Smartworks Expands Multi-City Managed Office Portfolio with Global CX Leader
Smartworks Coworking Spaces Limited announced the expansion of its multi-city managed office engagement with a Forbes 2000 global leader in digital business services and customer experience (CX) management. The addition bolsters the client's presence across four major metropolitan areas, bringing the overall seat count to exceed 5,000 seats.The expansion includes 1,150 seats at Smartworks' managed campus located at Tata Intellion Park in Navi Mumbai. With this addition, the client portfolio now spans Bengaluru, Kolkata, Hyderabad, and Mumbai.
The combined expected rental revenue from these locations is estimated to exceed INR 155 Cr. This figure incorporates a newly signed managed office deal in Mumbai valued at INR 51 Cr.
Neetish Sarda, Founder and Managing Director of Smartworks, stated that the continued expansion across four cities reflects the strength of the platform and the deepening relationships with global clients, which increasingly value consistency in experience, speed of execution, and seamless scalability.
Portfolio Overview and Revenue Highlights
Smartworks' operational model involves leasing large commercial buildings and converting them into managed office campuses tailored for enterprise use. The company handles design, delivery, technology, and daily operations, enabling occupiers to scale without managing real estate ownership.The company's portfolio demonstrates a strong reliance on large-format deployments. Clients with over 1,000 seats contributed approximately 35% of Smartworks' revenue. Furthermore, multi-city clients accounted for about 31% of the company's overall revenue in Q3 FY26.
As of Q3 FY26, Smartworks recorded committed rental revenue exceeding INR 4,700 Cr.
In a summary of the key financial metrics mentioned:
| Metric | Value |
|---|---|
| Expected Revenue from New Deal(s) | Exceeds INR 155 Cr. |
| Newly Signed Mumbai Deal Value | INR 51 Cr. |
| Committed Rental Revenue (Q3 FY26) | Over INR 4,700 Cr. |
Smartworks maintains a large footprint across India and Singapore, managing a total area under management of approximately 15.3 million sq. ft. The company serves mid-to-large enterprises and reports serving over 770 clients, including Forbes 2000 companies, GCCs, and MNCs.
SMARTWORKS Stock Price Movement
Smartworks Coworking Spaces Limited shares dipped by ₹9.7 (-2.53%) to trade at ₹373 on Thursday, after moving between ₹371 and ₹381.9 during the session. The stock remained within its established 52-week range, trading on low activity throughout the day.Source:
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