Smartworks Coworking Spaces has expanded its presence in India’s managed office segment. The company recently extended its engagement with a global customer experience (CX) firm listed in the Forbes 2000.
As part of this expansion, the client now operates more than 5,000 seats across four major cities in India.
Meanwhile, Smartworks’ stock saw a slight decline. It dropped 1.84% to ₹368 from its previous close of ₹374.90. Over the past year, the stock has delivered a negative return of 16.7%.
The latest phase of the deal includes the addition of 1,150 seats in Navi Mumbai. These seats are located at Smartworks’ managed campus within Tata Intellion Park.
With this addition, the client’s footprint now spans Bengaluru, Kolkata, Hyderabad, and Mumbai. As a result, the total seat count has crossed 5,000.
This scale places the deal among the larger multi-city managed office agreements in India. The client operates in digital business services and customer experience management globally.
The financial impact of this partnership is significant. The total expected rental revenue from all four locations is estimated to exceed ₹155 crore.
Out of this, the Mumbai expansion alone contributes around ₹51 crore. Therefore, it forms a key part of the overall deal value.
In addition, Smartworks reported over ₹4,700 crore in committed rental revenue as of Q3 FY26. This reflects a steady pipeline of long-term enterprise contracts.
According to Managing Director Neetish Sarda, enterprise clients are increasingly looking for flexibility and consistency. They also prefer the ability to scale operations across multiple locations.
As a result, demand for large-format managed office spaces continues to grow. Clients with more than 1,000 seats contribute nearly 35% of Smartworks’ total revenue.
Similarly, multi-city clients accounted for about 31% of overall revenue in Q3 FY26. This indicates a clear shift toward integrated workspace solutions.
Smartworks focuses on transforming large commercial properties into fully managed office campuses. The company handles design, infrastructure, and daily operations.
This approach allows enterprises to expand without directly managing real estate assets.
At present, Smartworks manages around 15.3 million square feet of workspace across 63 centres. Its operations span 15 cities in India and Singapore.
The company serves more than 770 clients, including global capability centres (GCCs), multinational companies, and startups.
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