Smartworks Expands Pune Portfolio, Leases 6 Lakh Sq Ft Tower in Balewadi

Managed workspace platform Smartworks has secured a long-term lease for an entire tower comprising 14 floors of office space, spanning 6 lakh sq ft, in Pune’s Balewadi. This strategic move aims to establish a new coworking center, bolstering the company’s presence in the city. The commercial tower, 43 EQ, is located near Balewadi High Street, and the lease agreement extends for 15 years. With this addition, Smartworks' managed workspace portfolio in Pune now exceeds 3 million sq ft.

Neetish Sarda, Founder of Smartworks, expressed enthusiasm about the expansion, stating, “Our growth in Pune has been outstanding, and this expansion aligns with our aim to empower businesses by offering them tailored office solutions to boost productivity and foster growth in a professional, fully equipped, and managed setting.” The company plans to commence operations at the new coworking hub in October, with the facility expected to accommodate over 8,000 desks.

Smartworks’ presence extends across 13 cities, with a portfolio of more than 39 centers covering over 8 million sq ft. The company serves a diverse clientele of over 550, including large enterprises, unicorns, and soonicorns, providing sector-agnostic office solutions.

The upcoming office space in Balewadi is being designed to offer a conducive environment that enhances productivity and fosters collaboration and networking opportunities. The tailored workspace aims to meet the growing demand for flexible office solutions from both large corporations and dynamic startups.

The Indian market has emerged as a rapidly growing hub for flexible office spaces, driven by several factors, including the expansion of startup ventures, evolving work environments, and the need for economical and versatile solutions. The Covid-19 pandemic has further accelerated this trend, as businesses adapt to remote and hybrid working models, seeking to optimize costs while providing safe, efficient, and collaborative environments for their employees.

The shift towards flexible workspaces is expected to continue, as more companies recognize the benefits of these solutions in an ever-changing business landscape. Smartworks' latest expansion in Pune underscores this trend, positioning the company to meet the increasing demand for adaptable and managed office spaces.

By establishing this new coworking center, Smartworks aims to support businesses in enhancing productivity and fostering growth through customized office solutions in a professional and fully managed setting, further solidifying its leadership in the flexible workspace market.