Mumbai, Aug. 28 -- Smartworks Coworking Spaces Ltd added Rs 2,350 million (mn) in incremental contracted rental revenue as enterprises expanded operations in India, with mandates coming from existing clients that include Fortune 500 and Forbes 2000 companies. The new contracts, some with tenures of up to 60 months, build on a contracted rental revenue base of around Rs 54 billion (bn) as of June 30, 2026. The company views the increase as a sign of sustained enterprise demand for flexible, fully managed workspaces.
Large organisations are increasingly consolidating workplace requirements with scaled operators that can deliver consistent infrastructure, service standards and operational efficiency across multiple locations. Several clients driving the expansion are developing advanced technology and artificial intelligence capabilities in their India centres, the company reported. The new mandates include a global engineering and technology services company that is a subsidiary of a Fortune India 500 company, the India IT services arm of a Forbes 2000 firm and a Fortune 500 global infrastructure consulting firm.
Enterprise customers account for around 92 per cent of Smartworks' revenue while approximately 35 per cent comes from multi-city clients, underscoring the firm's role as a workspace and infrastructure partner for businesses operating across geographies. The company has secured an expansion pipeline in prime locations for fiscal years 27 and 28 and has partly locked capacity for fiscal year 29 to prepare for expected demand. This forward booking aims to provide clients with the ability to scale without the disruption associated with relocating or refitting offices.
As of June 30, 2026 Smartworks had a secured footprint of around 16.9 million (mn) square feet across 70 centres in 15 cities in India and Singapore, with campuses offering cafeterias, gyms, recreation zones, creches and round-the-clock support. The founder and managing director described the decision by existing clients to expand within campuses as validation of the managed-office model and said it reflects a preference for prime locations and employee-focused amenities. The company's proposition is positioned to serve enterprises seeking integrated workplace ecosystems across multiple urban centres.
Published by HT Digital Content Services with permission from Construction World.