Smartworks Expands Multi-City Deal With Forbes 2000 Client; Seats Top 5,000

Smartworks coworking spaces Limited has announced a significant expansion of its multi-city engagement with a Forbes 2000 company and global leader in digital business services and customer experience management. The latest development adds 1,150 seats at the company's managed campus at Tata Intellion Park, Navi Mumbai, further strengthening its enterprise client relationships.

Multi-City Portfolio Expansion

The expansion brings the client's total portfolio with Smartworks to over 5,000 seats across four major cities. The comprehensive footprint now spans:

Parameter:	Details
Cities Covered:	Bengaluru, Kolkata, Hyderabad, Mumbai
Total Seats:	Over 5,000 seats
Mumbai Addition:	1,150 seats at Tata Intellion Park
Location Type:	Managed campus facilities

Revenue Impact and Financial Metrics

The multi-city deal represents substantial revenue potential for Smartworks. The combined expected rental revenue from all locations exceeds INR 155 Cr., with the newly signed Mumbai managed office deal contributing INR 51 Cr. to this total.

Financial Metric:	Value
Total Expected Revenue:	Over INR 155 Cr.
Mumbai Deal Value:	INR 51 Cr.
Committed Rental Revenue (Q3 FY26):	Over INR 4,700 Cr.

Enterprise Client Portfolio Strength

The deal underscores Smartworks' strong positioning in the large-format enterprise segment. According to the company's Q3 FY26 data, clients with 1,000+ seats contribute approximately 35% of revenue, driven primarily by enterprise and Global Capability Center demand. Multi-city clients represented approximately 31% of the company's overall revenue during the same period.

Neetish Sardar, Founder and Managing Director of Smartworks, commented on the development: "As enterprises expand across regions, they increasingly value consistency in experience, speed of execution, and the ability to scale seamlessly within a single ecosystem. This continued expansion across four cities reflects the strength of the platform we have built and the long-term relationships we continue to deepen with global clients."

Market Position and Business Model

Smartworks operates as India's largest managed office platform by total area under management, with a footprint of approximately 15.30 million sq. ft. across 63 centres in 15 cities in India and Singapore. The company's business model involves leasing large commercial buildings and converting them into managed office campuses designed for enterprise use.

Key operational highlights include:

Management of design, delivery, technology, and daily operations
Service to 770+ clients including Forbes 2000 companies, GCCs, MNCs, and startups
SmartVantage solution specifically focused on Global Capability Centers
Partnership approach with developers to transform bare-shell assets

The expansion reflects the increasing preference among large enterprises for campus-style, multi-city workspace partnerships, as Smartworks continues to experience strong momentum from large-format deployments and enterprise expansion mandates.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+5.82%	+8.79%	+0.40%	-30.95%	-8.95%	-8.95%

Smartworks Coworking Spaces Limited has announced a strategic capacity expansion in Hyderabad, entering into a lease deed for 1,25,906 sq ft of additional workspace. The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlighting the company's commitment to expanding its operational footprint.

Capacity Expansion Details

The Hyderabad expansion represents a significant addition to the company's existing infrastructure. The new facility will require an investment of approximately INR 17.00 crores, which will be funded through internal accruals and issue proceeds.

Parameter:	Details
Capacity Addition:	1,25,906 Sq. Ft
Investment Required:	INR 17.00 Crores (Approx.)
Completion Timeline:	Within April 2026
Financing Mode:	Internal Accruals/Issue Proceeds
Location:	Hyderabad

Current Operational Status

As of 31st December, 2025, Smartworks Coworking Spaces maintains a strong operational position with significant capacity utilization rates. The company's existing infrastructure demonstrates healthy demand for its coworking solutions.

Metric:	Current Status
Total Leased Capacity:	11.1 Million Sq. Ft
Operational Capacity:	9.2 Million Sq. Ft
Capacity Utilization:	84%

Strategic Rationale

The capacity expansion aligns with the company's growth strategy and market positioning. The rationale for this expansion includes:

Supporting business growth initiatives
Expanding operational footprint in key markets
Meeting increasing demand for flexible workspace solutions
Strengthening market presence in Hyderabad

Implementation Timeline

The company has set an ambitious timeline for the capacity addition, targeting completion within April 2026. This timeline reflects the company's commitment to rapid expansion and market responsiveness. The project will be executed using a combination of internal accruals and proceeds from previous issues, demonstrating financial prudence in funding growth initiatives.

The disclosure was made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, ensuring full regulatory compliance and transparency with stakeholders.