Smartworks Coworking Spaces Ltd has leased more than 400 desks at its centre in Mumbai to a Japanese NBFC subsidiary and will earn a rental income of around ₹35 crore over the next five years.
In a regulatory filing on Monday, Smartworks said, “The five-year engagement is estimated to generate rental revenue of about ₹35 crore.” As of March 31, 2026, Smartworks has a total footprint of 16.1 million sq ft, across 66 centres in 15 cities in India and Singapore.
Smartworks takes on lease large buildings from real estate developers and transform them into fully managed enterprise campuses.
During the 2025-26 fiscal, Smartworks posted a net profit of ₹10.52 crore as against a net loss of ₹63.17 crore in the preceding financial year.
Total income increased to ₹1,849.9 crore last fiscal from ₹1,409.66 crore during 2024-25.
According to real estate consultant Vestian, India’s top seven cities have nearly 1,400 coworking centres, with 10 big operators holding two-thirds of the total 82 million square feet of flexible managed workspaces.