Date: 30th September 2026

Operational Update

Smartworks Coworking Spaces Limited announced signing of new leasing engagements with large corporate clients across multiple cities, adding ~INR 305 crore in incremental contracted rental revenue. The value represents leasing rental revenue from engagements of up to 60 months.

This builds on the Company's ~INR 5,400 crore contracted rental revenue base as of June 30, 2026. The new sign-ups are in addition to the recently announced ~INR 235 crore contracted rental revenue from existing client expansions.

Together, the two announcements represent ~INR 540 crore in incremental contracted rental revenue. The new clients comprise a diverse mix of large Indian and global corporates across sectors, including:

  • A technology solutions company backed by a Fortune 500 and Forbes Global 2000 parent
  • A research and consulting major
  • A healthcare company
  • A sportswear and lifestyle brand
  • A Global CXM services provider

Business Metrics and Strategy

  • Smartworks serves over 760 clients, with ~92% of revenue coming from large corporates
  • 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
  • Company strategically secures long-term leases for large, full campuses in prime business locations across high-demand cities
  • Campuses offer cafeterias, convenience stores, gyms, recreation zones, crèches and round-the-clock support

Company Overview

  • India's largest managed office platform by overall footprint
  • ~16.9 million square feet across 70 centres in 15 cities across India and Singapore (as of June 30, 2026)
  • Partners with real estate developers to transform large, bare-shell assets into fully managed, enterprise-grade campuses
  • Primarily serves mid-to-large enterprises including Fortune 500 and Forbes 2000 companies, MNCs, leading Indian conglomerates and unicorns
  • Offers SmartVantage, a GCC-focused solution combining scalable campuses with curated ecosystem partners
  • Listed on NSE and BSE on 17 July 2025