Smartworks Expands Engagement with L&T Technology Services, Adding 1,100 Seats in Pune

Smartworks Expands Engagement with L&T Technology Services, Adding 1,100 Seats in Pune​

Smartworks Coworking Spaces Limited has announced a significant expansion of its managed office engagement with L&T Technology Services (LTTS), adding over 1,100 seats in Pune. This move marks continued growth in the long-standing multi-city partnership, strengthening Smartworks' position within the enterprise segment.

The addition means that LTTS’s entire portfolio of managed offices through Smartworks now exceeds 2,750 seats across various cities. The combined expected rental revenue from these locations is estimated at approximately INR 115 Cr. This includes the Pune expansion specifically, which accounts for around INR 55 Cr. over a tenure of 60 months.

Commenting on the development, Neetish Sarda, Founder and Managing Director of Smartworks, stated that enterprise workplace decisions are increasingly being driven by flexibility, speed, and confidence to scale. He added that this expansion reflects the trust clients place in Smartworks' ability to deliver customized workplaces with operational excellence and agility.

The partnership reinforcement aligns with Smartworks’ leadership in the large-format enterprise segment. The Company noted that corporate clients commanding more than 1,000 seats contribute approximately 37% of Smartworks' total rental revenue. Overall, the engagement highlights how vital enterprise clients are to the business model, as these organizations account for approximately 90% of the company's total revenue.

Corporate Scale and Market Positioning​

Smartworks is recognized as India's largest managed office platform by total area under management (TAMA). As of March 31, 2026, the Company holds a footprint of roughly 16.1 million square feet across 66 centers in 15 cities across India and Singapore.

Smartworks serves mid-to-large enterprises and reports over 770 clients, which include Fortune 500 companies, Forbes 2000 names, GCCs, and MNCs. The company operates through partnerships with developers to transform large, bare-shell assets into fully managed, enterprise grade campuses. Smartworks also offers SmartVantage, a solution tailored for GCC focus that combines scalable campuses with a curated ecosystem of support partners for rapid expansion in India.

SMARTWORKS Stock Price Movement​

Shares of Smartworks Coworking Spaces Limited slipped by 1.48% on Friday, settling at ₹455.50 after shedding ₹6.85 from the previous close. The stock saw active trading throughout the session, with 29,145 shares changing hands as it traded within a range defined by a day high of ₹467.