Expansion Announcement
Smartworks Coworking Spaces Limited, India's largest managed office platform by total area under management, has expanded its engagement with L&T Technology Services (LTTS), a global leader in AI, Digital & ER&D Consulting Services. The expansion involves the addition of over 1,100 seats in Pune.
Portfolio and Financial Impact
With this expansion, LTTS's managed office portfolio with Smartworks has grown to over 2,750 seats across multiple cities. The combined expected rental revenue from these locations is estimated at approximately ₹115 crore. The Pune expansion specifically represents approximately ₹55 crore in expected rental revenue for a tenure of 60 months.
Management Commentary
Neetish Sarda, Founder and Managing Director of Smartworks, commented that enterprise workplace decisions are increasingly driven by flexibility, speed, and the confidence to scale. He stated that this expansion reflects client trust in Smartworks' ability to deliver customized workplaces with operational excellence and agility to support evolving business requirements.
Enterprise Segment Context
The expansion reinforces Smartworks' strong positioning in the large-format enterprise segment. Clients with more than 1,000 seats contribute approximately 37% of Smartworks' total rental revenue. Enterprise clients contribute approximately 90% of Smartworks' total revenue, reflecting the company's position as the platform of choice for large organizations seeking managed, scalable workspace solutions.
Company Background
Smartworks is India's largest managed office platform by total area under management, with a footprint of approximately 16.1 million square feet across 66 centers in 15 cities across India and Singapore as of March 31, 2026. The company partners with developers to transform bare-shell assets into fully managed, enterprise-grade campuses, serving 770+ clients including Fortune 500s, Forbes 2000 names, GCCs, MNCs, and high-growth Indian businesses. Smartworks listed on NSE and BSE on 17 July 2025.