India's Leap Towards Sustainable & Innovative Workspace Design
- Industry News
- March 13, 2024

Smartworks has signed a five-year agreement to provide over 1,100 managed office desks to L&T Technology Services in Pune. The ₹55 crore deal expands the partnership to 2,750 seats, highlighting the growing preference among large enterprises for flexible workspaces that offer scalability, operational efficiency, and faster office deployment.
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India’s commercial office market is entering a stronger growth cycle, with vacancy levels falling to 12.9% across the top seven cities. Despite a slight decline in leasing activity during Q2 2026, healthy demand from IT, BFSI, flexible workspace operators, and GCCs continues to support rental growth and long-term market stability.
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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.
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Executive Centre India has leased nearly 115,000 sq. ft. at Worldmark 6 in Delhi’s Aerocity for ₹309 crore over nine years. The deal highlights strong demand for premium Grade A office space, rising interest from flexible workspace operators, and continued growth in India’s commercial real estate market despite limited supply.
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