India's Leap Towards Sustainable & Innovative Workspace Design
- Industry News
- March 13, 2024

Smartworks has leased ~1.66 lakh sq ft to Wolters Kluwer at its Marisoft campus in Pune’s Kalyani Nagar micro-market, strengthening its large-format, campus-led strategy. The deal comes on the back of a strong Q2 FY26, where Smartworks reported 21% YoY revenue growth, rising enterprise cohorts, and a net-debt negative balance sheet.
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Jefferies has initiated coverage on WeWork India with a Buy rating and a base target of ₹790, implying 28% upside and up to 45% in the bull case. The brokerage cites strong flex demand, rising seat additions, expanding margins and premium pricing, reinforcing WeWork India’s leadership in the country’s fast-growing flexible workspace market.
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Colliers says India’s Grade A demand may reach ~70 million sq ft in 2025, with around 60 million sq ft of new supply. Occupiers are prioritising quality, hybrid work, sustainability, and inclusivity. “Over 80%” of the upcoming Grade A supply is green-certified, while flex could “drive nearly 20%” of demand, reshaping workplace strategy.
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Industries Minister P. Rajeeve visited ‘i by Infopark’ at Ernakulam South Metro, praising its “world-class facilities.” The 48,000 sq ft, seven-floor site offers 580+ workstations, direct station entry, and Kerala’s first neurodiversity-friendly coworking design. With Zoho leasing an entire floor, the project targets freelancers, startups, MNCs, and GCCs, with statewide expansion planned.
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OpenAI has leased a 50-seater office in New Delhi with CorporatEdge, prioritising the capital over Noida and Gurugram. The move follows the rapid adoption of ChatGPT in India, with plans for a local team and the introduction of a ₹399/month ChatGPT Go plan. Industry watchers expect AI firms to accelerate CRE absorption, particularly in managed workspaces.
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Kalpataru Group sold six built-to-suit floors in Kalpataru Virtus, Vikhroli, to Bernhard Schulte Shipmanagement for ₹304.05 crore. The 93,226 sq ft RERA-carpet transaction spans floors 15–20 on JVLR, registered November 4, 2025. Completion is slated for December 2027 with possession in December 2028. BSM cites India’s strategic role and flexible workspace needs.
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