Smartworks Coworking Spaces has leased 930+ seats in Pune to the Indian subsidiary of a UK-headquartered technology and professional services company. The five-year agreement is valued at ₹58 crore, taking the client’s total footprint with Smartworks beyond 1,730 seats and reinforcing the growing demand for enterprise-managed office solutions.
Managed workspace provider Smartworks Coworking Spaces has strengthened its enterprise portfolio by signing a 60-month workspace agreement worth ₹58 crore with the India-based subsidiary of a UK-headquartered professional services and technology company. Under the new deal, Smartworks will provide more than 930 managed office seats at its Pune campus, reflecting the continued demand for flexible office solutions among large enterprises.
With this latest expansion, the client’s total occupancy with Smartworks has crossed 1,730 seats. Combined with the company’s existing engagement, the overall rental commitment now stands at an estimated ₹102 crore, highlighting the value of long-term enterprise relationships in India’s managed workspace market.
Long-Term Enterprise Partnerships Drive Growth
The latest agreement reflects a broader trend in the flexible workspace sector, where large organisations are increasingly choosing managed office operators instead of investing in traditional office infrastructure. Enterprise clients continue to prioritise flexibility, scalability, and operational efficiency as they expand across multiple business locations.
Commenting on the partnership, Neetish Sarda, Founder and Managing Director of Smartworks, said, “The continued expansion of global enterprises with us is a strong affirmation of the value our managed campuses deliver.” The statement highlights the company’s focus on building long-term relationships with multinational corporations and global capability centres (GCCs) that require customised workplace solutions.
Enterprise Clients Remain the Core Business
Smartworks continues to derive the majority of its business from large organisations. According to the company, clients occupying 300 or more seats contribute nearly 69% of its rental revenue, with this customer segment maintaining an average occupancy period of around 47 months. The figures indicate that demand for enterprise-managed workspace is becoming increasingly stable and predictable.
The company also reported that multi-city clients account for approximately 31% of its overall revenue, underscoring the growing preference for workspace providers capable of supporting expansion across multiple locations. More than 90% of Smartworks’ revenue currently comes from enterprise customers, reinforcing its strategy of serving large businesses rather than individual freelancers or small teams.
Expanding Across India’s Office Market
As of 31 March 2026, Smartworks managed a portfolio of approximately 161 lakh sq. ft. across 66 centres in 15 cities spanning India and Singapore. The company works closely with developers by leasing large commercial buildings and transforming them into fully managed enterprise campuses equipped with modern workplace infrastructure and business support services.
Today, Smartworks serves over 770 clients, including Fortune 500 companies, Forbes 2000 firms, multinational corporations, Global Capability Centres (GCCs), and leading Indian enterprises. It also offers SmartVantage, a dedicated solution designed to support GCC expansion in India. Since its listing on the NSE and BSE in July 2025, the company has continued to strengthen its presence in the managed office segment. The latest Pune transaction reflects the growing confidence enterprises have in flexible workspace providers capable of delivering scalable, long-term office solutions while adapting to evolving workplace strategies.
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