Investor Communication
Smartworks Expands Enterprise Client Engagement with 930+ Seat Lease in Pune; Total Client Commitment Crosses ₹102 Crore
NSE
smartworks
BSE
544447
Smartworks Coworking Spaces Limited has signed a new enterprise leasing agreement for over 930 seats in Pune with the Indian subsidiary of a UK-headquartered professional services firm. The five-year engagement is expected to generate approximately ₹58 crore in committed rental revenue, increasing the client’s total seat count with Smartworks to more than 1,730 seats and combined rental commitment to around ₹102 crore.
PRICE-SENSITIVE TRIGGER
Event: Expansion of enterprise client engagement through a new managed office lease.
Type: Investor Communication
Impact: Positive
Immediate Effect: The new long-term lease strengthens Smartworks’ enterprise portfolio, expands occupancy in Pune and increases the client’s cumulative rental commitment with the company.
Financials:
Metrics:
- New Lease Duration: 60 months
- Committed Rental Revenue (New Engagement): Approximately ₹58 Crore
- Combined Rental Commitment: Approximately ₹102 Crore
- Seats Leased: Over 930
- Client Total Seats with Smartworks: Over 1,730
- Clients with 300+ Seats: Contribute approximately 69% of rental revenue
- Average Tenure of Large Clients: Approximately 47 months
- Multi-City Clients Contribution: Approximately 31% of overall revenue
- Enterprise Client Revenue Contribution: More than 90%
- Managed Workspace Portfolio: Approximately 16.1 million sq. ft.
- Centres: 66
- Cities: 15 across India and Singapore
Highlight:
- A new five-year enterprise lease for over 930 seats is expected to generate nearly ₹58 crore in committed rental revenue, taking the client’s cumulative rental commitment with Smartworks to approximately ₹102 crore.
What Happened ?
Smartworks Coworking Spaces Limited announced that it has leased more than 930 managed office seats in Pune to the Indian subsidiary of a UK-headquartered global professional services and technology company.
Following this expansion, the client’s overall footprint with Smartworks exceeds 1,730 seats. The newly signed 60-month agreement is expected to contribute around ₹58 crore in committed rental revenue, while the client’s combined rental commitment across engagements is estimated at approximately ₹102 crore.
The transaction further strengthens Smartworks’ enterprise-focused managed office strategy and reflects continued demand from large multinational clients seeking scalable workspace solutions.
key details
Enterprise Client Expansion:
- Smartworks leased more than 930 seats in Pune to an Indian subsidiary of a UK-headquartered professional services firm.
- The client’s cumulative seat count with Smartworks now exceeds 1,730 seats.
- The lease tenure is 60 months.
- The new engagement is expected to generate approximately ₹58 crore in committed rental revenue.
- Combined rental commitment from the client is estimated at around ₹102 crore.
- Clients occupying 300 or more seats contribute nearly 69% of Smartworks’ rental revenue.
- Multi-city enterprise clients account for approximately 31% of overall revenue.
- More than 90% of the company’s revenue is generated from enterprise customers.
- As of 31 March 2026, Smartworks operated approximately 16.1 million sq. ft. across 66 centres in 15 citiesspanning India and Singapore.
- The company continues to transform leased commercial buildings into fully managed enterprise campuses offering workspace design, technology infrastructure and workplace services.
Note:
- The announcement reinforces Smartworks’ strategy of focusing on large enterprise clients through long-term managed office contracts, supporting recurring rental revenue visibility and portfolio expansion.
Risk Analysis
Summary:
- While the transaction strengthens recurring revenue visibility, the financial benefits remain dependent on successful occupancy, contract execution and continued demand from enterprise customers.
Key Risks:
- Revenue realization depends on successful execution over the full five-year lease period.
- Enterprise leasing remains concentrated among large corporate clients.
- Demand for premium managed office space may be influenced by macroeconomic conditions and workplace strategy changes.
- Future occupancy and expansion depend on sustained enterprise hiring and office utilization trends.
Worst Case:
- If the client scales down operations or workspace requirements before the end of the lease period, anticipated rental revenues and occupancy levels could be impacted, subject to contractual protections.
Risk Level: Low
Company Commentary
- Management stated that the continued expansion by global enterprises validates the value delivered by Smartworks’ managed campuses.
- The company believes the transaction reflects enterprise confidence in its scalable infrastructure, operational consistency and long-term partnership model.
- Smartworks continues to focus on developing large enterprise campuses integrating workspace design, technology infrastructure and workplace services for productivity and operational efficiency.
Official Exchange Filing: Smartworks Coworking Spaces Limited
