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Business News/ Companies / News/  Smartworks leases 2,000 seats to Xoriant in Mumbai, Pune
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Smartworks leases 2,000 seats to Xoriant in Mumbai, Pune

Flex spaces provide companies with flexibility of space as well as lease terms which allows them to remain agile while creating their real estate strategies. They also provide great advantage in keeping capital as well as operating expenses for companies at desired levels

Flexible office spaces have given a lucrative alternative to individuals as well as companies for their office space requirements, especially during the pandemicPremium
Flexible office spaces have given a lucrative alternative to individuals as well as companies for their office space requirements, especially during the pandemic

BENGALURU: Flexible office space provider Smartworks said it has leased about 90,000 sq ft in Mumbai and Pune to Xoriant, a product engineering, software development, and technology services firm headquartered in the Silicon Valley in California.

Property advisory Knight Frank facilitated the deal which comprises over 2,000 seats.

"As companies continue to calibrate their work and workplace strategies, they are choosing flex space for tech-enabled work environment, flexibility, space optimization and cost-savings. We are witnessing strong demand from clients for multi-city expansion, not only in Tier 1 but also in Tier 2 cities, as our spaces provide them with the agility to meet their business requirements," said Neetish Sarda, founder, Smartworks.

Narayanan Duraiswami, SVP, operations and IT, Xoriant, said, "We wanted to ensure a modern, tech-enabled, flexible workspace with a convenient commute to meet the demands of our exponentially growing workforce. As a winner of multiple Great Place to Work awards, Xoriant continues its employee-first culture with state-of-the-art offices for high productivity, satisfaction, and happiness indices. With Smartworks, we are able to augment our existing offices while maintaining the vibrant and digital-first office, hassle-free and touchless experience across all our locations in India."

“Flexible office spaces have given a lucrative alternative to individuals as well as companies for their office space requirements, especially during the pandemic. Flex spaces provide companies with flexibility of space as well as lease terms which allows them to remain agile while creating their real estate strategies. Further, flex spaces also provide great advantage in keeping the capital expenses as well as operating expenses for companies at desired levels," said Viral Desai, executive director, transactions, Knight Frank.

In the July-September quarter, Knight Frank said, nearly 23,500 seat deals took place across the top eight cities, and expects this trend to remain buoyant.

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ABOUT THE AUTHOR
Madhurima Nandy
I am a part of the long story team at Mint, and write on real estate, infrastructure, e-commerce, urban issues among others. I have over 20 years of experience as a journalist. As a long-story writer, I tell stories behind the news to capture the larger picture through an analytical lens, with authenticity.
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Published: 09 Nov 2021, 02:32 PM IST
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