bangalore, Mumbai, Hyderabad, Chennai and Pune) catering to more than 500+ organizations across large enterprises, SMEs, start-ups, and freelancers. Founded in April 2016, Smartworks is reinventing enterprise workspaces to become the best workspace experience provider and the workspace of choice for India’s vibrant young workforce.

Central to this ambition is the company’s motto ‘Workspaces that work for you’, with the vision of creating the perfect environment for a highly motivated and productive workforce.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255

technology

Smartworks opens flagship centre in Bengaluru; debuts Smart Mitri, the world’s first AI enabled She-robot

Smartworks’ differentiated user experience and workspace design drives large enterprises – Deluxe and Playgames 24X7 to commit early/pre-launch

Bengaluru, December 7th, 2018: Smartworks, India’s largest agile workspaces player today launched its flagship facility in Bengaluru. Spread over 3 lakh sq. ft., with 6,000 seats, this is the firm’s largest centre located in Global Technology Park (GTP), Bellandur. One of the key highlights of the flagship centre is the introduction of ‘Smart Mitri’, the world’s first female AI robot. Smart Mitri will be Smartworks’ in-house productivity mascot and will play an influential role in handling the overall office management for the facility, ranging from the visitor system to being a counsellor eventually. This is a first time in the world that a co-working firm is introducing robotic technology to the co-working management eco-system.

This is Smartworks second facility in Bengaluru, the first being in Cessna Business Park. GTP has received a tremendous response, with more than 60 percent of the space having been pre-booked by leading enterprises including Deluxe with 1200 seats, Altron with 220 seats and Playgames 24X7 with 450 seats.

The Smartworks facility is a combination of modern aesthetics with the latest technology and a high emphasis on safety, wellness and productivity. Built across seven floors, it features smartly configured floor plans designed to promote employee productivity in a collaborative environment. It is designed to have plenty of natural light that has been proven to reduce stress, improve emotional health, increase productivity, and boost mood. It features fully glazed fire-rated lift lobby doors, marble-finished double height lobbies, green feature wall and fresh air filter for AHUs providing 0.25 Micron filtration.

Commenting on the launch, Neetish Sarda, Founder Smartworks said, “Smartworks is tapping the vast potential of India’s tech capital by building its futuristic office experience in Bengaluru on an unrivalled scale.” Speaking about the distinct edge that Smartworks provides, Neetish added, “Unlike other agile workplaces, Smartworks offers its clients a cost advantage of up to 30 – 40 % achieved through technology intervention that keep operating costs low. Our key focus remains on providing spaces that are modern, technology-rich, productive, collaborative, safe and promote wellbeing so that employees feel taken care of. Bengaluru has and will be a key market for us and we have plans to increase our presence here by ten-fold in the next few years.”

With the launch of the Belladur facility, Smartworks now has a total portfolio of 2 million sq.ft. across India. The firm plans to expand their workspace portfolio to 10 million sq. ft. within the next 3-4 years.

The GTP facility marks the way forward for bigger and better technology innovations in the workplace for Smartworks. As the Silicon Valley of India, Bengaluru, has emerged as the Co-working capital of the world. Over the past few years, the city has witnessed massive adoption of the concept of co-working/agile office spaces, with companies and employees finding a co-working culture not just rhythmic to their working style, but also a key enhancer of productivity. As a tech park with state-of-art facilities such as crèche, meditation room, gym, angry man room, sleeping pods, connectivity, vending machines, employee engagement activities, multi cuisine food court and an enhanced user experience, GTP is a much sought after location for enterprises looking to establish or expand their footprint in the city.

Present at the launch of the Smartworks Bengaluru facility was Balaji Viswanathan, CEO of Invento Robotics, a Bengaluru based start-up and the brainchild behind Smart Mitri. Speaking at the event, he said, “It’s a great day for us today, to see our invention come to life! We would like to congratulate Smartworks on their vision to transform robot fantasy and fiction into robot reality with Smart Mitri as their visitor concierge. Smartworks is bringing this reality to life by expanding the possibilities for innovation.”

“Productivity and employee engagement are big focus areas for every employer today. In the knowledge era, the traditional approach to employee engagement and productivity needs to be turned on its head. Invento in partnership with Smartworks is finding new ways to enhance these interventions. The Mitra AI robots are a key element to making this a reality!” he added.

Smartworks has been on an expansion drive in Southern and Western India since the beginning of this year. The competition of Smartworks include WeWork, Cowrks, AWFIS among others. The firm is India’s preferred choice for top enterprises with these companies accounting for 90% of its seats. It is India’s only profitable co-working space player of its size.

With 20 locations across 9 cities, the firm caters to more than 500+ organizations across large enterprises, SMEs, start-ups. Select marquee clients that work out of its centres include Tata Communications, Microsoft, Arcelor Mittal, Amazon, Carrier, Otis, Daikin, Lenovo, Bacardi, and OLX.

Smartworks’ Global Technology Park facility video: https://drive.google.com/file/d/1CIPz6Ak0oGQMJ7QRZdwMJDUdG6Hq9Pw5/view

About Smartworks

Smartworks is India’s largest provider of tailor-made, flexible workspace, with a footprint of more than 1.2 million sq. ft. across 15 locations in 9 cities (Delhi NCR, Kolkata, Bangalore, Mumbai, Hyderabad, Chennai and Pune) catering to more than 500+ organizations across large enterprises, SMEs, start-ups, and freelancers. Founded in April 2016, Smartworks is reinventing enterprise workspaces to become the best workspace experience provider and the workspace of choice for India’s vibrant young workforce.

Central to this ambition is the company’s motto ‘Workspaces that work for you’, with the vision of creating the perfect environment for a highly motivated and productive workforce.

For more information, log in to www.smartworksoffice.com

Media Contacts:

Anita Sharma
Email: [email protected]
Mobile: +91 96507 88255