Smartworks Coworking Spaces adds ~2,47,000 sq ft Jaipur capacity for INR 35 Cr

Smartworks Coworking Spaces Ltd is expanding its operational footprint by adding approximately 2,47,000 sq ft of capacity in Jaipur. The expansion, requiring an investment of INR 35.00 Crores, is scheduled for completion within July 2026 to support business growth.

The company disclosed that the new capacity will be financed through internal accruals and issue proceeds. As of March 31, 2026, Smartworks Coworking Spaces Ltd reported a total leased capacity of 13.7 Million Sq. Ft, with an operational capacity of 10.1 Million Sq. Ft. The utilization of the operational capacity stood at 82%.

The details of the capacity addition were submitted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Capacity Addition Details

Particulars	Description
Existing capacity (Leased)	13.7 Million Sq. Ft
Existing capacity (Operational)	10.1 Million Sq. Ft
Existing capacity utilization	82% (Operational Capacity)
Proposed capacity addition	~2,47,000 Sq. Ft
Investment required	INR 35.00 Crores (Approx.)
Mode of financing	Internal Accruals/ Issue Proceeds
Implementation period	Within July 2026

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.17%	+4.00%	+4.44%	+10.43%	+13.64%	+9.91%

Smartworks Coworking Spaces has expanded its engagement with L&T Technology Services (LTTS) through the addition of over 1,100 seats in Pune. This development increases LTTS's managed office portfolio with Smartworks to over 2,750 seats across multiple cities. The combined expected rental revenue from these locations is estimated at ~INR 115 Cr., with the Pune expansion contributing ~INR 55 Cr. for a tenure of 60 months.

Engagement Details

The expansion reinforces the long-standing, multi-city enterprise engagement between the two entities. The following table outlines the key financial metrics associated with the expanded portfolio:

Metric:	Value:
Total seats across cities	Over 2,750
New seats in Pune	Over 1,100
Combined expected rental revenue	~INR 115 Cr.
Expected revenue from Pune expansion	~INR 55 Cr.
Tenure for Pune expansion	60 months

Strategic Positioning

Neetish Sarda, Founder and Managing Director of Smartworks, attributed the expansion to the increasing demand for flexibility and speed in enterprise workplace decisions. He noted that the managed campuses provide the operational excellence and agility required to support evolving business requirements. This expansion aligns with the company's strong positioning in the large-format enterprise segment, where clients with more than 1,000 seats contribute approximately 37% of total rental revenue.

Business Overview

Enterprise clients contribute ~90% of Smartworks' total revenue, solidifying its status as a platform of choice for large organisations seeking managed workspace solutions. As of March 31, 2026, the company manages ~16.1 million square feet across 66 centres in 15 cities, including India and Singapore. The client base includes 770+ clients, comprising Fortune 500 companies, Forbes 2000 names, Global Capability Centers (GCCs), and multinational corporations.