Managed office space provider Smartworks Coworking Spaces Limited has announced the acquisition of Singapore-based flexible workspace company Workstudio Spaces Pte. Ltd., marking another significant step in its international expansion strategy. The transaction, expected to be completed in July 2026 subject to regulatory approvals, will strengthen Smartworks’ presence in one of Asia’s leading commercial hubs.
The acquisition will be carried out through Smartworks’ wholly owned subsidiary, Smartworks Space Pte. Ltd. Workstudio currently operates approximately 26,000 square feet of flexible office space in Singapore and maintains healthy committed occupancy levels. According to the company, the acquisition will be funded through available resources within the subsidiary, reflecting its disciplined approach to strategic investments.
Upon completion of the transaction, Smartworks will expand its Singapore portfolio from its existing operations to four managed workspace centres. The company’s total footprint in the city-state is expected to increase to nearly 76,000 square feet, with seating capacity exceeding 1,500. This expansion will more than double Smartworks’ presence in Singapore over the past two years.
The company said Singapore remains a strategically important market due to strong demand from enterprises, premium office requirements, and healthy operating margins. Its existing centres in the country have remained profitable over the last two years, providing confidence for further expansion.
The acquisition of Workstudio will also diversify Smartworks’ presence across key business districts in Singapore while strengthening relationships with enterprise clients. The company expects the move to enhance its ability to deliver managed office solutions to multinational corporations, global capability centres (GCCs), and high-growth businesses operating in the region.
Earlier this month, Smartworks announced another major business milestone by leasing more than 400 seats at its Mumbai centre to the Indian subsidiary of a Japanese non-banking financial company (NBFC). The five-year agreement is expected to generate rental revenue of approximately ₹35 crore, reflecting continued demand for flexible office solutions from global enterprises.
As of March 31, 2026, Smartworks operated a portfolio of 16.1 million square feet spread across 66 centres in 15 cities in India and Singapore. The company partners with commercial real estate developers to transform large office assets into fully managed enterprise campuses equipped with workspace design, technology infrastructure, hospitality services, and integrated workplace management solutions.
Financially, the company delivered a strong turnaround during the 2025-26 fiscal year. Smartworks reported a net profit of ₹10.52 crore compared with a net loss of ₹63.17 crore in the previous financial year. Its total income also rose significantly to ₹1,849.9 crore from ₹1,409.66 crore a year earlier, highlighting sustained business growth and improved operational performance.
The proposed acquisition of Workstudio reinforces Smartworks’ strategy of expanding beyond India while strengthening its position in the rapidly growing flexible workspace market across Asia. By increasing its international footprint and enterprise client base, the company aims to capitalise on rising demand for premium managed office spaces among multinational businesses operating in key global financial centres.
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