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officespace

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

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Anita Sharma
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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

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coworking space

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

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smartworks- office space

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

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flexible workspace

Flexible workplace operators’ take-up rises 52% in H1 2019: Report

During this period, Bangalore accounted for almost 30% of the leasing by flexible space operator, said a recent report from 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.

op 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.

“Customized enterprise solutions provided by operators offer a competitive advantage as well as enable them to retain tenants for a longer-term. This is expected to continue to attract established corporates towards the flexible space segment,” said Ram Chandnani, Managing Director, Advisory and Transaction Services India, CBRE.

Operators have also turned their focus from the top seven cities to tier-II cities such as Jaipur, Goa, Chandigarh and Lucknow in the past few quarters.

“Most of our matured centres are 95% occupied and the turnaround time has reduced from seven months to two months now, reflecting strong demand for flexible space,” said Neetish Sarda, Founder of Smartworks.

Flexible space stock crossed 23 million sq. ft. across leading cities in India during Q1 2019; this stock exceeded 18 million sq. ft of 2018CY mentioned the report.

Also, the continuously increasing demand for space in non-core micro-markets, coupled with paucity of space in core micro-markets, is likely to result in the flexible office space dominating leasing in the future. Additionally, the demand for managed office spaces will strengthen in the coming few quarters and become almost comparable to that of hybrid spaces.

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

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office space

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

HASSLE- FREE OFFICES IN JUST 30 DAYS

Fill out the form below and our team will contact you.


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

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workspace

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

HASSLE- FREE OFFICES IN JUST 30 DAYS

Fill out the form below and our team will contact you.


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

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IISM

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

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