The company made its pan India foray in April 2016 and in a span of 16 months has emerged as a formidable and fastest growing player in the shared office space and co-working segment.
Smartworks presently has 16 centres across nine cities with covering more than 900,000 sq. ft. space and plans to expand to 3 million square feet, in over 20 Tier 1 and 2 cities, pan-India by the year 2020. The total investment Pan-India (till date) is approximately Rs 150 crore while total investment in Chennai is approximately Rs 20 crore. The Guindy center saw an investment of approximately Rs 7-8 crore.
The OMR center (will be opened soon) will be built at approximately Rs 12-15 crore. Neetish Sarda, who founded Smartworks along with Harsh Binani, the Co-Founder tells us, “Chennai has witnessed a rapid growth in the past from IT/ITES/ BFSI/Auto Ancillary sectors.
The overall market sentiment is turning more receptive towards shared workspaces. Guindy being a hub for SMEs is well connected making it a desired location for setting up a serviced office space.”
The Chennai centre has a client base comprising companies such as Redington India Ltd, Morgan Advanced Materials India (P) Ltd, Greaves Cotton Ltd amongst others. Smartworks is planning to further expand its operations in the city and to other parts of Tamil Nadu in the future, particularly Madurai and Coimbatore.