From IPO to Impact: What’s Next for India’s Largest Managed Office Platform

After a successful public debut, Smartworks is doubling down on scale, partnerships, and smarter workplaces for global enterprises For many companies, going public is the finish line. For Smartworks, it’s a comma, not a full stop.

When the company debuted on the stock exchanges in July 2025, it marked an important milestone — not just for Smartworks, but for the entire flexible workspace industry in India. The IPO was oversubscribed nearly 14 times and listed at a premium, reflecting strong investor confidence in the company’s model and long-term growth story.

In less than a decade, two first-generation entrepreneurs Neetish Sarda and Harsh Binani had taken a bootstrapped idea and turned it into the country’s largest managed office platform, thereby, creating a new category.

Smartworks has a footprint of ~ 12 million square feet of workspace across 14 cities, serving more than 700 large enterprises — including names like Google, EY, Groww, Persistent, and Bridgestone among others. The company ended FY25 with revenues of around ₹13,000 million, steady profitability, and occupancy levels above 83%. These numbers tell a story of growth, yes, but also of discipline.

The business was built to scale responsibly. Smartworks operates on an asset-light model, taking entire buildings on long leases and transforming them into managed campuses that are delivered in as little as 60 days. This structure keeps capital costs low while allowing the company to expand quickly and sustainably. Every rupee invested works hard, and every new campus pays back faster— often within three years of a 15-year lease.

This frugal mindset is one of Smartworks’ quiet strengths. It allows the company to grow without overextending itself, maintaining financial health even while adding new sites and services. Over time, this approach has turned what started as a bold experiment into a business with strong fundamentals — steady cash flow, predictable earnings, and loyal enterprise clients.

The company’s partnerships with major institutional developers like DLF, Raheja and Tata Realty reflect the maturity of its model. Institutional landlords now see Smartworks as a reliable long-term occupier, not just a tenant. These relationships are opening doors to new locations and larger campuses, particularly in Tier 1 and emerging Tier 2 business hubs. It’s also the only Indian-origin flexible workspace company with an overseas presence — having expanded to Singapore last year with a 35,000 sq. ft. office

Whether it is the 700,000 sq. ft campus in Bangalore or the recent lease at Tata Realty’s Intellion Park, Smartworks has shown scale with commitment and occupancy. It has 4-5 large campuses over 5 lac sq ft in its portfolio. Many of these campuses are also designed with sustainability in mind using energy-efficient lighting, smart automation, and green zones that make workplaces healthier and lighter on the planet.

But the next phase of growth won’t be measured only in square feet. Smartworks is now deepening its enterprise ecosystem — bringing together technology, services, and partnerships that make workplaces more intelligent and people-friendly. From design and delivery to day-to-day operations, the goal is to create spaces that think for the people who use them.