Neetish Sarda: Smartworks leases 5.6 lakh sq ft office space in Pune; invests Rs 150 cr on new centre

 


New Delhi, Aug 19 (PTI) Managed office space provider Smartworks has leased a 5.6 lakh sq ft area in Pune, and invested around Rs 150 crore to set up a new centre as part of its strategy to expand the business amid rising demand for flexible workspaces.

Real estate consultant JLL India helped Smartworks in taking this large office space on lease in a premium commercial property ''M-AGILE'' at Baner in Pune.

Noida-based Smartworks said in a statement that it has taken on a lease 5.6 lakh sq ft office space from a developer to set up its seventh centre in Pune.

Smartworks and JLL India have termed the leasing deal of 5.6 lakh sq ft as the "biggest" in the flexible office space segment.

The new centre, with a capacity of over 8,500 desks, has been set up with an investment of around Rs 150 crore, Smartworks said.

The new coworking centre will become operational in September. Around 40 per cent area has already been given on lease to corporate clients.

Smartworks founder Neetish Sarda said, "It has been a high growth trajectory for us in Pune in the last three years. Our growth has been driven by customer requirements for flexible office spaces that support collaboration, innovation and productivity".

He said this new centre is the largest in the company''s portfolio and the flex office space segment.

Sarda said the company''s focus is not just to offer workspaces to corporate clients but a standardised and engaging office experience with value-added services and benefits in a campus-like infrastructure.

"Our digitally-enabled spaces provide them with a completely managed ecosystem with state-of-the-art amenities, alliances, community-building events, and networking opportunities," he added.

With the seven centres in Pune, Smartworks now has a total footprint of about 1.4 million square feet and over 25,000 seats.

Overall, Smartworks has 31 centres, comprising over 4.2 million square feet area and more than 70,000 seats, in nine cities -- Delhi, Noida, Gururgram, Mumbai, Pune, Hyderabad, Bengaluru, Chennai and Kolkata.

"We are excited to have facilitated the biggest deal to date for a flexible office space in India," said Sanjay Bajaj, Managing Director - Pune, Logistics and Industrial, India, JLL.

Flexible space stock has grown in the Pune City by over four times from 0.7 million sq ft in 2017 to 3 million sq ft in 2021, he added. PTI MJH BAL

 

Source: Neetish Sarda: Smartworks leases 5.6 lakh sq ft office space in Pune; invests Rs 150 cr on new centre

 

Comments

Post a Comment

Popular posts from this blog

Neetish Sarda: Smartworks leases 2.5 lakh sq ft in Hyderabad's Aurobindo Galaxy

Image
  NEW DELHI:  Smartworks , a homegrown co-working startup, has leased 2,50,000 square feet in  Hyderabad ’s Aurobindo Galaxy, taking its total operational space in the city to 4 lakh square feet, a senior executive of the company said on Tuesday. This, at a time demand for flexible office spaces has risen after pandemic-induced lockdowns. Companies are weighing a hybrid working model—work from home and office—amid the need to maintain social distancing to reduce the risk of contracting the novel coronavirus. In fact, Smartworks is on an expansion spree—planning new facilities in Noida, Uttar Pradesh, and more coworking spaces in Hyderabad,  Bengaluru  and Pune. “We have actually doubled our footprint in Hyderabad. Hyderabad is an important part of our strategy. After Bangalore, it is the largest in terms of size and potential. Our first facility, Purva Summit, is 80-85% occupied by enterprises and high-growth startups,” said Neetish Sarda, founder at Smartworks. According to
Read more

All About Smartworks Founder Neetish Sarda

Image
Neetish Sarda is a young entrepreneur who started his journey in the real estate industry at the young age. He founded Smartworks after recognizing the need for Managed & flex office space for large enterprises, MSMEs & Highly start-up companies in India .   Smartworks Coworking Space is one of the fastest-growing and most innovative managed & flex spaces in India. Neetish Sarda is the founder of Smartworks & the company was founded in 2016 and has quickly become one of the India’s largest flexible office space providers .   Neetish is also recognized for his achievements and was named as one of the top entrepreneurs under the age of 30 in India by Forbes in 2018. He comes from Business Family from West Bengal; The Sarda Family & He is the son of Mr Ghanshyam Sarda who has a big name in the field of business.       Neetish Sarda vision is to create a modern flex workspace with tech enabled facilities , also provided an environment that fostered collaborati
Read more

Neetish Sarda: Productivity Tools: Getting Ready for Flexible Office Spaces

Image
As economies across the world contemplate on the next best move to find their way out of Covid-19, office space providers are grappling with troubles of their own. The pandemic disrupted some of the best-laid plans of almost every industry vertical and one of the most severely affected was the commercial real estate sector.  As per a study by Deloitte, 50% of CXOs reported a 25% disruption in both business and work during the peak of Covid-19 last year. Manufacturing and retail operations saw the biggest of disruptions as 85% of these were impacted due to their heavy dependency on factories and unmovable machinery.  The hybrid model finds greater acceptance. March to September of 2020 was evidence enough for companies, especially large enterprises, to resort to various workspace models that ranged from work-from-home (WFH) to work-near-home. Now, many are turning their attention towards the flexible workspace model.  This has resulted in a ‘Hybrid Model’ where a company opts for a bal
Read more