Smartworks Coworking Spaces Limited, incorporated in 2015, is engaged in the business of customized managed workspace solutions, offering fully serviced, tech-enabled office environments with aesthetic designs and essential amenities to meet the specific needs of enterprises and their employees. The company serves mid-to-large enterprises, including Indian corporates, MNCs, and startups, offering modern campuses with design, technology, and amenities like cafeterias, gyms, crèches, and medical centres for employee well-being. As of March 31, 2025, the company served 738 clients with 152,619 seats. Currently, it has 728 clients and 169,541 seats, with 12,044 seats yet to be occupied. As of March 31, 2024, the company holds four of India’s five largest leased centres, including the 0.7 million square feet Vaishnavi Tech Park in Bengaluru, surpassing other campuses in size.

For the year/period ended (Rs. in Cr.)

For year/ period ended ( in Cr.)

• India’s largest provider of enterprise-focused managed office spaces.
• Strong pan-India network with a presence in prime commercial locations.
• High client retention with 90% occupancy rates and long-term contracts.
• Scalable business model supported by strong digital infrastructure and services.
• Strategic partnerships with major developers and landlords.

• Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed by the Company of approx. Rs 114 Crores.
• Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres-Rs 225.84 Crores.

The Company has emerged one of the leading suppliers of office experience and managed campus platforms. Its thrust on MNC customers with long term contracts has yielded desired benefits. Prima facie the issue appears negatively priced, but has good cash surplus for the reported periods. Cash surplus investors may park moderate funds for medium to long term.