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Smartworks to expand footprint to 25 mln sq ft over next five years

Friday, 22 Dec 2023
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Managed office space provider Smartworks has set a target to reach 10 million sq. ft. (msf) across 44 centres in 14 cities by the end of the financial year, with the aim to increase its footprint to 25 msf by adding three to 3.5 mn every year over the next four to five years.

Besides its diverse clientele, the company is looking at doubling its exposure to global capacity centre clients which currently occupy almost 14 percent of the total customer base. It aims to add two more centres in Bengaluru, Chennai or Pune.

Presently, the company has eight msf across 42 centres across the country spread across Tier-I cities such as Delhi, Gurgaon, Noida, Pune, Bengaluru, Chennai and Kolkata. It has opened centres in Tier-II cities such as Jaipur, Ahmedabad, Indore, Kochi and Coimbatore. These are generally between 50,000 and 60,000 sq. ft.

The company targets big enterprises keen on taking up large assets which are large campuses as opposed to independent floors in buildings. The company has such ‘campus centres’ in Noida and Gurgaon, spread across an area of more than two lakh sq. ft., four lakh sq. ft. in Pune and over seven lakh sq. ft. across Bengaluru. At present, it has 12 centres over three lakh sq. ft.

Moreover, Smartworks is also looking to generate a revenue of Rs 1,200 crore this FY.

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