New Delhi, February 12 Smartworks Coworking Spaces Ltd, a real estate firm, has leased 1.81 lakh square feet of office space in Mumbai to expand its portfolio in response to growing demand for prime workspaces from corporations.
Smartworks, which listed on stock exchanges last year, leases office space to establish its centers and then sub-leases the workspaces primarily to large corporations.
In a regulatory filing on Wednesday, the company announced that it has expanded its presence in Mumbai with the addition of 1,82,300 sq ft of managed office space in a project called "The Square," developed by Lloyds Realty Developers Ltd.
Neetish Sarda, Managing Director and Founder of Smartworks, stated that Mumbai remains a strategic market for the company due to the strong demand for workspaces from enterprises in key business districts.
"With our portfolio in the city now exceeding 2 million sq ft, we are well-positioned to meet both current and emerging needs for managed office spaces, as demand from enterprises in India's financial capital continues to remain strong," he added.
Currently, Smartworks has a portfolio of 15.3 million sq ft across 63 centers in 15 cities in India and Singapore.
