Smartworks said in a release that the campus, slated to be the largest tech park in Navi Mumbai, is already attracting interest from marquee clients, due to its location and amenities
Smartworks is slated to be the second major flex space player to head to a public listing, after Awfis Space Solutions listed last year
The starting rent of Rs 73 per sq ft per month has a 4.77 percent escalation built in every annum.
The company in a statement said it has forayed into Ahemdabad market and has taken over 56,000 square feet of office space on lease at Nehru Nagar in Ahmedabad.
Smartworks, which was founded in April 2016 by Neetish Sarda and Harsh Binani, currently has a portfolio of more than 7 million square feet across 38 locations in 11 cities.
The Noida-based company claims that, once operational in the final quarter of 2022, this will be the single-largest flex space campus in the world.
The facility will be operational from May 2022
The new firm 'Smartworks Technology Services' will be a 100 per cent subsidiary of Smartworks and it aims to launch a building operating platform and workspace management SaaS product.
The deal comprises more than 2000 seats across Mumbai and Pune
The Grade A property, M-AGILE is in Pune's prime locality and offers access to strategic destinations such as IT Park Hinjewadi, Balewadi High Street and Mumbai-Pune Expressway.
Smartworks' total footprint across the country is likely to touch 7 million sq ft by the end of the year; Expansion plans afoot in cities such as Bengaluru, Hyderabad and Delhi-NCR.
The co-working space provider plans to utilize the funds to expand its operations in tier-1 and 2 cities to at least 35-40 centres.
The three-year-old Noida-based company is also eyeing a twofold increase in revenue for the fiscal to Rs 320 crore.
Founded in April 2016, Smartworks has presence at 23 locations in 9 cities with a total footprint of 2.8 million sq ft, the company said in a statement.
The company hopes to raise investment worth $30 million for expansion. Going forward, 10 to 15 percent of its new supply would be located in malls, warehouses and institutions.
Since its inception in April 2016, Smartworks has been aggressively expanding its footprint across key cities in India due to the growing demand for agile workspaces.
With opening of this new facility, Smartworks has 20 centres with total seating capacity of 33,000 and 2 million sq ft area, the company said in a statement.
Plans expanding footprint to at least 10 million sq ft over the next three to five years
Founded in April 2016, Smartworks has 15 operational facilities across nine cities covering 16,000 seating capacity. It will soon add three more centres, taking the total number of centres to 18 with a capacity of 20,000 seats.
The company has become profitable with its revenue rising 15 percent month-on-month, Smartworks founder Neetish Sarda said.
With the launch, the total number of centers by the company total up to 15 across nine cities