Smartworks leases 300 seats to Teva Pharma in suburban Mumbai
Smartworks, India’s top managed and flex space provider, announced today the leasing of roughly 90,000 square feet to Xoriant, a product engineering, software development, and technology services organisation with offices in six locations across India.The acquisition, which includes 2000+ seats across Mumbai and Pune, was enabled by Knight Frank, a renowned international property consultant with expansion plans in many other cities.”As firms continue to optimise their work and workplace strategies, they are choosing flex space for tech-enabled work environments, flexibility, space efficiency, and cost-savings,” stated Neetish Sarda, Founder of Smartworks. Clients are requesting multi-city expansion not only in Tier 1 but also in Tier 2 locations, because our spaces give them the flexibility they need to satisfy their business needs.”
The expanded space spanning Tier 1 and Tier 2 cities is in line with Xoriant’s aggressive expansion ambitions, which began with a lease with Smartworks in Chennai last year.”We wanted to ensure a modern, tech-enabled, flexible office with a pleasant commute to fulfil the expectations of our constantly growing team,” said Mr. Narayanan Duraiswami, SVP Operations and IT, Xoriant. Xoriant continues its employee-first culture with state-of-the-art offices for high productivity, contentment, and happiness indices as a repeated Great Place to Work award winner. We can expand our existing offices with Smartworks while retaining a lively and digital-first office, a hassle-free and touchless experience across all of our locations in India, and allowing our employees to take advantage of the Xoriant mark’s perks.
“Flexible office spaces have provided a lucrative alternative to individuals and businesses seeking office space, particularly during the epidemic. Flex spaces give businesses the freedom to choose their own space and lease terms, allowing them to be flexible as they plan their real estate initiatives. Furthermore, flex spaces benefit businesses by allowing them to keep their capital and operating expenses at targeted levels. We saw a strong co-working market momentum in Q3 2021, with nearly 23,500 seat deals taking place across the top 8 cities in the country; and we expect this trend to continue in the future, especially in the post-pandemic era, where flexibility in operations will be a key element of success,” said Viral Desai, Executive Director, Knight Frank Transactions.
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