Smartworks to invest Rs 600 Cr in FY27 to expand biz, meet rising demand for managed office spaces
The Gurugram-based listed realty firm has signed up more than 3.5 million square feet of space, which is either under construction or coming up for construction.
Gurugram-based real estate firm Smartworks plans to invest around Rs 600 crore in its existing and upcoming managed office space centres in the fiscal year 2027 to meet the growing demand for such workspaces. The company, which operates in 15 cities across India and Singapore, reported a revenue of Rs 1,850 crore in the fiscal year 2025-26.
During a call with market analysts, Smartworks Founder and Managing Director Neetish Sarda mentioned that the company's capital expenditure estimate for the year is between Rs 550 crore and Rs 600 crore. This includes refurbishment costs and new construction expenses. Smartworks has already signed up over 3.5 million square feet of space, which is either under construction or set to be constructed.
The company leases entire buildings from leading developers and landlords and turns them into well-managed, amenity-rich campuses. Smartworks provides a comprehensive workspace solution to corporate clients, with a platform that has grown to almost 17 million square feet of total area and over 760 clients, ranging from Fortune 500 companies to MNCs, Indian conglomerates, and unicorns.
Over 1.5 lakh professionals work from its campuses daily, with committed contracted revenue standing at approximately Rs 5,400 crores. Smartworks Executive Director Harsh Binani highlighted that the company is the largest platform in the industry, with a 10.4 million square feet operational footprint, which enables it to secure preferred terms from landlords and lower unit costs.
The firm has reported a consolidated net profit of Rs 13.14 crore for the quarter ended June 2026, compared to a net loss of Rs 4.19 crore in the same quarter of the previous year. Total income rose by 44 per cent, reaching Rs 559.66 crore in the April-June 2026-27 period. Real estate consultants Colliers India and Cushman & Wakefield have noted a significant increase in the rental of coworking spaces, with 8.6 million square feet rented in the first six months of 2026, up 32 per cent year-on-year, to cater to the rising demand for flexible workspaces.
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