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Smartworks Coworking Spaces Ltd has acquired Singapore-based Workstudio Spaces Pte. Ltd as part of its international expansion strategy. The acquisition increases the Gurugram-based managed workspace operator's footprint in Singapore to four operational centres, spanning around 76,000 sq ft with a seating capacity of more than 1,500. The transaction also adds over 45 enterprise clients to its Singapore portfolio. Smartworks, which operates 66 centres across 15 cities in India and Singapore with a portfolio of 16.1 million sq ft, did not disclose the acquisition value. The expansion comes amid growing demand for managed flexible office spaces and follows the company's return to profitability in FY26.
Smartworks Coworking Spaces Ltd has completed the acquisition of Singapore-based Workstudio Spaces Pte. Ltd, strengthening its presence in the city-state as part of its international growth strategy.
The Gurugram-headquartered managed workspace operator said the acquisition expands its Singapore portfolio to four operational centres, covering approximately 76,000 sq ft with a combined seating capacity of more than 1,500.
According to the company, the acquisition also adds more than 45 enterprise clients across multiple sectors to its Singapore operations. Smartworks did not disclose the financial details of the transaction.
Following the acquisition, Smartworks continues to operate a portfolio of 66 centres across 15 cities in India and Singapore, with a total managed office footprint of 16.1 million sq ft.
Commenting on the acquisition, Neetish Sarda, Founder and Managing Director of Smartworks, said Singapore remains a strategic market for the company. He noted that Smartworks has more than doubled its presence in the country over the past two years and added that the acquisition of Workstudio complements its existing portfolio while strengthening its offering for enterprise clients.
Smartworks partners with real estate developers to convert large bare-shell office buildings into fully managed workspaces designed primarily for medium and large corporate occupiers. The company provides managed office campuses equipped with workplace infrastructure and support services tailored to enterprise requirements.
The acquisition comes at a time when demand for managed flexible office space continues to grow across India and other key markets, encouraging operators to expand through both new developments and strategic acquisitions.
The company also reported an improvement in its financial performance during FY26. Smartworks posted a net profit of INR 10.52 crore for the financial year, compared with a net loss of INR 63.17 crore in the previous fiscal. Total income increased to INR 1,849.9 crore from INR 1,409.66 crore in FY25, reflecting growth in its managed workspace business.
Source - PTI
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