Lease Agreement Details
Smartworks Coworking Spaces Limited has leased over 930 seats to the India-based subsidiary of a UK-headquartered global professional services and technology firm in Pune. The lease period is for 60 months. This new engagement is expected to generate committed rental revenue of approximately ₹58 Crore.
Client Relationship Context
With this new lease, the client's total seat count with Smartworks now stands at over 1,730 seats. The combined expected rental commitment from both existing and new engagements is estimated at approximately ₹102 Crore.
Management Commentary
Neetish Sarda, Founder and Managing Director of Smartworks, commented: "The continued expansion of global enterprises with us is a strong affirmation of the value our managed campuses deliver. It reflects the confidence that enterprises place in infrastructure built for scale, consistency, and long-term growth."
Business Metrics Disclosure
- Clients with 300 or more seats account for approximately 69% of Smartworks' rental revenue
- Average tenure for this client cohort is approximately 47 months
- Multi-city clients contribute approximately 31% of overall revenue
- Over 90% of the Company's revenue comes from enterprise clients
Company Footprint
As of March 31, 2026, Smartworks has a total footprint of approximately 16.1 million sq. ft. across 66 centres in 15 cities in India and Singapore.
Business Model Description
The Company partners with developers to lease large buildings and transform them into fully managed enterprise campuses, integrating workspace design, technology infrastructure, and workplace services to support collaboration, productivity, and operational efficiency for large organisations.
Additional Company Information
Smartworks listed on NSE and BSE on 17 July 2025. The company also offers SmartVantage, a GCC-focused solution combining scalable campuses with a curated ecosystem of partners across legal, compliance, talent, and operational support.