Smartworks Coworking Spaces Completes Capacity Addition Following Singapore Acquisition
Smartworks Coworking Spaces Limited has announced the completion of its capacity addition, following the acquisition of WorkStudio Spaces Pte. Ltd. by Smartworks Space Pte. Ltd., a wholly-owned subsidiary of the company. The completed expansion contributes to strengthening Smartworks' operational footprint in the key international business hub of Singapore.The capacity increase was finalized on July 06, 2026. This strategic move involves adding approximately 26,000 Sq Ft through the acquisition of WorkStudio Spaces Pte. Ltd. by the subsidiary. Since this expansion was conducted through an acquisition by the wholly-owned entity, no investment or mode of financing was required from the Company itself.
The addition aims to enhance Smartworks' market presence in Singapore. The company notes that its portfolio in the region will grow to four centers with approximately 76,000 sq. ft., which represents more than double the footprint recorded over the past two years. This expansion is intended to improve service capabilities for enterprise clients and support long-term growth across Asia.
Capacity Details Post-Acquisition
The completion of the capacity addition updates the company's operational metrics. Existing capacities and the proposed additions are detailed below:| Metric | Detail |
|---|---|
| Existing Leased Capacity | 13.7 Million Sq. Ft. |
| Existing Operational Capacity | 10.1 Million Sq. Ft. |
| Operational Utilization Rate | 82% (of Operational Capacity) |
| Proposed Capacity Addition | ~26,000 Sq Ft. through the subsidiary(ies). |
| Capacity Completion Date | July 06, 2026. |
SMARTWORKS Stock Price Movement
Smartworks Coworking Spaces Limited saw its shares edged higher by 0.31% on Monday, settling at ₹473.05. The stock traded within a range of ₹470.1 to ₹480 during the session, with 40,243 shares changing hands.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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