Highlights
- Smartworks has leased more than 930 additional seats at its Pune campus.
- The client's total seat count with the company now exceeds 1,730 seats.
- The new 60-month engagement is expected to generate committed rental revenue of around INR 58 Crore.
- The combined expected rental commitment from the overall engagement is estimated at around INR 102 Crore.
- Enterprise clients continue to account for the majority of Smartworks' revenue base.
Smartworks Announces Expansion of Enterprise Engagement
Smartworks Coworking Spaces Limited has announced the expansion of its relationship with the Indian subsidiary of a UK-headquartered professional services and technology firm through a new office space agreement in Pune. According to the company's official press release dated July 13, 2026, the latest transaction involves leasing more than 930 additional seats, taking the client's overall seat count with Smartworks to over 1,730.
The announcement reflects another expansion within Smartworks' enterprise portfolio, where large organisations continue to account for a significant portion of its managed office business. The company stated that the engagement has been signed for a period of 60 months and is expected to contribute committed rental revenue of approximately INR 58 Crore over the contract tenure.
Combined Rental Commitment Reaches Around INR 102 Crore
With the newly signed agreement, the combined expected rental commitment from the client's existing and new engagements has been estimated at approximately INR 102 Crore.
The company highlighted that the latest leasing transaction builds upon an existing relationship rather than representing a new client addition. The increase in seating capacity indicates continued workspace expansion by the client within Smartworks' managed office platform.
Since the agreement spans five years, it provides visibility into a long-term rental commitment while further increasing the scale of the client's presence within the company's portfolio.
Enterprise Clients Continue to Drive Business
Smartworks also shared additional operational metrics that illustrate the composition of its customer base.
According to the company, clients occupying 300 or more seats contribute around 69% of its rental revenue. These larger enterprise customers have an average engagement tenure of approximately 47 months.
The company further stated that clients operating across multiple cities contribute nearly 31% of its overall revenue. This reflects continued usage of Smartworks' workspace network by organisations that require office infrastructure across different business locations.
Another notable aspect disclosed in the announcement is that enterprise customers account for more than 90% of the company's total revenue. This highlights Smartworks' focus on serving medium and large organisations through long-term managed office solutions.
Company Highlights Scale of Managed Office Platform
As of March 31, 2026, Smartworks reported a managed office footprint of approximately 16.1 million square feet spread across 66 centres located in 15 cities across India and Singapore.
The company follows a business model in which it partners with property developers to lease large commercial buildings and convert them into fully managed enterprise campuses. These campuses integrate workspace planning, technology infrastructure and workplace services designed to support collaboration, productivity and operational requirements of large organisations.
The company stated that its managed campuses are intended to provide scalable office infrastructure for enterprise clients operating across multiple locations.
Focus on Long-Term Enterprise Relationships
Commenting on the development, the company's Founder and Managing Director said that the continued expansion by global enterprises reflects customer confidence in managed campuses designed for scale, operational consistency and long-term business growth.
The latest agreement also demonstrates how existing enterprise customers continue to expand their office requirements over time rather than limiting engagements to a single location or occupancy level.
Such long-duration contracts, combined with increasing seat requirements, form part of Smartworks' broader enterprise-focused operating model.
Smartworks' Business Profile
Smartworks describes itself as India's largest managed office platform by total area under management. As of March 31, 2026, the company operated across 66 centres covering around 16.1 million square feet in India and Singapore.
The company serves more than 770 clients comprising enterprise businesses across multiple sectors. In addition to managed office campuses, it also offers SmartVantage, a solution designed to support Global Capability Centres through integrated workplace and operational support services.
Smartworks has been listed on both the NSE and BSE since July 17, 2025.
Conclusion
The latest expansion in Pune further strengthens Smartworks' engagement with an existing enterprise client, increasing the client's total seating capacity to more than 1,730 seats. The newly signed 60-month agreement is expected to contribute approximately INR 58 Crore in committed rental revenue, while the combined expected rental commitment from the relationship has reached around INR 102 Crore. The announcement also highlights the company's continued focus on enterprise customers, long-term occupancy contracts and managed office campuses across its expanding operational footprint.
FAQs
Q: What did Smartworks announce on July 13, 2026?
A: Smartworks announced that it has leased more than 930 additional seats in Pune to the Indian subsidiary of a UK-headquartered professional services and technology firm.
Q: What is the total seating capacity after the latest expansion?
A: Following the latest agreement, the client's total seat count with Smartworks has exceeded 1,730 seats.
Q: What is the duration of the new leasing agreement?
A: The agreement has been signed for a tenure of 60 months.
Q: What is the expected rental commitment from the engagement?
A: The new engagement is expected to generate committed rental revenue of around INR 58 Crore, while the combined expected rental commitment from the overall relationship is estimated at approximately INR 102 Crore.
Q: What was Smartworks' operational footprint as of March 31, 2026?
A: As of March 31, 2026, Smartworks had an operational footprint of approximately 16.1 million square feet across 66 centres located in 15 cities in India and Singapore.