Smartworks Coworking Spaces Ltd expanded its presence in Singapore through its wholly owned subsidiary Smartworks Space Pte Ltd, adding a new managed office space at Manulife Tower in the Central Business District (CBD). With this addition, the company's total footprint in Singapore grows to over 50,000 sq ft, underscoring its commitment to delivering managed workspace solutions across the city-state.

New Managed Office at Manulife Tower

The new fully serviced office space spans over 15,000 sq ft within the LEED Gold and Green Mark Gold-certified Manulife Tower. The facility is designed to serve enterprises ranging from high-growth businesses to Fortune 500 companies and Global Capability Centres (GCCs). Strategically positioned above Telok Ayer MRT station, the location offers access to dining, retail, and wellness facilities.

The Manulife Tower centre features Smartworks' signature managed workspace offering, including bespoke design, ergonomic furnishings, private meeting suites, and collaboration zones. This new centre joins the company's existing Singapore portfolio at Great Eastern Centre on Pickering Street and Keppel Bay Tower at HarbourFront Avenue.

Leadership Commentary

Neetish Sarda, Founder & Managing Director, Smartworks, highlighted Singapore's strategic importance as a gateway to Asia's business community. He stated that the demand for fully serviced workspace continues to grow strongly and that the expansion reflects the company's conviction that enterprises need flexible, operational workspaces. Sarda expressed confidence in the market's trajectory due to the growth of GCCs and multinational enterprises.

Financial and Operational Performance

The Singapore expansion is part of Smartworks' broader growth momentum following its FY26 results, its first financial year as a listed company. The company delivered record revenue of ₹1,796 crore, representing 31% year-on-year growth, alongside its first full year of reported PAT profitability. During the year, Smartworks also became the first listed flexible workspace operator in India to cross 10 million square feet of operational portfolio.

The following table summarises key financial and operational metrics:

Smartworks Coworking Spaces Limited has leased over 400 seats to a subsidiary of a Japanese Non-Banking Financial Company (NBFC) in Mumbai. The five-year engagement is estimated to generate a rental revenue of ~INR 35 Crore, reinforcing the company's position in the managed workspace segment.

Deal Highlights

The transaction details are summarised below:

Strategic Significance

This agreement highlights the increasing demand among international financial institutions for flexible, managed workspace solutions in India's key commercial hubs. Neetish Sarda, Founder and Managing Director, Smartworks, stated that large teams require operationally seamless space built to scale, which the company's managed campus model delivers.

The deal aligns with Smartworks' focus on the large-format enterprise segment. Clients with 300 or more seats account for ~69% of the company's rental revenue, with an average tenure of ~47 months for this cohort. Approximately 90% of the company's revenue comes from enterprise clients.

As of March 31, 2026, Smartworks has a total footprint of ~16.1 million sq. ft. across 66 centres in 15 cities in India and Singapore. The company partners with developers to lease large buildings and transform them into fully managed enterprise campuses.