New Delhi, March 18: In a strategic move to cater to the increasing demand for managed workspaces, Smartworks Coworking Spaces Ltd has expanded its footprint in Hyderabad by taking on rent 2.2 lakh square feet of prime office space at DLF Cyber City, located in the bustling business hub of Gachibowli, Hyderabad.
This expansion further strengthens Smartworks’ presence in Telangana’s capital city, bringing its total managed office space in Hyderabad to over one million (10 lakh) square feet. The newly leased premises mark Smartworks’ fourth centre in Hyderabad, reinforcing the company’s commitment to meeting the dynamic workspace requirements of modern enterprises.
Growing Demand for Managed Workspaces
Smartworks’ founder, Neetish Sarda, highlighted the significance of this expansion, stating:
“Hyderabad’s commercial office landscape has evolved significantly, driven by demand across diverse sectors. Our expansion and growth in Hyderabad reflect the steady demand from occupiers and the need for fully managed, tailored workspaces with modern amenities for today’s workforce.”
The growing trend of flexible and customized office spaces is gaining traction among corporates, prompting Smartworks to expand aggressively in major commercial hubs across India.
Strategic Expansion Beyond Hyderabad
Earlier this year, Smartworks announced another major milestone — the acquisition of over 0.47 million (4.7 lakh) square feet of office space in the DLF Commercial Tower situated in Gurugram. This expansion aligns with the company’s strategic vision to cater to growing corporate demand for flexible office solutions in key metropolitan areas.
Smartworks’ Market Presence and Clientele
Smartworks has emerged as a leading provider of managed and flexible workspaces, primarily serving mid-to-large enterprises. With a client portfolio exceeding 600 companies, Smartworks continues to deliver innovative workspace solutions tailored to modern corporate requirements.
As of August 14, 2024, when the company filed its Draft Red Herring Prospectus (DRHP), Smartworks reported a total super built-up area of 9.12 million square feet, spread across 45 centres in 13 cities across India. This extensive footprint highlights the company’s aggressive expansion strategy and its commitment to serving a wide range of corporate clients.
Hyderabad’s Thriving Business Ecosystem
Hyderabad has emerged as a prominent commercial hub, attracting businesses across IT, fintech, healthcare, and various other sectors. Gachibowli, in particular, has witnessed significant commercial growth, making it an ideal location for Smartworks’ latest expansion. The addition of this 2.2 lakh sq ft space underscores the rising demand for managed office spaces that offer flexibility, scalability, and premium amenities to enterprises of varying scales.
Conclusion
With its expanding presence in Hyderabad and other major cities, Smartworks is poised to capitalize on the rising demand for contemporary, managed workspaces. By continuing to offer customized office solutions equipped with modern amenities, Smartworks aims to support businesses in creating productive and collaborative environments tailored to their evolving needs.
- Editorial Desk