Smartworks has leased 1.82 lakh sq ft of office space in Mumbai to set up a new co-working centre. The company has taken this large commercial area on lease to expand its footprint and cater to the growing corporate demand for premium workspaces. With this strategic move, Smartworks continues to strengthen its presence in office space in Mumbai, which is witnessing robust demand from enterprises.
Office space in Mumbai a key growth driver.
The newly launched centre is located at ‘The Square’ project in Andheri (East), Mumbai. This IGBC Gold-certified, environmentally friendly office complex offers excellent connectivity to key business and residential hubs, including Chhatrapati Shivaji Maharaj International Airport (T2), the MIDC commercial district, Marol Naka Metro Station, and the Aqua Metro Line’s T2 station. Due to such superior connectivity and infrastructure, office space in Mumbai remains highly attractive for corporates. This latest expansion has further consolidated Smartworks’ market position, as the company considers office space in Mumbai a key growth driver.
Smartworks has leased 1.82 lakh sq ft of office space in Mumbai
In a regulatory filing issued on Wednesday, the company stated that it has expanded its footprint by leasing 1,82,374 sq ft of managed workspace at The Square project. Speaking on the occasion, Neetish Sarda, Managing Director and Founder of Smartworks, highlighted the strong and consistent demand for quality office space in Mumbai across major business districts. He said, “With our portfolio in the city now crossing 2 million sq ft, we are well positioned to cater to both current and emerging managed office requirements, as demand from enterprises in India’s financial capital continues to remain steady.”
Smartworks follows a business model of leasing large commercial buildings and transforming them into enterprise-focused, managed office campuses. Under the Smartworks brand, these bare-shell properties are converted into fully serviced office spaces equipped with modern amenities such as cafeterias, gyms, sports zones, crèches, medical centres, and convenience stores. Due to these premium facilities, the demand for office space in Mumbai offered by Smartworks is steadily increasing. Currently, the company operates across 63 centres in 15 cities in India and Singapore, with a total portfolio of 15.3 million sq ft.
Commenting on the transaction, Ravi Agarwal, Chairman and Managing Director of Lloyds Realty Developers, said that the deal highlights Mumbai’s enduring appeal as a prime commercial destination. He added that the partnership with Smartworks reflects the growing preference among occupiers for high-quality, professionally managed office space in Mumbai, supported by strong execution capability, operational depth, and long-term demand visibility.
Smartworks has consistently demonstrated strong performance in the managed workspace segment. In recent months, the company leased a 5.57 lakh sq ft campus at Intellion Park in Navi Mumbai, developed by Tata Realty and Infrastructure Limited, further strengthening its footprint in office space in Mumbai. So With this addition, the company’s total portfolio in the city has crossed 2 million sq ft. This includes the world’s largest managed office campus spanning 8.15 lakh sq ft at Eastbridge in Vikhroli, developed in partnership with the Hiranandani Group, and the large campus at Intellion Park in Navi Mumbai. Therefore, with this deal just concluded, another prestigious crown has been placed on the economic crown of Mumbai city and it’s financial status.
Excellent connectivity, modern infrastructure, and a strong business ecosystem have significantly boosted the demand for office space as well as land price in Mumbai. Companies increasingly prefer well-designed, fully serviced office environments that enhance employee convenience, productivity, and operational efficiency. As a result, premium managed workspaces are emerging as a preferred choice for corporates, making Mumbai one of the most dynamic commercial real estate markets in India.
