Smartworks Coworking Spaces Limited ("Smartworks" or "the Company") has disclosed a significant lease agreement through a press release filed with the National Stock Exchange of India Limited (NSE) and BSE Limited.
Key Business Contract
Smartworks has leased over 400 seats to a Japanese NBFC subsidiary in Mumbai. The engagement has a five-year tenure and is estimated to generate rental revenue of approximately ₹35 crore over the contract period.
Client Segmentation and Revenue Metrics
The company disclosed that clients with 300 or more seats account for approximately 69% of the company's rental revenue. This enterprise cohort has an average tenure of approximately 47 months, indicating strong client retention. Approximately 90% of the company's revenue comes from enterprise clients, positioning Smartworks as a platform for large organizations seeking managed, large-format workspace solutions.
Operational Footprint (as of March 31, 2026)
- Total area under management: ~16.1 million sq. ft.
- Number of centers: 66 centers
- Geographic coverage: 15 cities in India and Singapore
- Client base: 770+ clients
Business Model Description
Smartworks partners with developers to lease large buildings and transform them into fully managed enterprise campuses. The company offers integrated workspace design, technology infrastructure, and workplace services focused on supporting collaboration, productivity, and operational efficiency for large organizations. The company also offers SmartVantage, a GCC-focused platform designed to support global organizations entering or expanding in India.
Management Commentary
Neetish Sarda, Founder and Managing Director of Smartworks, commented: "Large teams have a very specific set of workplace requirements - they need space that is operationally seamless, consistent across every touchpoint, and built to scale as the organisation grows. That is precisely what our managed campus model is designed to deliver."