Smartworks Coworking Spaces Expansion Plan: Rs 600 Crore Investment in 2026

Introduction

Smartworks Coworking Spaces Ltd is gearing up for a significant expansion in 2026, with plans to invest around Rs 600 crore to meet the growing demand for managed workspaces. This expansion will focus on both existing and upcoming centres, aiming to enhance the company's footprint in the coworking industry.

Expansion Plan

In a recent conference call, Smartworks Founder and Managing Director Neetish Sarda revealed that the company's capital expenditure (capex) for the year will be between Rs 550 crore and Rs 600 crore. This capex includes both refurbishment and new construction costs. Sarda also mentioned that Smartworks has already secured more than 3.5 million square feet of space that is either under construction or planned for future development.

Company Overview

Smartworks Coworking Spaces Ltd is a leading realty firm based in Gurugram. The company boasts a portfolio of 16.9 million square feet of office space across 70 centres in 15 cities in India and Singapore. In the fiscal year 2025-26, Smartworks reported a total revenue of Rs 1,850 crore.

Business Model

Smartworks leases entire buildings from leading developers and landlords in prime locations and transforms them into fully managed, amenity-rich campuses. The company's business model includes providing a one-stop workspace solution with amenities such as cafeterias, gyms, creches, convenience stores, recreation zones, and round-the-clock support for clients.

Growth and Revenue

Smartworks has experienced substantial growth over the years. The company's platform has expanded to almost 17 million square feet of total area and serves over 760 clients, ranging from Fortune 500 companies to Forbes 2000 firms, MNCs, leading Indian conglomerates, and unicorns. More than 1.5 lakh professionals work from its campuses daily. Committed contracted revenue stands at approximately Rs 5,400 crores, with 87 per cent of FY27 revenue already contracted.

Industry Trends

According to real estate consultant Colliers India, coworking operators rented 8.6 million sq ft of office space in the first six months of 2026, up 32 per cent year-on-year. Cushman & Wakefield highlighted that these operators rented out 1,91,306 desks to corporates during the first six months of 2026, compared to 1,13,623 seats in the year-ago period.

Future Outlook

Smartworks Executive Director Harsh Binani emphasized that the company's large centres continue to attract larger clients, with a rising share of 1,000-plus seat cohorts and multi-city clients. Binani noted that the share of revenue from Global Capability Centres (GCCs) is also increasing. The company reported a consolidated net profit of Rs 13.14 crore for the quarter ended June 2026, compared to a net loss of Rs 4.19 crore in the same period last year. Total income rose 44 per cent to Rs 559.66 crore in the April-June period of 2026-27 from Rs 387.98 crore in the corresponding period of the preceding year.

FAQs

**Q: What is Smartworks Coworking Spaces' expansion plan for 2026? **A: Smartworks plans to invest Rs 600 crore in 2026 to expand its existing and upcoming centres to meet the rising demand for managed workspaces.

**Q: How large is Smartworks' portfolio? **A: Smartworks has a portfolio of 16.9 million square feet of office space across 70 centres in 15 cities in India and Singapore.

**Q: What is Smartworks' revenue for 2025-26? **A: Smartworks reported a revenue of Rs 1,850 crore in the fiscal year 2025-26.

Conclusion

Smartworks Coworking Spaces Ltd is poised for significant growth in 2026 with its ambitious expansion plan. The company's strategic investments and focus on providing comprehensive workspace solutions position it well to meet the increasing demand for flexible and managed workspaces.

Call-to-Action

For more information on Smartworks Coworking Spaces and their expansion plans, visit blogy.in.