Smartworks leases 450,000 square feet in Gurugram

15 Oct 2024 CW Team

“Gurgaon is a key market for us. Our expansion aligns with our growth strategy to acquire large properties across India, enabling us to offer tailored and fully managed workspaces equipped with various value-added services and amenities,” stated Neetish Sarda, founder of Smartworks.

Located in Vatsal Valley, Gurgaon, the 50-acre LEED-certified campus features a low-density green development that houses tenants such as Mercer, IBM, Ericsson, EXL, GlobalLogic, and Nestle.

“Through our partnership with Smartworks, we will provide office space to both SEZ and non-SEZ occupiers across warm shell, fitted-out, and managed service solutions. All necessary approvals are in place,” added Anil Saraf, chairman of ASF Group.

ASF has successfully delivered around 5 million square feet of commercial real estate projects. Recently, the ASF Insignia received approvals for domestic IT and ITeS companies to operate from its SEZ park.

In addition, Smartworks has filed preliminary documents with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). According to the draft red herring prospectus, the company may aim to raise ?110 crore via a pre-IPO placement, with approximately ?140 crore earmarked for loan repayments and the rest for general corporate purposes.

The flexible workspace provider recently raised ?168 crore (around $20.24 million) from investors, including Keppel Ltd., Ananta Capital Ventures Fund I, Plutus Capital, and various family trusts.

With a total portfolio of 8 million square feet and 180,000 seats, Smartworks reported revenues of ?1,039 crore for 2023-24, marking a 46% increase from the previous year. As of March 31, the company has established a presence in 13 cities, encompassing 41 centers across 8 million square feet.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Flexible workspace provider Smartworks has secured a lease for 450,000 square feet at the ASF Insignia Campus in Gurugram. This site primarily functions as a special economic zone (SEZ), and the company plans to adapt some of the space for non-IT tenants. Notably, Zomato has leased approximately 750 seats within this facility. “Gurgaon is a key market for us. Our expansion aligns with our growth strategy to acquire large properties across India, enabling us to offer tailored and fully managed workspaces equipped with various value-added services and amenities,” stated Neetish Sarda, founder of Smartworks. Located in Vatsal Valley, Gurgaon, the 50-acre LEED-certified campus features a low-density green development that houses tenants such as Mercer, IBM, Ericsson, EXL, GlobalLogic, and Nestle. “Through our partnership with Smartworks, we will provide office space to both SEZ and non-SEZ occupiers across warm shell, fitted-out, and managed service solutions. All necessary approvals are in place,” added Anil Saraf, chairman of ASF Group. ASF has successfully delivered around 5 million square feet of commercial real estate projects. Recently, the ASF Insignia received approvals for domestic IT and ITeS companies to operate from its SEZ park. In addition, Smartworks has filed preliminary documents with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). According to the draft red herring prospectus, the company may aim to raise ?110 crore via a pre-IPO placement, with approximately ?140 crore earmarked for loan repayments and the rest for general corporate purposes. The flexible workspace provider recently raised ?168 crore (around $20.24 million) from investors, including Keppel Ltd., Ananta Capital Ventures Fund I, Plutus Capital, and various family trusts. With a total portfolio of 8 million square feet and 180,000 seats, Smartworks reported revenues of ?1,039 crore for 2023-24, marking a 46% increase from the previous year. As of March 31, the company has established a presence in 13 cities, encompassing 41 centers across 8 million square feet.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Real Estate

26 Jun 2026

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

Infrastructure Urban

26 Jun 2026

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..