Smartworks Coworking Spaces Limited will acquire Workstudio Spaces Pte. Ltd, a Singapore-based flexible workspace provider with an operational footprint of 26,000 sq. ft.
The acquisition is done through its wholly owned subsidiary, Smartworks Space Pte. Ltd and the transaction is expected to be completed in July 2026.
The proposed acquisition will be met through funds available with the subsidiary.
Upon completion, Smartworks' Singapore portfolio is expected to expand to four centres, with its footprint increasing to 76,000 sq. ft. and total seating capacity exceeding 1,500. This will more than double the company's presence in Singapore over the last two years.
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It has recently added 15,000 sq ft in Singapore through its wholly owned subsidiary Smartworks Space Pte Ltd, at Manulife Tower in the Central Business District (CBD).
"Our existing centres in Singapore have been profitable over the past two years. Workstudio complements our existing presence by providing access to a high-demand micro-market, diversifying our Singapore portfolio, and broadening our enterprise client base,” said Neetish Sarda, Founder and Managing Director, Smartworks.
As of March 31, 2026, Smartworks has a total footprint of 16.1 million sq. ft. across 66 centres in 15 cities in India and Singapore.
Smartworks' Singapore portfolio includes existing spaces at Great Eastern Centre on Pickering Street and Keppel Bay Tower at HarbourFront Avenue.
Smartworks reported Rs 1,796 crore revenue in 2025-26, an increase of 31%.
Smartworks became the first listed flexible workspace platform in India to cross 10 million square feet of operational area and delivered its first full year of reported PAT profitability of Rs 11 crore versus a loss of Rs 63 crore in FY25, and crossed contracted rental revenue of Rs 5,200 crore.
Company’s total footprint crosses 16.1 million sq ft across 66 centres in 15 cities (including Singapore), up 37% YoY.
Smartworks ended FY26 net-debt-negative, with cash and bank balances exceeding gross debt - confirming a capital structure that funds expansion entirely through internal accruals.
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Gross debt has been reduced by more than 50% since the Company's IPO in July 2025.
