Smartworks Coworking Spaces Expands Footprint with Acquisition of Workstudio Spaces

Smartworks Coworking Spaces has made a significant move by acquiring Workstudio Spaces, a Singapore-based provider of flexible workspaces, via its wholly owned subsidiary, Smartworks Space Pte. Ltd. This acquisition is projected to be finalised in July.

Details of the Acquisition

Workstudio boasts approximately 26,000 square feet of managed workspace in Singapore. Once the acquisition is completed, Smartworks is set to enhance its presence in Singapore to nearly 76,000 square feet distributed across four locations, providing seating for over 1,500 individuals.

Funding for Expansion

The financial resources for this acquisition will be sourced from the funds available within its Singapore subsidiary. Smartworks’ founder and managing director, Neetish Sarda, stated that Singapore is a crucial market for the company. The acquisition is expected to bolster its presence in a high-demand micro market and widen its enterprise customer base.

Current Operations of Smartworks

As of March 31, 2026, Smartworks managed around 16.1 million square feet of workspace across 66 centres in 15 cities including India and Singapore. The company is primarily focused on servicing enterprise clients, which encompass multinational corporations, global capability centres, and large-scale Indian businesses.

Financial Performance

In the fourth quarter of FY26, Smartworks reported a substantial 45% increase in operational revenue, rising to Rs 520 crore from Rs 358 crore in the same quarter the previous year. Additionally, the company achieved a profit of Rs 16.6 crore in Q4 FY26, contrasting with a loss of Rs 8.3 crore in Q4 FY25, indicating that revenue growth has effectively outpaced expense increases.