Smartworks looks to double GCC contribution to revenue, grow at 35% CAGR
Times of India | 10 November 2025
Kolkata: Smartworks Coworking Spaces Ltd (SCSL), one of India's largest managed office platforms, hopes to grow at a CAGR of 30%-35% over the next three years to maintain its leadership position over other major players, said the company's MD Neetish Sarda recently.
SCSL has also set a target to double the contribution of GCCs in its revenue in the next two years. GCCs contribute 15% of the total revenue of the company. Sarda said the company's revenue was growing consistently at a healthy double-digit rate and would continue to do so.
The other leading players in this space include Awfis, Wework India and Indiqube.
Smartworks has grown 48% since its listing in July this year, and the scrip is hovering around Rs 603-604, translating into a valuation of Rs 6,900-7,000 crore for the company.
According to Sarda, one of India's leading credit rating agencies, CareEdge Ratings, upgraded SCSL's rating to ‘A; Stable' from ‘BBB+; Positive' — a two-notch credit upgrade. Sarda added that SCSL had achieved a new milestone with the licence of over 815,000 sq ft at Eastbridge, Mumbai — a marquee commercial development.
"Eastbridge is the world's largest managed office campus and the biggest leased globally by a managed workspace provider, underscoring Smartworks' category leadership.
Smartworks continues to beat its own leasing record and today boasts 6 office campuses pan-India with an area of over 500,000 square feet each," Sarda said. According to him, total managed space of the company now stands at 1.2 crore square feet.
Commenting on Kolkata operations, he added that SCSL took 110,000 square feet in Sector V 4-5 months ago and is managing 350,000 square feet in the city.
Smartworks posted a revenue of Rs 424 crore in the second quarter, a 21% year-on-year growth.