Smartworks Coworking Spaces Limited announced the signing of new leasing engagements with large corporate clients, adding ~₹305 crore in incremental contracted rental revenue. The deals, spanning up to 60 months, were finalized on September 30, 2026, reinforcing the company's position as India’s largest managed office platform.

This announcement follows a recent disclosure of ~₹235 crore in incremental contracted rental revenue from existing client expansions. Combined, the two developments represent ~₹540 crore in additional contracted revenue. The new clients include diverse sectors such as technology solutions, research and consulting, healthcare, sportswear, and global customer experience management services.

Client diversification and sector mix

The new sign-ups comprise large Indian and global corporates, including a technology solutions company backed by a Fortune 500 parent, a research major, a healthcare firm, a lifestyle brand, and a Global CXM provider. This diversification highlights the broad-based demand for managed workspaces across industries.

Neetish Sarda, Founder and Managing Director of Smartworks, stated that businesses increasingly view offices as enablers of growth rather than constraints. He emphasized that companies prefer speed and flexibility to focus capital on core operations, driving managed workspaces to become the default choice for large corporates.

Operational scale and market position

Smartworks currently serves over 760 clients, with ~92% of its revenue derived from large corporates. As of June 30, 2026, the company operated ~16.9 million square feet across 70 centers in 15 cities in India and Singapore. The company has secured its expansion pipeline for FY27 and FY28, with capacity locked well ahead of demand in prime locations.

What the numbers show

The combined ~₹540 crore in incremental contracted revenue represents approximately 10% of Smartworks' existing ~₹5,400 crore contracted rental revenue base as of June 30, 2026. This significant addition to the order book, driven by both new client acquisition and existing account expansion, underscores robust demand momentum. The high concentration of revenue from large corporates (~92%) suggests a strategic focus on enterprise-grade stability, while the securing of expansion capacity for FY27 and FY28 indicates confidence in sustained future occupancy rates.

Smartworks Coworking Spaces Limited held its 11th Annual General Meeting on September 22, 2026, passing all 8 resolutions with requisite majority, with total votes polled at 72,501,918 representing 63.39% of outstanding shares.

The meeting was conducted via Video Conferencing and Other Audio Visual Means in compliance with SEBI and MCA regulations, commencing at 3:34 pm and concluding at 4:40 pm. Chairman Atul Gautam led the proceedings. As on the record date of September 15, 2026, the total number of shareholders stood at 19,687. Remote e-voting was open from September 19, 2026 to September 21, 2026, facilitated by National Securities Depository Limited. The Company Secretary reported that the Independent Auditors' Report on both standalone and consolidated financial statements for the fiscal year ended March 31, 2026 did not contain any qualifications, and the Secretarial Audit Report issued by SBYN & Associates LLP raised no adverse comments.

Key attendees and procedures

Representatives from Deloitte Haskins & Sells LLP, the statutory auditors, and Shirin Bhatt, the appointed scrutinizer, participated virtually to oversee the voting process and audit disclosures. Key regulatory documents, including the Register of Directors, Register of Contracts, and the Certificate from the Secretarial Auditor on the Employee Stock Option Scheme 2022, were made available for inspection by members during the AGM.

Resolutions considered

The AGM considered 8 resolutions — 2 ordinary and 6 special. Items 1 and 2 were passed as ordinary resolutions with requisite majority, while Items 3 through 8 were passed as special resolutions with three-fourths majority of votes cast in favour.

Consolidated voting results

The following table summarises the consolidated voting outcome across all 8 resolutions. Total shares held across all categories stood at 114,381,076.

The promoter and promoter group, holding 66,643,155 shares, voted 100% in favour of all resolutions. Public institutional investors, holding 10,749,163 shares, polled 5,763,674 votes (53.62% of their holding) and voted entirely in favour on most resolutions, with minor dissent on Items 5 and 6. Public non-institutional shareholders, holding 36,988,758 shares, polled 95,089 votes (0.26% of their holding). No invalid votes were reported across any category for any resolution. The electronic register and all related documents are to remain in the scrutinizer's custody until the Chairman approves and signs the minutes of the AGM.