Large Enterprise Deal Boosts Pune’s Premium Office Market

The leased office spans Smartworks’ Marisoft campus, a strategic commercial cluster in Kalyani Nagar that offers strong connectivity, robust social infrastructure, and access to a deep talent pool.

The integrated workspace includes collaboration zones, meeting rooms, recreational areas, convenience retail, wellness amenities, and fully tech-enabled infrastructure—core to Smartworks’ campus-led managed office model, which has been powering its enterprise expansion.

Enterprise Demand Driving Growth

“Our large-format campuses are built for scale, speed, and unified workplace experiences,” said Neetish Sarda, Founder & Managing Director, Smartworks.
He noted that the 1,000+ seat cohort, which accounted for only 12% of rental revenue three years ago, has now tripled to 35%, underscoring the company’s rising share of large enterprise clients.

Smartworks’ model allows businesses to expand across multiple cities, grow within existing clusters, or consolidate fragmented offices into larger, unified campuses—an increasingly preferred approach for GCCs and multinationals.

Financial Performance Reflects Robust Momentum

Earlier this month, Smartworks reported strong Q2 FY26 results, including:

• 21% YoY growth in revenue to ₹4,248 million
• 46% YoY rise in normalised EBITDA
• Healthy EBITDA margin of 16.4%
• Net-debt negative position
• Operating cash flow of ₹614 million

These numbers reflect Smartworks’ disciplined expansion strategy, improving operational efficiency, and the growing acceptance of its managed campus format across India’s prime office markets.

Smartworks’ Pan-India Footprint

With a ~12.7 million sq ft portfolio across 14 cities, Smartworks caters to a diversified client mix including GCCs, Forbes 2000 companies, multinationals, and large Indian enterprises.
The company notes that 30% of its rental revenue now comes from clients operating across multiple locations—evidence of its growing relevance in nationwide enterprise workspace strategies.

Analysis — Large Enterprise Leasing Continues to Power Managed Office Growth

The Smartworks–Wolters Kluwer deal reflects the continued shift towards flexible, scalable, experience-led campuses among global and domestic enterprises. Pune, particularly the Kalyani Nagar–Yerwada belt, remains a hotspot for GCCs and tech-driven companies, making the lease a timely expansion move.

Smartworks’ strong quarterly performance and rising share of large-format deals also indicate:

• GCC consolidation trends are accelerating
• Enterprises prefer managed campuses over fragmented traditional offices
• Pune’s office market continues to attract high-quality occupiers

With demand for flexible yet controlled work environments growing, Smartworks is well-positioned to capture a larger share of India’s evolving office landscape.

Also Read: Corporate Biggest User Of Coworking Spaces.

The post 🏢 Smartworks Leases 1.66 Lakh Sq Ft to Wolters Kluwer in Pune’s Kalyani Nagar, Strengthens Enterprise-Focused Growth appeared first on Square Feat India.

Mumbai, November 11, 2025:
Awfis Space Solutions Limited, one of India’s leading flexible workspace providers, reported a 44% year-on-year rise in operating EBITDA for the first half of FY26, driven by expanding demand from enterprises and GCCs.

Operating revenue for H1 FY26 stood at ₹702 crore, up 28% YoY, while PAT rose 49% to ₹26 crore (excluding exceptional items). The company achieved an EBITDA margin of 36.9%, a gain of 430 basis points over the previous year.

In Q2 FY26, Awfis posted ₹367 crore in operating revenue and ₹16 crore in PAT, reflecting consistent growth momentum through the quarter.

Expanding Portfolio and Enterprise Focus

As of September 30, 2025, Awfis managed 247 centers with 1.7 lakh seats across 8.4 million sq. ft., including spaces under fit-out and signed LOIs.

The company added 14,000 new seats in H1 FY26 and 8,000 seats in Q2, marking a year-over-year increase of 35,000 seats. Notably, 100% of new supply was in Grade A assets, with 70% in Grade A+ developments.

Awfis currently operates 26 premium centers — including 21 Gold and 5 Elite centers — catering to large corporates, GCCs, and enterprise clients. During H1 FY26, the company secured 5,000 seats from over nine large corporates and MNCs, with 10 GCCs signing up across its Elite centers.

Strategic Shift Toward Premium, Enterprise-Grade Workspaces

Commenting on the results, Amit Ramani, Chairman and Managing Director, Awfis Space Solutions Limited, said:

“Our operating performance underscores the strength of our execution and the maturity of our enterprise client base. The growing contribution from the 500+ seat cohort, now forming 34% of our portfolio, reflects the stability and stickiness of our large clients.”

He added that Awfis is now moving up the value curve — focusing on premium Grade A buildings and enterprise-driven locations, while continuing expansion in Tier 2 cities where supply grew 28% YoY.

Awfis Transform to Drive Next Growth Phase

Awfis also announced the subsidiarization of Awfis Transform, its design and build vertical, which will now operate as a wholly owned subsidiary. The move aims to provide greater operational flexibility, enabling the unit to pursue opportunities in new sectors such as retail, hospitality, and commercial interiors.

This restructuring is expected to enhance transparency in performance metrics and accelerate diversified growth for the group.

Outlook

With an integrated ecosystem covering flexible workspace operations, allied services, and design-build expertise, Awfis is positioning itself for sustained, profitable growth. The company’s strategy combines premium execution in top metros with measured expansion in emerging markets, aligning with evolving enterprise workspace preferences.

Also Read: Awfis expands its footprint in Kolkata

The post Awfis H1 FY26 Operating EBITDA Jumps 44% YoY; Revenue Up 28% Amid Strong Enterprise Demand appeared first on Square Feat India.

This significant debt reduction not only improves the Group’s overall balance sheet but also enables it to bring down the pledge on its WeWork India shares to a minimal 15%, reflecting WeWork India’s position as a strategic and valuable asset in Embassy Group’s portfolio.

In a continued effort to strengthen its financial foundation, the Group has also fully repaid ₹1,600 crore of debt owed to Samaan Capital over the years, further consolidating its position as a financially sound and growth-focused enterprise.

WeWork India: A Strategic Asset

WeWork India, known for its robust operational performance and scalable business model, stands as the nation’s leading provider of flexible workspaces. The company’s successful public listing recently has been widely viewed as a strong endorsement of Embassy Group’s strategic vision to build and nurture market-leading businesses that create long-term value for shareholders and stakeholders alike.

Chairman’s Perspective

Commenting on the latest financial developments, Jitendra Virwani, Chairman of Embassy Group, said:
“WeWork India IPO marks an important milestone in our ongoing efforts to strengthen our balance sheet. The debt reduction not only reinforces our financial stability but also underscores our continued commitment to maintaining a robust and sustainable financial framework.”

This strategic debt repayment and share pledge reduction reflect Embassy Group’s focus on sustainable growth and enhanced shareholder value, positioning the company well for future opportunities in the real estate and commercial workspace sectors.

Also Read: Rubrik Secures 207,000 Sq. Ft. Office Space at Embassy TechVillage, Bengaluru

The post Embassy Group Repays ₹1,748 Crore Debt, Strengthens Financial Position appeared first on Square Feat India.

Meeting Rooms Designed for Every Business Need

Table Space’s offering includes spaces of all sizes – from 4-seater rooms for small team huddles to executive boardrooms and 50-seater training halls.

Each space is:

• Fully equipped with modern amenities
• Backed by Table Space’s hospitality support
• Designed to ensure clients can focus on business while operations, logistics, and guest experience are seamlessly managed

Table Space App: The Digital Workplace Hub

The Table Space App already serves as the single digital interface for enterprise clients, integrating:

• Service requests with live tracking for IT, housekeeping, and pantry
• Visitor management
• Emergency SOS for instant access to support teams

With the new Meeting Rooms module, the app is now open to a wider audience, including non-partner enterprises. Users can:

• Book instantly with real-time availability and transparent pricing
• Preview amenities and images before booking
• Ensure seamless check-in with integrated visitor management
• Enjoy hospitality touchpoints including on-ground support and complimentary beverages

Leadership Speak

Karan Chopra, Chairman & Co-CEO of Table Space, said:

“At Table Space, technology is embedded into every part of the workplace journey. The launch of Meeting Rooms as a Product takes us a step further in making premium, enterprise-grade workspaces available to all enterprises, so any business can host high-stakes meetings with ease and confidence.”

He added that these meeting spaces are designed to support critical decision-making and client presentations, with dedicated hospitality ensuring businesses can focus solely on their priorities.

Tech-First + Hospitality-Led Model

The launch builds on Table Space’s existing tech-enabled innovations, including:

• AI-led workspace planning
• IoT-enabled access systems
• Data-driven occupancy management
• App-first service delivery

By integrating hospitality and technology, Table Space positions itself as a partner in seamless workplace experiences.

About Table Space

• Total leasable area: Over 9.9 million sq. ft. (as of March 31, 2025)
• Presence: 7 cities across India
• Focus: Fully managed, customised workspaces for global enterprises

The addition of Meeting Rooms as a Product extends this service ecosystem to businesses of every size, including those not currently associated with Table Space.

Also Read: Now Make A Reservation At A Restaurant, For Co-Work Table.

The post Table Space Expands Tech-Enabled Offerings with Launch of On-Demand Meeting Rooms on Workspace App appeared first on Square Feat India.

Unprecedented Growth in Flexible Workspaces

Flexible workspaces, which include business centers, co-working spaces, and managed offices, now account for 14% of India’s total office leasing activity (89 MSF). Bengaluru led the market with 3.4 MSF of leasing volume, almost doubling its 2023 figures. Meanwhile, Mumbai recorded a 3x YoY increase, reaching 1.9 MSF, underscoring the growing appeal of flexible workspaces in India’s financial capital. Delhi NCR, Hyderabad, and Pune also emerged as key hubs, with leasing volumes of 2.3 MSF, 1.6 MSF, and 1.6 MSF, respectively.

Corporate Demand Fuels Surge in Flex Seat Leasing

In addition to office space leasing by operators, companies leased approximately 2.2 lakh seats from flexible workspace operators in 2024, a 44% jump from 2023’s 1.56 lakh seats. Bengaluru led the segment, accounting for 29% (~64,000 seats) of total flex seat leasing, followed by Pune (39,000 seats), Delhi NCR (38,000 seats), and Mumbai (28,000 seats).

The IT-BPM sector dominated flex seat leasing with a 48% share, followed by engineering and manufacturing (17%), BFSI (10%), and professional services (6%), indicating a diverse occupier mix across industries.

Key Drivers Behind the Demand

The significant growth in the flexible workspace sector can be attributed to:

• Evolving Business Needs: Companies are prioritizing operational flexibility and cost efficiency amid changing work dynamics.
• Hybrid Work Models: A shift toward hybrid setups has increased the need for managed office solutions.
• Expansion of Global Capability Centers (GCCs): New entrants and expanding companies are driving demand for premium flexible office spaces.
• Core+Flex Strategy Adoption: Large enterprises are increasingly combining traditional offices with managed workspaces to optimize costs and operations.

Industry Experts Weigh In

Commenting on the sector’s rapid expansion, Ramita Arora, Managing Director – Bengaluru & Head – Flex, India, Cushman & Wakefield, said:

“With new companies entering India and existing firms prioritizing flexibility and cost-effective solutions, the demand for managed office spaces continues to surge. Flexible workspaces now account for 14% of India’s total office leasing, firmly establishing them as a mainstream real estate solution.”

She further noted that Grade A and A+ assets will continue to see strong demand from leading managed space operators, with enterprises prioritizing best-in-class amenities, sustainability, and technology integration.

Outlook for 2025 and Beyond

The flexible workspace sector is expected to maintain strong growth in 2025, with global enterprises expanding their Core+Flex strategies. As demand for premium managed spaces rises, operators are focusing on customization, end-to-end services, and sustainability-driven solutions to cater to evolving corporate needs.

With a record-breaking 2024 and strong momentum heading into 2025, India’s flexible workspace sector is set to play a crucial role in shaping the future of office real estate.

Also Read: ANAROCK Acquires Flexible Workspaces Platform myHQ

The post India’s Flexible Workspace Sector Hits Record 12.4 Million Sq. Ft. Leasing in 2024 appeared first on Square Feat India.

Since its establishment in 2018, Urban Vault has grown its portfolio to over 2 million square feet, accommodating more than 30,000 desks in the city. The newly leased spaces are located in key office buildings, including HM Square (formerly HM Icon) on Residency Road, Prestige Obelisk on Kasturba Road, and Pardhanani Wilshiren at MG Road.

Founder Amal Mishra highlighted the strong demand for managed office space in the CBD, stating, “We are expanding our facilities to cater to medium and large enterprises seeking premium workspace.” With this addition, Urban Vault now offers a total of 1.5 lakh square feet of space in the CBD.

Mishra noted that multinational companies are increasingly establishing Global Capability Centres (GCCs) across major Indian cities. “Bengaluru has a competitive edge due to its affordable real estate and skilled talent, making it an attractive destination for corporates,” he said.

The shift towards flexible workspace has become integral to corporate real estate strategies, with companies embracing managed office solutions for their flexibility and cost-saving benefits. “Corporates can avoid the burden of managing physical infrastructure and housekeeping,” Mishra explained.

Urban Vault operates on a rental basis and through revenue-sharing models, offering desks priced between INR 8,000 and 10,000 per month. The company plans to expand to Gurgaon in the next quarter, with further growth in Pune and Mumbai.

For the fiscal year 2023-24, Urban Vault reported a turnover exceeding ₹100 crore, achieving an 18% profit after tax (PAT) and maintaining a high occupancy rate of 91% across its operational centers.

Also Read: Flex Spaces to Play Major Role in Office Expansion, Survey Reveals

The post Urban Vault Expands Office Space in Bengaluru’s CBD to Meet Rising Demand appeared first on Square Feat India.