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Smartworks Investment

Keppel Land invests in Smartworks, a leading pan-India flexible space solutions provider

New Delhi/Noida, 31st October 2019 –Keppel Land Limited (Keppel Land) has invested US $25 million in Smartworks Coworking Space Pvt. Ltd (Smartworks), a leading pan-India flexible space solutions provider with a presence in nine major Indian cities, namely, Delhi, Noida, Gurgaon, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune.

Founded by Neetish Sarda and co-founded by Harsh Binani in April 2016, Smartworks has grown rapidly to become India’s market-leading provider of quality flexible spaces for enterprise companies. Presently, Smartworks has 23 operational centres in nine cities offering a total of about 43,000 workstations spread over 2.3 million sf. Its centres currently cater to over 400 organisations, comprising mainly large enterprises and high-growth startups such as Amazon Web Services, Bacardi Limited, DHL, Ernst & Young, Hitachi, Jaguar Land Rover Automotive PLC, Microsoft Corporation, Petronash, Red Hat, Ricoh and Samsung. Over the next five years, Smartworks plans to grow its footprint to 20 million sf and provide office solutions for over 200,000 working professionals.

Mr. Tan Swee Yiow, CEO of Keppel Land,, said, “Smartworks’ innovative business model, coupled with its strong knowledge of the Indian enterprise office segment and execution abilities, is highly scalable and relevant, particularly in India’s growing market for commercial office spaces. This investment allows Keppel Land to enter one of the world’s fastest-growing flexible office markets, opening doors for further growth through this collaboration.

“There are also many opportunities for cross-learning and collaboration between Smartworks and Keppel Land’s smart serviced co-office platform, KLOUD, which currently has a presence in Singapore, Vietnam and Myanmar.”

Mr Neetish Sarda, Founder of Smartworks, said, “We are delighted to partner with Keppel Land, Asia’s premier real estate developer and multi-faceted property company. We are excited to continue driving our exponential growth in our mission to deliver lasting and affordable office experiences with state-of-the-art office infrastructure and recreational facilities for India’s leading enterprises in partnership with Keppel Land.

“The flexible space segment in India has been growing rapidly, and Smartworks has been an active participant in this business over the past three years, with a large and widespread network across nine cities. Smartworks is also already cash flow positive and is profitable at a consolidated level. With this strategic investment by Keppel Land, we will be able to scale up even more rapidly across India’s Tier 1 and Tier 2 cities and further invest in building up our next generation product, improving client experiences, as well as boosting our talent and technology.”

Smartworks provides office spaces which can be rapidly configured and customised in just four to six weeks according to the needs of their enterprise clients, offering a full suite of solutions at a value price point without upfront capital expenditure. All of its centers include common amenities such as cafeterias, meeting spaces, training rooms, crèches, gymnasiums, and first-aid clinics, which have been well-received by clients. Smartworks was also the first agile space provider in India to use a humanoid robot for operational duties.

Strong economic fundamentals, growing urbanisation and the government’s
pro-business policies have led to India attracting an influx of foreign investment across all sectors, in particular, the property market. Leasing activity in the commercial real estate segment rose by 40% year-on-year (y-o-y), crossing 30 million sf in the first half of 2019, the highest recorded, and is poised to reach 50 million sf by end-2019. Within this segment, the flexible space market has risen by 52% y-o-y in the first half of 2019.

The above transaction is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.

About Keppel Land Limited

Keppel Land is the property arm of Keppel Corporation, a multi-business company providing solutions for sustainable urbanisation, with key businesses in offshore and marine, property, infrastructure and investments.

As a multi-faceted property company, Keppel Land provides innovative real estate solutions with its sterling portfolio of award-winning residential developments, investment-grade commercial properties and integrated townships.

Keppel Land Limited is geographically diversified in Asia, with Singapore, China and Vietnam as its key markets, while it continues to scale up in other markets such as Indonesia and India.

Keppel Land is Asia’s premier home developer, with a pipeline of about 46,000 homes in Singapore and overseas. It is also a leading prime office developer in Singapore and is committed to grow its commercial portfolio in key Asian cities including Shanghai, Beijing and Tianjin in China, Ho Chi Minh City in Vietnam, Jakarta in Indonesia, Manila in the Philippines and Yangon in Myanmar.

About Smartworks :

Smartworks is a leading pan-India flexible space solutions provider, with a footprint of more than 2.3 million sf across 23 locations in 9 cities, namely, Delhi, Noida, Gurgaon, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune, catering to more than 400 organisations across large enterprises and fast growing start-ups. Founded in April 2016 by Neetish Sarda and Harsh Binani, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology and customer delight experiences. Within a short span of three years, Smartworks is profitable at a consolidated level.

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

For further information, please contact:

For Keppel

Media Relations

Frances Teh
Senior Manager
Group Corporate Communications
Keppel Corporation Limited
Mobile: (65) 64136437
Email: [email protected]

Investor Relations

Guo Xiaorong
Assistant Manager
Group Corporate Communications
Keppel Corporation Limited
Mobile: (65) 6413 6475
Email: [email protected]

For Smartworks

Media Relations

Anita Sharma
Manager
PR & Communications
Smartworks Coworking Spaces Pvt Ltd
Mobile: +(91) 9650788255
Email: [email protected]

270 sq.ft lease in Noida

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 leases over 270k sq ft in Noida

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

Why co-working space

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 $35m

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

Co-working firm Smartworks to raise $35-mn growth fund

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 new bubble

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 Picks up 270k sq ft in Noida on Lease for Nine Years 

The flexible office spaces provider has been growing in southern and western India and expects to expand its portfolio to 10 million sq ft by 2022

BENGALURU: Flexible office spaces provider Smartworks has picked up more than 270,000 square feet (sq ft) in Noida through a longterm lease spread over nine years. This is its largest facility with a seating capacity of 5,500 and is adjacent to the Delhi-Noida Expressway. 

The Delhi-based co-working spaces operator has signed eight new lease agreements totalling around 800,000 sq ft across Bengaluru, Chennai, Pune and Noida since the beginning of this year. 

Smartworks’ total footprint has touched around 2.8 million sq ft, with a total investment of $25 million so far. “We are very bullish on scaling our business in the existing cities. Around 60% of these facilities are operational and the remaining will go live in a month’s time as we have already signed up clients for each one of them,” said cofounder Harsh Binani. 

Smartworks has been growing in southern and western India since early 2019 and is expected to expand its workplace portfolio to 10 million sq ft by 2022. “Smartworks has clocked over ?100 crore in revenue and has been profitable for an entire year at the corporate level,” Binani said. Currently, it has 35,000 seats spread across 23 centres in nine cities, including the national capital region (NCR), Mumbai, Bengaluru, Hyderabad, Pune, Chennai and Kolkata. 

“Smartworks is into a large-format play and the average space take-up by each of our clients is about 280 seats, spread across about 10,000 sq ft,” said Binani. The office spaces market grew 21% yearon-year in the first half of this year, according to industry tracker JLL. “Net absorption of office space across top seven cities touched nearly 22 million sq ft,” it said. The growth in demand was driven by co-working players (15% of overall leasing) and IT/ITeS space (37% of overall leasing), JLL .

Other Link

https://www.projectstoday.com/News/Smartworks-picks-up-270000-sq-ft-in-Noida-on-lease

http://realtyplusmag.com/smartworks-leases-270000-sq-ft-space-in-noida-for-nine-years/

https://realty.economictimes.indiatimes.com/news/commercial/smartworks-leases-270000-sq-ft-space-in-noida-for-nine-years/70479759

https://content.magicbricks.com/property-news/delhi-ncr-real-estate-news/smartworks-leases-270000-sqft-space-in-noida-for-nine-years/107866.html

https://landisters.com/news/2019/08/02/smartworks-leases-270000-sq-ft-space-in-noida-for-nine-years/

http://www.propertynewsindia.in/2019/08/smartworks-leases-more-than-2-lacs-sqft-space-in-noida-for-nine-years/

National Real Estate Development Council

http://www.naredco.in/news-updates-details.asp?id=26072&prYear=2019&xmon=Aug&st=1&links=nw2

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

Thailand’s MQDC enters India with first co-working centre in Delhi, leases 22,000 sq ft from DLF

Magnolia Quality Development Corporation (MQDC) develops, invests in, and manages residential, mixed-use, commercial, and hotel projects.

Thailand-based real estate firm MQDC is entering the Indian property market by taking on lease 22,000 sq ft from realty major DLF to start its first co-working centre in the national capital, a senior company official said on Friday.

Magnolia Quality Development Corporation (MQDC) develops, invests in, and manages residential, mixed-use, commercial, and hotel projects. It develops projects under brands like Magnolias, Whizdom, The Aspen Tree, and Mulberry Grove.

“We are entering into the Indian real estate market with our first co-working centre named ‘Whizdom Club’ at Greater Kailash-II in South Delhi. We have taken 22,000 sq ft area from DLF to open this facility comprising over 400 seats,” MQDC India Real Estate Director Chulamas Jitpatima (Amy) told PTI.

She said the company has invested Rs 12 crore to set up this co-working centre.

“We are targeting students, start-ups and small and medium enterprises as well as corporates,” Amy said.
The company is yet to finalise price per seat but will offer discounts to students and start-ups, she added.

“With the launch of ‘Whizdom Club’, we aspire to create a space that not only hosts creativity and ideas but also nurtures and supports all members for a better tomorrow. The aim of this innovative space will be to provide a co-working hub that will help corporations, rising entrepreneurs, aspiring students, and SMEs (small and medium enterprises) to meet their business and networking goals in an inspiring environment,” Amy said.

MQDC Vice-President (Whizdom Society) Krissayuth Chavavitayatham said, “Delhi is our first location as the city offers demographic diversity, besides being the fastest-growing metropolitan city with a robust ecosystem and a thriving business culture.”

The co-working segment has grown rapidly in India during the past three-four years because of rising demand of flexible workspace from start-ups, professionals and corporates. Already, the total stock of such space has reached 23 million sq ft across seven major cities in India.

WeWork, Regus, CoWrks, Awfis, Smartworks, OYO Workspace, GoodWorks, GoWork, Skootr, IndiQube, Avanta, 91 Springboard, Creator’s Gurukul, GoHive, OneCulture, Plus Offices and Spring House Coworking are major players in this segment.

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

team smartworks

Gurugram emerges as preferred coworking hub

Gurugram has emerged as the most preferred location for flexible workspace operators in Delhi-NCR; clients like the idea of zero maintenance and their employees love the amenities.


The Gowork office, at Plot 108, Udyog Vihar phase 1, in Gurugram. The city has emerged as a hub of co-working spaces and these collaborative spaces are helping professionals finally achieve the elusive work-life balance.(Yogendra Kumar / HT Photo )

Thoughtful design, colourful interiors, flexible timings, lower cost of operations and, most importantly, freedom from the mundane and costly job of maintaining a traditional office has ensured that co-working spaces are becoming the go-to option for individuals and firms looking to rent space in Gurugram as well as cities across the country. While the initial fillip to this segment was given by start-ups, freelancers and professionals, the demand is now increasingly being fuelled by medium and large corporates, say most Gurugram-based operators.

Clients are increasingly finding these offices more economical, they like the idea of zero maintenance, and their employees love it for the freedom and choices these spaces offer, they further add.
Across the country, Delhi-NCR, after Bengaluru and Chennai, has shown the third-highest increase in flexible office space, as large deals in 2018 took the coworking share from 4% to 9% of the total in office-leasing space in the region, states a report released by real estate consultant JLL on June 28.

Gurugram has also emerged as the most preferred location for flexible workspace operators in Delhi-NCR—64% of new leases in 2018 were made here, according to Colliers, another real estate consultancy firm.

Pan-India data shared by JLL reveals that cumulative space released by coworking firms in the last two years has doubled from 2017 to 2018 and is expected to increase in 2019 in Grade A buildings. In 2017, 1.9 million sq ft was leased by coworking spaces; in 2018 it was 3.9 million sq ft; and in the first quarter of 2019, the flexible working space has added 1.1 million sq ft area to the already existing space.

Due to this reason, real estate professionals assert that coworking space, which until now was considered niche, will play a key role in the growth of the office real estate in the next few years. “Over the next three years, we expect the flexible workspace market to grow rapidly with the rise in demand from large companies and start-ups alike. We expect occupiers from information technology, business process management, banking, financial services, and investments, as well as the fast-moving consumer goods (FMCG) sector to continue taking up space in flexible workspace centres,” Sanjay Chatrath, managing director, North, Colliers International India, says.


Office-goers play chess at a coworking space in Gurugram. Experts say corporates want their employees to experience a flexible work environment as a majority of the workforce comprises millennials. ( Yogendra Kumar/HT PHOTO )

In Gurugram, three important micro-markets for this segment have evolved, including Cyber City, Golf Course Road, and Udyog Vihar, where major flexible space operators have leased space and are offering customised solutions based on demand.

As per Colliers, major deals that took place in 2018 in Gurugram included the launch of WeWork (a 2.25 lakh sq ft shared office space at DLF Cyber City in DLF Forum), the opening of another WeWorks (a 1.2 lakh sq ft space at Two Horizon Centre at Golf Course Road) and a 75,000 sq ft space launched by 91 Springboard in Udyog Vihar.

The major deals in 2019, as per ANAROCK, a real estate consultancy, included a launch by Skootr, which leased 22,000 sq ft of office space at DLF Square, GoHive, which leased 50,000 sq ft of space in Udyog Vihar, and Garage Society, which leased nearly 19,000 sq ft of space at Cyber City. Several smaller deals took place across the city, which gave a further boost to this space.

Prashant Garg, country manager, Garage Society, a Hong Kong company, which operates spaces in Udyog Vihar, Cyber Hub and Golf Course Extension Road, says that occupiers in Cyber City are large corporates and mature start-ups, which can now afford to pay for premium space. “There are different types of clients. In Udyog Vihar, most people are looking for low-cost solutions and smaller ticket sizes. Golf Course Extension Road has mostly medium and large companies which have rented spaces for its employees,” he says, adding that their objective is not to provide real estate but to create a space where communities of talented professionals are formed and they focus on their competencies while enjoying their work.

Rajiv Bathla, CEO, The Circle.Work, which is located at the HUDA Metro station says that customised office spaces, great amenities and an ecosystem that supports the community are attracting different kinds of occupiers to these spaces. “We have a television channel operating in our shared office, a large media house, and online shopping portal working alongside medium-level start-ups. Our USP is that people can get down from the Metro, come to work, and go back home,” he says.

Flexible space operators further say that the reason small as well as large firms are attracted to them is that they allow easy flexibility of scaling up or downsizing, offer an opportunity to network, allow communities to evolve and give space to like-minded professionals to come together. “Our clients have the freedom to rent 20 seats and increase the number next month to 40 or reduce it to 10. Business is dynamic so this space allows entrepreneurs to reduce or expand at will,” says Mishu Ahluwalia, founder, and CEO, GoHive, a co-working space on Golf Course Road.

Ahluwalia also says that given the changing dynamics and demands of office space occupiers, co-working operators are designing space as per the needs of the clients. The space on offer includes a mix of private offices/cubicles, fixed seats, flexible seats and even full-scale customised centres for a specific client.


The spaces on offer include a mix of private offices/ cubicles, fixed or flexible seats, and even full-scale customised centres for specific clients. ( Yogendra Kumar/HT PHOTO )

The monthly rentals of these seats vary from Rs 5,500 per seat per month in Udyog Vihar to Rs 15,000 to Rs 18,000 on Golf Course Extension Road and upward to Rs 30,000 at Cyber Hub. “The price depends upon various factors such as the facilities and location,” he says.

Operators say that the primary benefits associated with co-working spaces are that operational cost is lower, infrastructure is better and there are shared communities, which lead to business opportunities.

Samantak Das, chief economist and head of research, JLL India, says, “The shift in perception among millennials to ‘share’ instead of ‘own’ has made this concept popular. For all groups—corporate occupiers, start-ups, entrepreneurs and millennials—renting offers flexibility and savings. Co-working offers cost savings of 20%-25% compared to traditional office space leasing.”

Garg from Garage Society says that for clients in Udyog Vihar, which are start-ups and small and medium enterprises, the key factor is cost and infrastructure, such as assurance of the Internet and air-conditioning. However, for larger corporates, the location, the distance of commute and quality of office is also as important as infrastructure.

Sanjay Choudhary, founder, IncusSpaze, a flexible space operator, which has a presence in Gurugram and tier 2 cities, says that their centres in Lucknow and Indore are being rented out by local businessmen and large corporates, which want to have a small presence there, but don’t want to set up company-owned offices there.

Kritika Gupta, manager, IncusSpaze, says that growth in tier 2 cities is good as the price of real estate is less, resources are cheaper and the cost of operations is reasonable. “The people now understand the working model and are coming to us,” she says, adding that their centres in Gurugram have given them a clear understanding as to what the client wants and how to satisfy the demand.


A major outcome of the growth witnessed by the flexible working space segment is that several new operators and even traditional real estate companies have decided to dip their toe in the waters. ( Yogendra Kumar/HT PHOTO )

Industry experts admit that despite start-ups giving the initial spurt to flexible office space, it is surprisingly the corporates that are now contributing to the major chunk of demand across various cities.

“More than 90% of our clientele is large enterprises. The growth of agile workspaces is fuelled by multi-sectoral growth, and we have a diversified client base comprising growing sectors like IT, healthcare, manufacturing, financial services, automotive, logistics, and other sectors,” says Neetish Sarda, founder, Smartworks

“The primary requirement of flexible spaces is that they should be generic but flexible to change in short periods so that clients don’t get bored. The colour scheme should be vibrant, lighting is important and people should not get the Monday morning blues while coming to office,” she says. The spaces she has designed in Gurugram allow for community spaces, the furniture is ergonomic and user-friendly, and every element has a local touch.

A major outcome of the growth witnessed by the flexible working space segment is that several new operators and even traditional real estate companies have decided to dip their toe in the waters.

While the flexible office space is looking for growth and more share in the office rental market, experts say that there are multiple challenges as well. Due to the entry of large corporates who have taken up shared spaces, experts say concerns regarding data security and privacy remain, as some of these companies deal with a high volume of confidential data and for them sharing space with external organisations remains a challenge. Some of the larger companies are also concerned about the dilution of branding and their own corporate culture, say experts. Another issue is that some land and property owners are slow to understand the co-working business model; however, most Gurugram operators say times are changing.

A majority of experts and operators say that due to technology, business strategies and operations management of firms have undergone a paradigm shift and this is the reason that flexible workspaces are needed for workers operating in a changing environment.

Mudita Dhankhar, an architect of flexible spaces, says that corporates want to station their workers in newer markets at lesser costs. They also want their employees to experience a flexible work environment as the majority of the workforce comprises of millennials, she adds.

Anshuman Magazine, chairman and CEO, CBRE, India and south-east Asia says “Many enterprises are increasingly adopting the start-up entrepreneurial culture, such as cost-effectively securing the best talent, sharing office spaces, strengthening balance sheets by reducing the overall operational costs and adding agility in real estate portfolios. There is an increasing emphasis on retaining talent by allowing a work-life balance by reducing commute times, for instance.”

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