Smartworks leases 400+ seats to Japanese NBFC subsidiary in Mumbai
Smartworks Coworking Spaces Limited has leased over 400 seats to a subsidiary of a Japanese NBFC in Mumbai for a five-year term. The deal is expected to generate ~INR 35 Crore in rental revenue. This transaction aligns with the company's focus on the large-format enterprise segment, where clients with 300 or more seats account for ~69% of rental revenue.
*this image is generated using AI for illustrative purposes only.
Smartworks Coworking Spaces Limited has leased over 400 seats to a subsidiary of a Japanese Non-Banking Financial Company (NBFC) in Mumbai. The five-year engagement is estimated to generate a rental revenue of ~INR 35 Crore, reinforcing the company's position in the managed workspace segment.
Deal Highlights
The transaction details are summarised below:
| Parameter | Details |
|---|---|
| Client | Subsidiary of a Japanese NBFC |
| Location | Mumbai |
| Seats Leased | Over 400 |
| Lease Term | 5 years |
| Total Rental Revenue | ~INR 35 Crore |
Strategic Significance
This agreement highlights the increasing demand among international financial institutions for flexible, managed workspace solutions in India's key commercial hubs. Neetish Sarda, Founder and Managing Director, Smartworks, stated that large teams require operationally seamless space built to scale, which the company's managed campus model delivers.
The deal aligns with Smartworks' focus on the large-format enterprise segment. Clients with 300 or more seats account for ~69% of the company's rental revenue, with an average tenure of ~47 months for this cohort. Approximately 90% of the company's revenue comes from enterprise clients.
As of March 31, 2026, Smartworks has a total footprint of ~16.1 million sq. ft. across 66 centres in 15 cities in India and Singapore. The company partners with developers to lease large buildings and transform them into fully managed enterprise campuses.
Historical Stock Returns for Smartworks Coworking Spaces
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.56% | +4.14% | -1.28% | +3.72% | +1.99% | +1.99% |
Will this deal trigger increased interest from other Japanese financial institutions looking to expand into India?
How will Smartworks utilize this capital to accelerate its footprint expansion across the 15 cities?
Does this partnership signal a potential shift in strategy towards targeting more international NBFCs for growth?
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