Smartworks Coworking Spaces Limited has strengthened its international presence by acquiring WorkStudio Spaces Pte. Ltd., a Singapore-based flexible workspace provider, for a cash consideration of SGD 2.47 million. Through this strategic acquisition, the company aims to expand its footprint in Southeast Asia while reinforcing its position in the global flexible workspace and managed office solutions market.
The company completed the acquisition through Smartworks Space Pte. Ltd., its wholly owned subsidiary. Consequently, WorkStudio has become a step-down wholly owned subsidiary of Smartworks. This move aligns with the company’s long-term strategy to accelerate international expansion and enhance its portfolio of premium coworking spaces.
WorkStudio, which was incorporated in Singapore on November 20, 2024, generated a turnover of ₹5.09 crore from its inception until March 31, 2026. The acquisition enables Smartworks to immediately strengthen its operational capabilities in Singapore while expanding its client base across multiple industry sectors.
Moreover, the acquisition increases Smartworks’ Singapore portfolio to four operational centres with a combined footprint of nearly 76,000 square feet and a seating capacity exceeding 1,500. Additionally, the company has added more than 45 clients to its Singapore operations, further diversifying its customer portfolio and strengthening its presence in one of Asia’s leading commercial hubs.
Smartworks also disclosed that the acquisition qualifies as a related party transaction because an immediate relative of one of the company’s directors holds an interest in the holding company of WorkStudio. However, the company clarified that it executed the transaction on an arm’s-length basis, ensuring compliance with corporate governance standards and regulatory requirements.
Meanwhile, Smartworks continues to maintain strong operational performance across its existing business. As of March 31, 2026, the company reported an operational capacity utilisation of 82%. It currently manages a leased capacity of approximately 13.7 million square feet and an operational capacity of 10.1 million square feet across 66 centres in 15 cities, highlighting its leadership in India’s managed office space sector.
Despite the expansion announcement, Smartworks’ stock ended the trading session on the National Stock Exchange (NSE) at ₹465.75, reflecting a decline of 1.54% from the previous closing price of ₹473.05. The stock remains below its 52-week high of ₹619. Notably, Smartworks made its stock market debut on July 17, 2025.
Smartworks has taken another significant step in its global expansion strategy by acquiring WorkStudio Spaces in Singapore. Besides expanding its operational footprint and customer base, the acquisition strengthens the company’s presence in one of Asia’s fastest-growing flexible workspace markets. With strong occupancy levels, a growing international portfolio, and continued investments in strategic markets, Smartworks is positioning itself for long-term growth in the evolving coworking and managed office industry.
