Smartworks Reports Rs.50 Crore Loss in FY24 Amid Expansion Efforts

23 Aug 2024 CW Team

Smartworks, one of India?s prominent coworking space providers, has reported a ?50 crore loss for the financial year 2023-24 (FY24). The significant loss comes as the company continues its aggressive expansion in the highly competitive coworking sector.

Despite the financial setback, Smartworks remains optimistic about its long-term growth prospects. The company has been focusing on scaling its operations, expanding its presence across major cities in India. This rapid expansion has contributed to increased operational costs, which Smartworks attributes as a key factor in the reported loss.

The coworking industry has been facing several challenges, including fluctuating demand and rising operational expenses. However, Smartworks has continued to invest in new spaces, aiming to cater to the evolving needs of modern businesses seeking flexible office solutions. The company believes that its current strategy will pay off in the long run, despite the short-term financial impact.

Smartworks? CEO emphasized that the losses are a part of the company?s growth strategy, driven by the need to establish a strong foothold in the market. The firm is banking on the growing demand for flexible workspaces as businesses adapt to hybrid work models post-pandemic.

Looking forward, Smartworks plans to streamline operations and focus on achieving profitability. The company is also exploring strategic partnerships and cost-cutting measures to enhance its financial performance in the coming years.

While the ?50 crore loss marks a challenging year, Smartworks remains committed to its vision of becoming a leader in the coworking space industry, with a strong focus on innovation and customer-centric services.

Real Estate

13 May 2026

Sanghvi Palazzo Gets OC Ahead of RERA Timeline

Sanghvi Realty has received the Occupation Certificate (OC) for its residential project Sanghvi Palazzo in Andheri West, Mumbai, around 18 months ahead of its RERA possession deadline of December 2027.Located on Jai Bhavani Mata Road, Ambivali, the project comprises a G+9 residential development with 41 apartments, including 1, 2 and 3 BHK configurations ranging from 358 sq. ft. to 770 sq. ft. carpet area.The company said the receipt of the OC marks the completion of all regulatory approvals and construction activities for the project.Pakshal Sanghvi, Director, Sanghvi Realty, said timely deli..

Gradiant Deploys AI Data Centre Water Solution Globally

Gradiant has announced the deployment of HyperSolved, its end-to-end cooling water solution for AI data centres, with several global hyperscale operators across major international markets.The company said the platform has been designed to address rising water infrastructure challenges linked to the rapid expansion of AI-driven data centres, which require significantly higher cooling and water consumption compared to traditional facilities.According to Gradiant, HyperSolved integrates the complete cooling water lifecycle, including sourcing, treatment, reuse and discharge, into a single platfo..

Kaiterra Opens Dubai Hub for GCC Building Projects

Kaiterra, a global indoor air quality monitoring and optimisation company, has opened its regional hub in Dubai to strengthen its presence across the Gulf Cooperation Council (GCC) markets.The new office marks Kaiterra’s first permanent base in the Middle East and will support clients and partners across the region under the leadership of Henry Ng, Regional Director, Middle East.The company said the expansion comes amid rising demand for sustainable and high-performance buildings across the GCC, supported by large-scale national development programmes including Saudi Vision 2030, UAE Centenn..