Smart Office Spaces
The motivation to disrupt the commercial office space in India stemmed from first-hand expo- sure to progressive ‘future work- spaces’ in the Western world.
The Co-founder of Smartworks, Harsh Binani witnessing the shortcomings of traditional offices in India, noted issues such as poor design, low employee energy, and limited flexibility. This realisation became the driving force behind the inception of Smartworks, aiming to redefine workspaces and reimagine the office experience.
Transformative Trends
Smartworks boasts having over 40 centres in 14 cities, with an expanding footprint of around 8 million square feet. Over the last three years, Smartworks has navigated transformative trends in India’s commercial office space. Post-covid,the company recognised irreversible changes positioning India as the potential ‘office to the world.’ The surge in demand for hybrid work solutions, prioritising employee well-being, larger enterprises embracing scalable flex solutions and a focus on sustainability have defined the landscape. Smartworks has seamlessly integrated these trends, marking a significant shift in the industry.
Growth In Numbers
Started as a bootstrapped co-working company, it has evolved into a managed workspace platform. In 2019, the startup secured USD 40 million in equity in Series A round. While discussing the company’s financial performance, Binani clarifies, “We have prioritised profitability and cash flow, providing the financial stability necessary to scale operations without heavy reliance on external funding.” In FY23 revenue soared to about Rs 750 crore from Rs 394 crore in FY22. He anticipates FY24 to reach Rs 1200 crore.
Future Plans
Smartworks’ current focus revolves around continuous innovation in managed spaces, with a distinctive campus solution model and a commitment to making workspaces aspirational. The company’s goal is to achieve 25 million square feet space. in the next four to five years, anticipating FY24 to reach Rs 1200 crore revenue. Binani emphasises, “Driven by our distinctive campus solution models, we will continue to evolve and expand to provide companies with a comprehensive experience for their employees.” Going ahead, Smartworks’ journey reflects a commitment to innovation, adaptability and a customer-centric approach to redefine India’s commercial office spaces.
