Smartworks Expands Pune Footprint, Lakshmi Electrical Eyes EV Market
By ThePip Desk
Smartworks invests Rs 25 crore to boost coworking space in Pune by July 2026, while Lakshmi Electrical forms a new subsidiary for EV charging solutions.
🔥 Main Takeaway
Coworking giant Smartworks is pouring Rs 25 crore into a massive Pune expansion, while Lakshmi Electrical is strategically setting up a new subsidiary to tap into India’s booming EV charging market.
📌 What Happened?
Smartworks Coworking Spaces just added 1,63,942 square feet to its Pune capacity, backed by a Rs 25 crore investment.
This significant expansion, funded through internal accruals and issue proceeds, is slated for completion by July 2026.
Separately, Lakshmi Electrical Control Systems received approval to incorporate a new subsidiary company.
This new entity is specifically designed for manufacturing Electric Vehicle (EV) Chargers and establishing EV Public Charging Stations.
The subsidiary forms part of a consortium arrangement with BIEMSYS, serving as a pre-commitment for a tender from the New & Renewable Energy Development Corporation of Andhra Pradesh.
💰 Why It Matters
Smartworks’ substantial investment signals robust demand for flexible managed workspace solutions in key Indian cities, reflecting a major trend in post-pandemic office real estate.
For Lakshmi Electrical, diving into EV charging infrastructure positions it directly within one of India’s fastest-growing sectors, promising new revenue streams and market diversification.
Both moves highlight companies actively investing in high-growth areas, indicating strong underlying market confidence and strategic foresight.
👀 What to Watch Next
Monitor Smartworks’ progress towards its July 2026 completion date and observe future occupancy rates, which will indicate the success of this capacity boost.
Keep an eye on the outcome of Lakshmi Electrical’s tender application with the New & Renewable Energy Development Corporation of Andhra Pradesh, as its success is key for the subsidiary’s operational launch.
The broader competition and policy landscape in India’s rapidly evolving EV charging market will also be crucial for Lakshmi Electrical’s long-term play.