Smartworks, a managed office platform, has leased 1.82 lakh sq ft of managed office space in Mumbai’s Andheri (East), taking its total managed office portfolio in the city to 2 million sq ft, the company said in a statement on February 11.
The space, developed by Lloyds Realty Developers Ltd, is located in The Square, near the MIDC commercial district and Chhatrapati Shivaji Maharaj International Airport (T2). The office space is also close to the Aqua Metro Line’s T2 station and Marol Naka on Metro Line 1, the company said.
Neetish Sarda, managing director and founder of Smartworks, said Mumbai remains a strategic market for the company, driven by sustained enterprise demand across major business districts. “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.”
Also Read: Smartworks leases around 1.66 lakh sq ft office space to Wolters Kluwer in Pune
Ravi Agarwal, chairman and managing director of Lloyds Realty Developers, said the transaction underlines Mumbai’s enduring appeal as a commercial destination and reflects the growing preference among occupiers for high-grade, professionally managed office spaces. “Our partnership with Smartworks builds on a proven managed office model that combines execution capability, operational depth and long-term demand visibility, making it well aligned with how occupiers are approaching office strategy today.”
Smartworks, which got listed last year, has a portfolio of 15.3 million sq ft across 63 centres in 15 cities in India and Singapore. The company leases large bare-shell properties and transforms them into Smartworks-branded, fully serviced campuses with amenities such as cafeterias, gyms, sports zones, crèches, medical centres, and convenience stores.
Also read: Smartworks leases around 1.68 lakh sq ft of office space to a leading IT services major in Kolkata
Previous transactions by Smartworks
Last year, the company leased approximately 1.68 lakh sq ft in Kolkata to a global information technology, consulting, and business process services provider. The office space is distributed across two Smartworks campuses, Victoria Park and Mediasiti, located in Kolkata’s commercial micro market at Salt Lake City, Sector V.
The company also expanded its presence in Mumbai by leasing a 5.57 lakh sq. ft. campus at Intellion Park in Navi Mumbai, a marquee development by Tata Realty and Infrastructure Limited.
In November, Smartworks leased around 1.66 lakh sq. ft. in Pune to Wolters Kluwer (India) Pvt. Ltd., an information, software solutions and services provider for professionals. The office is located at Smartworks’ Marisoft campus in Kalyani Nagar, one of Pune’s key micro-markets.