Smartworks Coworking Spaces Limited, a managed office space provider, has leased more than 400 seats at its Mumbai centre to a Japanese NBFC subsidiary under a five-year agreement. The deal is expected to generate rental revenue of approximately ₹35 crore over the lease term, the company said in a regulatory filing dated June 8.
The five-year engagement is estimated to generate rental revenue of around ₹35 crore, the company said.
“Large teams have a very specific set of workplace requirements – they need space that is operationally seamless, consistent across every touchpoint, and built to scale as the organisation grows. That is precisely what our managed campus model is designed to deliver,” Neetish Sarda, founder and managing director, Smartworks.
This engagement is consistent with Smartworks’ positioning in the large-format enterprise segment, he said.
Clients with 300 or more seats account for around 69% of the company’s rental revenue, with an average tenure of around 47 months for this cohort – reflecting the depth and durability of enterprise relationships on the platform. Around 90% of the company’s revenue comes from enterprise clients, reflecting it as the platform of choice for large organisations seeking managed, large-format workspace solutions, the company said.
As of March 31, 2026, Smartworks has a total footprint of around 16.1 million sq. ft., across 66 centres in 15 cities in India and Singapore.
The company partners with developers to transform large bare-shell properties into fully managed, enterprise grade campuses. Smartworks primarily serves mid-to-large enterprises and works with 770+ clients, including multinational corporations, Global Capability Centres and fast-growing technology companies.
The company also offers SmartVantage, a GCC-focused platform designed to support global organisations entering or expanding in India through scalable campuses and a curated ecosystem of partners, the company said.
During the 2025-26 fiscal, 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.
Other major flex-space leasing deals signed by Smartworks
In April 2026, Smartworks Coworking Spaces Limited, said it has expanded its multi-city managed office engagement with a Forbes 2000 company and a global leader in digital business services and customer experience (CX) management, taking the client’s total footprint to over 5,000 seats across four cities.
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According to a JLL report released in April, continued their strong growth momentum in Q1 2026, building on the record performance seen in 2025. As companies increasingly use flex spaces as a strategic tool for portfolio optimisation, the 5.56 million sq ft across the top seven cities during the quarter, surpassing the average quarterly space take-up recorded in the previous year.
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