Smartworks adds Rs 235 crore in revenue from enterprise expansion

Smartworks Coworking Spaces is adding Rs 235 crore in rental revenue through expansion mandates from existing enterprise clients. This highlights the growing preference among large corporations for scalable and fully managed workplace solutions in India.

Smartworks Coworking Spaces Ltd is expected to benefit from continued enterprise demand for flexible and fully managed workspaces, with the company adding around Rs 235 crore in incremental contracted rental revenue through expansion mandates from existing clients, including Fortune 500 and Forbes 2000 companies.

The new contracts, with tenures of up to 60 months, build on Smartworks' contracted rental revenue base of around Rs 5,400 crore as of June 30, 2026. The expansion underscores the growing preference among large enterprises for scalable workplace solutions as India strengthens its position as a strategic execution hub for global businesses.

Enterprise Preference for Scaled Operators

Smartworks said enterprises are increasingly consolidating their workplace requirements with scaled operators that can provide consistent infrastructure, service standards and operational efficiency across multiple locations.

The company said several of the clients driving the expansion are developing advanced technology and artificial intelligence capabilities from their India centres. The new mandates include a global engineering and technology services company that is a subsidiary of a Fortune India 500 company, the India IT services arm of a Forbes 2000 company and a Fortune 500 global infrastructure consulting firm, among others.

Validation of Managed-Office Model

Smartworks Founder and Managing Director Neetish Sarda said the decision by existing clients to expand within its campuses validates the company's managed-office model. He said large organisations increasingly seek prime locations, quality infrastructure, employee-focused amenities and the ability to scale without the disruption associated with relocating or refitting offices.

Strong Enterprise Client Base

Enterprise clients account for around 92% of Smartworks' revenue, while approximately 35% comes from multi-city clients, highlighting the company's growing role as a workspace and infrastructure partner for businesses operating across geographies.

Future Expansion and Secured Pipeline

The company has also secured its expansion pipeline in prime locations for FY27 and FY28, and partially for FY29, with capacity locked ahead of anticipated demand.

Comprehensive Campus Amenities

As of June 30, 2026, Smartworks had a secured footprint of around 16.9 million square feet across 70 centres in 15 cities in India and Singapore. Its campuses include amenities such as cafeterias, gyms, recreation zones, crèches and round-the-clock support, strengthening its proposition as enterprises look for integrated workplace ecosystems. (ANI)

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