Smartworks initially announced the lease in May but did not disclose the financial details at that time. The addition of the 43 EQ space increases Smartworks’ portfolio in Pune to over 3 million sq ft, contributing to its total managed portfolio of 8 million sq ft across major Indian cities including the National Capital Region, Mumbai, Bengaluru, Kolkata, Chennai, and Ahmedabad.

The Balewadi area, situated along the Mumbai-Bengaluru highway, has become a prominent hub for technology firms, startups, and global capability centers of major industries. Additionally, it has emerged as a key destination for retail and dining in recent years. The 43 EQ property leased by Smartworks is located near other properties managed by the company, as well as large leases secured by other office space operators in the area over the past few years.

Smartworks coworking spaces gears up For IPO

Earlier, this month the Gurugram-based flexible office operator Smartworks Coworking Spaces had filed its preliminary papers with markets regulator Securities and Exchange Board of India to mobilise funds through an initial public offering (IPO).