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Smartworks Reviews

Gurugram, Haryana

—/ 5

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Smartworks Coworking Spaces Limited is India's leading platform for managed workspace solutions, catering primarily to large enterprises, multi-national corporations (MNCs), and high-growth unicorns. Founded in 2015 by Neetish Sarda and Harsh Binani, the company is headquartered in Gurugram, India. While traditional coworking spaces historically focused on freelancers or early-stage startups, Smartworks strategically pioneered a focus on "productivity" and scale for large corporate clients, effectively capturing a substantial share of the institutional market. The company operates under an enterprise-centric "Office-as-a-Service" (OaaS) business model. Instead of buying real estate, Smartworks follows an asset-light strategy, entering into long-term lease agreements with commercial landlords and developers. It then utilizes its standardized procurement and in-house design teams to transform bare-shell properties into tech-enabled, fully serviced office campuses. These campuses are highly amenitised, featuring modern layouts integrated with cafeterias, sports zones, smart convenience stores, gymnasiums, crèches, and medical centers. Approximately 90% of Smartworks' revenue is derived from enterprise clients (organizations with more than 200 employees), which ensures long-term lease commitments (typically 3 to 5 years), robust occupancy levels exceeding 85-90%, and lower tenant churn. Smartworks has established a significant pan-India footprint that spans major Tier-1 and emerging Tier-2 hubs, including Delhi-NCR, Mumbai, Bengaluru, Pune, Hyderabad, Chennai, Jaipur, Indore, and Kochi. By the conclusion of fiscal year 2026, the company successfully crossed a major operational milestone of 10 million square feet under management. To further capitalize on its project design capabilities, the company has diversified into asset-light, margin-accretive revenue streams such as Fit-out-as-a-Service (FaaS) and specialized digital workplace technologies. Financially, Smartworks achieved a critical turnaround in the fiscal year ending March 31, 2026. The company reported a consolidated revenue of INR 1,796 crore—marking a 31% year-on-year expansion—and achieved a net profit of INR 10.52 crore, successfully recovering from a consolidated net loss of INR 63.17 crore in fiscal year 2025. This financial transition has strengthened institutional confidence as the platform progresses with its public market trajectory, having previously filed its Draft Red Herring Prospectus (DRHP) with SEBI to execute an initial public offering (IPO). Backed by prominent global investors including Keppel Land, Mansoul Commercial, and various international family offices, the company is publicly traded on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) under the ticker SMARTWORKS.