Smartworks Coworking Spaces Limited announced the addition of approximately INR 235 crore in incremental contracted rental revenue through expansion mandates from existing enterprise clients. This revenue addition builds on the Company's existing contracted rental revenue base of approximately INR 5,400 crore as disclosed on June 30, 2026.
The expansion mandates include Fortune 500 companies, Forbes 2000 companies, and large Indian conglomerates. The contracted rental revenue reflects engagement tenures of up to 60 months across multiple cities.
Client Details
The expansion clients include:
- A global leader in engineering and technology services (subsidiary of a Fortune India 500 company)
- The India IT services arm of a Forbes 2000 company
- A Fortune 500 global infrastructure consulting firm
Several clients are building advanced technology and AI capabilities out of their India centres.
Business Model and Market Context
The Company attributes this growth to structural shifts in India's office market, with increasing demand for flexible, fully managed workspaces as India strengthens its position as a strategic execution hub for global enterprises. Enterprises are consolidating workplace requirements with scaled operators that can deliver consistent infrastructure and service standards.
Enterprise Client Focus
- 92% of Smartworks' revenue is derived from enterprise clients
- 35% of revenue comes from multi-city clients
- The Company has secured its expansion pipeline in prime locations for FY27 and FY28, and partially for FY29
- Capacity is locked well ahead of demand
Operational Footprint
As of June 30, 2026, Smartworks maintains:
- Total secured footprint: ~16.9 million sq. ft.
- Number of centres: 70
- Geographic coverage: 15 cities across India and Singapore
Campus Features
Smartworks campuses offer comprehensive amenities including cafeterias, convenience stores, gyms, recreation zones, crèches, and round-the-clock support services.
Company Background
Smartworks is India's largest managed office platform by overall footprint, partnering with real estate developers to transform bare-shell assets into fully managed, enterprise-grade campuses. The Company serves 760+ clients including Fortune 500 companies, MNCs, Indian conglomerates, and unicorns. The Company listed on NSE and BSE on July 17, 2025.