Smartworks Adds ₹235 Crore in Contracted Rental Revenue Through Enterprise Expansions

Smartworks Adds ₹235 Crore in Contracted Rental Revenue Through Enterprise Expansions

Managed office platform Smartworks has added ₹235 crore in incremental contracted rental revenue through expansion mandates from existing enterprise clients, highlighting continued demand for flexible and fully managed office space across India.

The additional revenue comes from leasing arrangements with tenures of up to 60 months and builds on Smartworks’ contracted rental revenue base of ₹5,400 crore as of June 30, 2026.

The company said the latest expansions involve large corporate customers, including Fortune 500 and Forbes 2000 companies. Some of these clients are also expanding their India operations in areas such as advanced technology and artificial intelligence.

The development comes at a time when large enterprises are increasingly looking for office solutions that can combine location, infrastructure and flexibility. Rather than committing to conventional office leases and managing facilities independently, companies are increasingly turning to managed workspace operators for ready-to-use offices that can be scaled as business requirements change.

For Smartworks, this shift has helped strengthen its enterprise-focused business model. Around 92% of its revenue comes from enterprise clients, while approximately 35% is generated from customers operating across multiple cities.

The company has also secured its expansion pipeline in prime business locations for FY27 and FY28, with some capacity already locked in for FY29. This provides Smartworks with visibility on future expansion while allowing clients to scale their workplace requirements across locations.

Unlike conventional coworking models that largely focus on individual professionals and smaller businesses, Smartworks operates managed campuses designed for larger organisations. Its facilities typically combine office space with amenities such as cafeterias, convenience stores, gyms, recreation areas, crèches and round-the-clock support.

As of June 30, 2026, Smartworks had a secured footprint of about 16.9 million sq ft across 70 centres in 15 cities in India and Singapore.

The latest enterprise expansions also point to a broader change in India’s office market. As global companies continue to build and expand their India operations, demand is shifting towards workplace providers capable of delivering consistent infrastructure and services across multiple locations.

For Smartworks, converting expansion requirements from existing clients into longer-term contracted revenue could therefore remain an important growth driver as enterprises reassess their office footprints and adopt more flexible workplace strategies.