The IPO-bound managed workspace provider Smartworks Co-working Spaces has leased over 0.22 million square feet (msf) of office space in Hyderabad, taking its portfolio in the city to over a million square feet.
The space in DLF Cyber City in Gachibowli is Smartworks’ fourth centre in Hyderabad after Purva Summit (Raidurg), Galaxy (Kondapur), and Raheja Mindspace- Building 3A and 3B (Madhapur), the company said on March 18.
“Hyderabad’s commercial office landscape has evolved significantly, driven by demand across diverse sectors. Our expansion and growth in Hyderabad reflects the steady demand from occupiers and the need for fully managed, tailored workspaces with modern amenities for today’s workforce,” Smartworks founder Neetish Sarda said.
Also Read: Keppel-backed Smartworks Coworking Spaces plans IPO, files DRHP with SEBI
Situated in the IT Corridor, the new centre is in close to HITEC City, offering connectivity to the Outer Ring Road. It is surrounded by residential catchments, retail hubs, malls, and hotels, with access to both the metro station and the airport, the company said.
Earlier this year, Smartworks announced addition of over 0.47 million square feet of office space in DLF Commercial Tower in Gurugram.
Smartworks, backed by global asset manager Keppel, was one of the largest managed office space operators in terms of total stock at the end of FY24. It focuses on mid-to-large enterprises and has a diverse clientele, with more than 600 clients, which includes Indian corporates, MNCs and startups.
As on August 14, 2024, when it filed draft documents for the IPO, Smartworks had a total super built-up area of 9.12 million square feet across 45 centres in 13 cities. In December, the company got SEBI’s nod to launch its offering.
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