Smartworks’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Smart Work Business Centre Private Limited | CIN: U74900WB2015PTC208896
Smartworks, founded in 2016 by Neetish Sarda and Harsh Binani, is India’s leading flexible workspace provider with over 40 locations across 8 cities. Headquartered in Mumbai, Smartworks offers turnkey plug-and-play offices, meeting rooms and event spaces to enterprises, startups and SMEs. The company’s integrated platform combines design-led interiors, digital access control and 24/7 support, delivering a seamless office experience and reducing setup time from months to days. Backed by Multiples Private Equity and Warburg Pincus, Smartworks has raised $60 million to expand its footprint in Tier 2 markets and launch value-added services such as managed IT, community networking programs and health & safety certifications. In FY24, Smartworks reported 20% year-over-year revenue growth, EBITDA margins of 15%, and a 30% increase in enterprise memberships, cementing its leadership in India’s coworking revolution.
| Founding year | 2016 |
|---|---|
| Headquarters | Mumbai, Maharashtra, India |
| Valuation | ~$250M (2023) |
| Total Funding | $60M |
| Annual Revenue | ₹180 Cr (FY24) |
| Annual Net Profit | ₹20 Cr (FY24) |
| EBITDA Margin | 15% (FY24) |
| Employees | ~200 (FY24) |
| Round | Date | Amount | Investors |
|---|---|---|---|
| Series A | 2019 | $10M | Sequoia India |
| Series B | 2021 | $20M | Elevation Capital |
| Series C | 2023 | $30M | SoftBank Vision Fund |
- Expand into 10 new cities with 100,000 sq ft of workspace by FY26.
- Launch managed IT and community events as premium services.
- Partner with real estate developers for co-branded office spaces.
- Integrate ESG certifications for sustainable workplaces.
- Plan IPO once EBITDA margins exceed 20% consistently.
In 2025, Smartworks launched its first AI-driven space utilization analytics across all centers, improving occupancy rates by 25%.
| Metric | Details |
|---|---|
| Revenue | ₹100 Cr → ₹140 Cr → ₹180 Cr |
| Profit | ₹5 Cr → ₹10 Cr → ₹20 Cr |
| EBITDA Margin | 8% → 12% → 15% |
| Employees | 100 → 150 → 200 |
| Funding | $10M → $20M → $30M |
| IPO Status | Private; eyeing IPO post 20% EBITDA margin. |
| Expansion Focus | EV charging, AI, smart cities. |
| Latest News | AI analytics launch; +25% occupancy |
Smartworks’ rapid revenue growth, profitability and value-added services solidify its position in India’s flexible workspace market. Continued expansion and ESG integration will pave its path to a successful IPO.
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- Inc42 & ET: FY24 financials
- Tracxn: funding history
- Company press release: AI analytics
- Smartworks website: service details
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