Smartworks Leases over Office Space at DLF Cyber City in Gachibowli, Hyderabad

Hyderabad:Smartworks Coworking Spaces Limited (“Smartworks” or the “Company”), today announced expansion of its portfolio with the lease of over 0.22 million square feet of office space at DLF Cyber City in Gachibowli, Hyderabad. The new space addition brings the company’s total footprint in Hyderabad, Telangana, to over one million square feet.

The new office space, located in Block 3 at DLF Cyber City marks Smartworks’ fourth centre in Hyderabad, complementing its existing locations at Purva Summit (Raidurg), Galaxy (Kondapur), and Raheja Mindspace- Building 3A and 3B (Madhapur)

Strategically situated in the IT Corridor of Gachibowli, the new centre is in proximity to HITEC City, offering connectivity to the Outer Ring Road. The location is surrounded by residential catchments, retail hubs, malls, and hotels, with access to both the metro station and the airport.

Commenting on the expansion, Neetish Sarda, Founder at Smartworks, said, "Hyderabad’s commercial office landscape has evolved significantly, driven by demand across diverse sectors. Our expansion and growth in Hyderabad reflect the steady demand from occupiers and the need for fully managed, tailored workspaces with modern amenities for today’s workforce”.

Earlier this year, Smartworks announced addition of over 0.47 million square feet of office space in DLF Commercial Tower situated in Gurugram.

Smartworks is one of the largest managed campus operators, amongst the benchmarked peers, in terms of total stock as of March 31, 2024[1]. It focuses on mid-to-large Enterprises and has a diverse clientele, with over 600 clients, which includes Indian corporates, MNCs operating in India and startups.

As on August 14, 2024, the date of filing of the draft red herring prospectus, Smartworks had a total super built-up area of 9.12 million[2] square feet across 45 centres in 13 cities.

Smartworks campuses are equipped with modern and aesthetically pleasing designs using extensive design library, integrated proprietary technology solutions and amenities such as cafeterias, sport zones, Smart Convenience Stores, gymnasiums, crèches and medical centres.

CBRE Report Flexible Workspaces Segment in India

Data as on date of the filing of the draft red herring prospectus dated August 14, 2024; Includes SBA of 0.52 million square feet across one centre in Pune for which the Company has signed a non-binding letter of intent with the respective Landlord. Also includes, SBA of 450,000 square feet under the variable rental business model for which the Company has signed a memorandum of understanding with the Landlord in Gurugram.

Smartworks Coworking Spaces Limited ("Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with Securities and Exchange Board of India (“SEBI”). The DRHP is available on the websites of the Company at www.smartworksoffice.com, SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, JM Financial Limited at www.jmfl.com, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) at www.iiflcap.com, Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com, BOB Capital Markets Limited at www.bobcaps.in and the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the DRHP. Potential investors should not rely on the DRHP for any investment decision.