Smartworks Coworking Spaces has leased over 930 seats in Pune to the India-based subsidiary of a UK-headquartered global professional services and technology firm. The 60-month engagement is expected to generate committed rental revenue of ~INR 58 Crore. With this addition, the client's total seat count with Smartworks now stands at over 1,730 seats, with the combined expected rental commitment estimated at ~INR 102 Crore.

Deal Highlights

The following table outlines the key operational and financial details associated with the latest engagement:

Company Footprint and Client Profile

As of March 31, 2026, Smartworks reported a total footprint of ~16.1 million sq. ft. across 66 centres in 15 cities in India and Singapore. Clients with 300 or more seats account for ~69% of Smartworks' rental revenue, with an average tenure of ~47 months for this cohort. Multi-city clients contribute approximately 31% of overall revenue, and over 90% of the company's revenue comes from enterprise clients.

Neetish Sarda, Founder and Managing Director, Smartworks, stated that the continued expansion of global enterprises affirms the value delivered by their managed campuses. The disclosure was submitted to the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Smartworks Coworking Spaces Ltd has completed the acquisition of Workstudio Spaces Pte. Ltd for 2.47 Million SGD, adding over 45 clients across diverse industry sectors to its portfolio. The transaction, finalized on July 06, 2026, through wholly owned subsidiary Smartworks Space Pte. Ltd, strengthens the company's presence in Singapore's enterprise workspace market. This strategic expansion increases Smartworks' operational footprint in the region to four centres spanning approximately 76,000 sq. ft. with a seating capacity of over 1,500.

The acquisition is classified as a related party transaction as an immediate relative of a director and promoter holds interest in the holding company of the target entity, though the deal was conducted at arm's length. The target entity, incorporated in Singapore on November 20, 2024, reported a turnover of INR 5.09 Crores from incorporation until March 31, 2026. The investment was made entirely by the subsidiary, with no direct investment required from the company.

Acquisition Details

The key parameters of the transaction are summarised below:

Neetish Sarda, Founder and Managing Director, Smartworks, stated that the acquisition marks an important step in the company's Singapore journey, more than doubling its footprint in two years. Soroush Ostovari, Sales Director, Singapore, noted that the addition of Smartworks' operational expertise and scale provides a platform to serve growing demand in the city's CBD. The strategic location of the new centre, near the upcoming Prince Edward MRT station, is expected to enhance accessibility for enterprise occupiers.

The disclosure was submitted to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Smartworks is India's largest managed office platform by total area under management, with a footprint of approximately 16.1 million square feet across 66 centres in 15 cities as on March 31, 2026.