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Smartworks Coworking Spaces Ltd is adding 176,285 square feet of coworking capacity in Pune with an investment of INR 280 million. The addition is expected to further increase the company’s operational footprint in the city as demand for flexible and managed office space continues to grow. Smartworks had about 10.4 million square feet of operational space across 54 centres in 15 cities at the end of June, while its total footprint stood at around 16.9 million square feet. The company has also recently expanded its Pune operations through new enterprise client engagements.
Smartworks Coworking Spaces Ltd has added 176,285 square feet of capacity in Pune at an investment of INR 280 million, according to the company’s latest disclosure reported by Reuters.
The capacity addition is part of Smartworks’ ongoing expansion of its managed office portfolio. The company has been increasing its presence across major commercial markets, with Pune remaining one of its key locations.
At the end of June, Smartworks had around 10.4 million square feet of operational footprint across 54 centres in 15 cities. Its total secured footprint stood at approximately 16.9 million square feet across 70 centres, with more than 381,000 seats. The company reported an operational utilisation rate of 81% and committed occupancy of 86%.
Pune has also seen other recent additions to Smartworks’ business. The company expanded its engagement with L&T Technology Services in the city to more than 1,100 seats, while another international professional services company leased more than 930 seats at a Smartworks centre.
Smartworks had crossed 10 million square feet of operational portfolio earlier this year, becoming the first listed flexible workspace provider in India to reach that level, according to the company.
The latest Pune addition comes as companies continue to use managed office space for enterprise operations, including larger teams and flexible workplace requirements. For Smartworks, the additional capacity will add to its existing operational portfolio and strengthen its presence in one of India's established office markets.
Source Reuters
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