Smartworks – the company known to provide flexible office spaces has acquired over 2,70,000 square feet space in Noida via long-term lease i.e. for nine years. This space is the largest facility for the company with a seating capacity of 5,500 and is located adjacent to the Delhi-Noida Expressway.
This Delhi-based co-working spaces operator went into eight new lease agreements that has taken the land acquisition to approximately 8,00,000 sq ft in different cities like Bengaluru, Chennai, Pune and Noida. This process has begun since January this year.
Smartworks has made its presence felt in approximately 2.8 million sq ft, with a total investment of $25 million till now.
Harsh Binani, Co-founder said that the company is working on business expansion across the cities and approximately 60% of these facilities are functional and the remaining will become operational soon as we have already finalized deals with the clients for all of them.
Since January 2019, the company is expanding its business in southern and western India as currently, they stand at 10 million sq ft by 2022
Binani also said that the company has grown up to Rs.100 crores revenue and the year has been profitable for the company at the corporate level.
Presently, the company has 35,000 seats in 23 centres in nine cities, including the national capital region (NCR), Mumbai, Bengaluru, Hyderabad, Pune, Chennai and Kolkata.