After a successful public debut, Smartworks is focusing on expanding its scale, building partnerships, and enhancing workplace environments for global enterprises. For many firms, going public represents an endpoint. However, for Smartworks, it signifies a continuation. The company’s stock market launch in July 2025 marked a significant milestone, not only for Smartworks but for the entire flexible workspace sector in India. The IPO was nearly 14 times oversubscribed and listed at a premium, showcasing strong investor trust in the company’s model and growth potential. In under a decade, first-generation entrepreneurs Neetish Sarda and Harsh Binani transformed a bootstrapped concept into the largest managed office platform in the country, creating a new market segment.
Smartworks boasts approximately 12 million square feet of workspace across 14 cities, catering to over 700 large enterprises, including notable names like Google, EY, Groww, Persistent, and Bridgestone. The company concluded FY25 with revenues around ₹13,000 million, consistent profitability, and occupancy rates exceeding 83%. These figures illustrate not just growth, but also a disciplined approach. Smartworks was designed for responsible scaling, operating on an asset-light model that involves leasing entire buildings and converting them into managed campuses within as little as 60 days. This strategy minimizes capital costs while enabling rapid and sustainable expansion. Each rupee invested achieves significant returns, with new campuses often recouping costs within three years of a 15-year lease.
This prudent approach is a key strength for Smartworks, facilitating growth without excessive risk, while ensuring financial stability amidst new site and service additions. Over time, this method has evolved from an ambitious experiment into a solid business characterized by steady cash flow, reliable earnings, and dedicated enterprise clients. Partnerships with major institutional developers like DLF, Raheja, and Tata Realty highlight the robustness of its model. Institutional landlords now consider Smartworks a dependable long-term occupant rather than merely a tenant. These collaborations are paving the way for new sites and larger campuses, particularly in Tier 1 and emerging Tier 2 business centers.
Additionally, it is the sole Indian-origin flexible workspace company with an international presence, having expanded to Singapore last year with a 35,000 sq. ft. office. Whether it’s the 700,000 sq. ft. campus in Bangalore or the recent lease at Tata Realty’s Intellion Park, Smartworks has demonstrated significant scale with commitment and occupancy. It manages 4-5 large campuses over 500,000 sq. ft. in its portfolio, many of which are designed with sustainability in mind, incorporating energy-efficient lighting, smart automation, and green zones to create healthier workplaces. However, the next growth phase will not solely focus on square footage. Smartworks is now enhancing its enterprise ecosystem — integrating technology, services, and partnerships to create smarter, more user-friendly workspaces.
From design and delivery to daily operations, the aim is to develop environments that cater intelligently to the needs of their users.