Hyderabad:SmartWorks Consorking Spaces Limited (“SmartWorks” or “Company”) today announced the expansion of its portfolio to lease more than 2.02 million square feet of office space in DLF Cyber City, Gachibowli, Hyderabad. The new space addition brings the company’s overall footprint in Telangana Hyderabad to 1 million square feet.
Located in the 3 blocks of DLF Cyber City, the new office space marks the fourth center of Smartworks in Hyderabad, complementing its existing locations at Purva Summit (Raidurg), Galaxy (Kondapur) and Raheja Mindspace-3A and 3B (Madhapur) (Madhapur)
Strategically, the new center is located in Gachibowli’s IT corridor, close to Hitec City, providing connectivity to the outer loop. The location is surrounded by residential water collection, retail hubs, shopping centers and hotels, with access to subway stations and airports.
Commenting on the expansion, Neetish Sarda, founder of SmartWorks, said: “The commercial office landscape in Hyderabad has grown significantly, driven by the needs of various departments. The expansion and growth in Hyderabad reflects the stable needs of residents and the need for a comprehensive management of modern facilities for today’s work, tailored workspaces”.
Earlier this year, SmartWorks announced that it had added more than 47 million square feet of office space to the DLF commercial tower in Gurugram.
SmartWorks, the total inventory as of March 31, 2024, is one of the largest campus operators and one of the benchmark peers.[1]. It focuses on medium-term businesses and has a diverse clientele with over 600 clients, including Indian companies, multinational companies and startups operating in India.
As of August 14, 2024, the application date for the Red Herring Draft, the total construction area of SmartWorks is 9.12 million.[2] Square foot between 45 centers of 13 cities.
The SmartWorks campus is equipped with modern and beautiful designs, using an extensive design library, integrated proprietary technology solutions, and facilities such as cafeterias, sports areas, smart convenience stores, gymnasiums, cream shops and medical centers.
CBRE reports India’s flexible workspace segment
Red Herring Prospectus filing date as of August 14, 2024; including SBA’s 520,000 square feet in a center in Pune, the company has signed a non-binding letter of intent with its respective landlords. Also included is the 450,000-square-foot SBA under the variable rental business model, the company has signed a memorandum of understanding with Gurugram’s landlords.
SmartWorks Co-Works Spaces Limited (“Company”) proposes to obtain the necessary approvals, market conditions and other considerations in advance to make public proposals to its stocks for the first time and has filed a draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Commission of India (“SEBI”). The DRHP is available on the websites of the Company at www.smartworksoffice.com, SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, JM Financial Limited at www.jmfl.com, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) at www.iiflcap.com, Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com, Bob Capital Markets Limited, the stock exchange websites of www.bobcaps.in and www.nseindia.com and www.bseindia.com. Any potential investor should note that investment in stocks involves high risks, and for details on such risks, see DRHP’s “Risk Factors”. Potential investors should not rely on DRHP for any investment decisions.
