Smartworks Coworking Spaces Limited has expanded its multi-city managed office deal with a Forbes 2000 company, a global leader in digital business services and customer experience management. The expansion includes the addition of 1,150 seats at Smartworks’ managed campus at Tata Intellion Park, Navi Mumbai, bringing the client’s total portfolio with Smartworks to over 5,000 seats across Bengaluru, Kolkata, Hyderabad, and Mumbai.
The expected rental revenue from these locations is estimated to exceed ₹155 crore, including the newly signed Mumbai managed office deal valued at ₹51 crore. Neetish Sarda, Founder and Managing Director of Smartworks, highlighted the importance of consistency, speed of execution, and scalability within a single ecosystem as enterprises expand across regions. He noted that the expansion across four cities underscores the strength of the platform and the long-term relationships with global clients.
The deal emphasises the growing preference among large enterprises for campus-style, multi-city workspace partnerships. Smartworks is experiencing strong momentum from large-format deployments and enterprise expansion mandates. Large-format deployments, with clients occupying over 1,000 seats, contribute approximately 35% of revenue, driven by enterprise and GCC demand. Multi-city clients accounted for about 31% of the company’s overall revenue in Q3 FY26, showcasing Smartworks’ capability to serve enterprises across geographies.
As of Q3 FY26, Smartworks reported over ₹4,700 crore in committed rental revenue, reinforcing the enterprise-led nature of its business. The company leases large commercial buildings and converts them into managed office campuses tailored for enterprise use, managing design, delivery, technology, and daily operations to allow occupiers to scale efficiently without owning or managing real estate.
Smartworks is India’s largest managed office platform by total area under management, with a footprint of approximately 15.3 million square feet across 63 centres in 15 cities in India and Singapore. The company serves mid-to-large enterprises and boasts over 770 clients, including Forbes 2000 companies, GCCs, MNCs, and high-growth startups.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by Aman Shukla before publication.