Smartworks Coworking Spaces Limited ("Smartworks" or "the Company") announced its proposed acquisition of Workstudio Spaces Pte. Ltd. ("Workstudio"), a Singapore-based flexible workspace provider, through its wholly owned subsidiary Smartworks Space Pte. Ltd ("Subsidiary").
The transaction is expected to be completed in July 2026, subject to requisite approval(s). The acquisition will be funded through funds available with the Subsidiary, reflecting a disciplined approach to executing strategically aligned transactions at competitive valuation.
Workstudio currently has an operational footprint of approximately 26,000 sq. ft. with healthy committed occupancy levels. Upon completion, Smartworks' Singapore portfolio will expand to four centres with total footprint increasing to approximately 76,000 sq. ft. and total seating capacity exceeding 1,500. This represents more than doubling of the Company's presence in Singapore over the last two years.
Neetish Sarda, Founder and Managing Director of Smartworks, commented that Singapore remains a strategically important market supported by strong enterprise demand, clear flight to quality, and structurally healthy operating margins. He noted that existing centres in Singapore have been profitable over the past two years, and the Workstudio acquisition complements their existing presence by providing access to a high-demand micro-market, diversifying the Singapore portfolio, and broadening the enterprise client base.
The acquisition is expected to broaden Smartworks' enterprise relationships in Singapore, diversify presence across key business districts, and strengthen the ability to deliver consistent, enterprise-grade managed workspace experience across the market.
As of March 31, 2026, Smartworks has a total footprint of approximately 16.1 million sq. ft. across 66 centres in 15 cities in India and Singapore. The Company partners with developers to transform large commercial assets into fully managed enterprise campuses, serving 770+ clients including Fortune 500s, Forbes 2000 names, GCCs, MNCs, and high-growth Indian businesses.
The disclosure was made to National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) through a formal communication signed by Punam Dargar, Company Secretary & Compliance Officer (Mem. No.: A56987). The press release is also available on the company's website at https://www.smartworksoffice.com/investors/.