Smartworks leases 400+ seats to Japanese NBFC Subsidiary in Mumbai

Smartworks Coworking Spaces Limited ("Smartworks" or "the Company"), India's largest managed office platform by total area under management, has leased over 400 seats to a Japanese NBFC subsidiary in Mumbai. The five-year engagement is estimated to generate rental revenue of ~INR 35 Crore.

Neetish Sarda, Founder and Managing Director, Smartworks, said: "Large teams have a very specific set of workplace requirements - they need space that is operationally seamless, consistent across every touchpoint, and built to scale as the organisation grows. That is precisely what our managed campus model is designed to deliver."

This engagement is consistent with Smartworks' positioning in the large-format enterprise segment. Clients with 300 or more seats account for ~69% of the company's rental revenue, with an average tenure of ~47 months for this cohort - reflecting the depth and durability of enterprise relationships on the platform.

~90% of the company's revenue comes from enterprise clients, reflecting it as the platform of choice for large organisations seeking managed, large-format workspace solutions.

As of March 31, 2026, Smartworks has a total footprint of ~16.1 million sq. ft., across 66 centres in 15 cities in India and Singapore. As part of its operating model, Smartworks partners with developers to lease large buildings and transform them into fully managed enterprise campuses.

Smartworks' large fully managed campuses for enterprises, GCCs, and scaling businesses integrate workspace design, technology infrastructure and workplace services to support collaboration, productivity and operational efficiency for large organisations.

Shares of Smartworks Coworking Spaces Limited was last trading in BSE at Rs. 451.35 as compared to the previous close of Rs. 450.10. The total number of shares traded during the day was 1120 in over 43 trades.

The stock hit an intraday high of Rs. 460.25 and intraday low of 448.90. The net turnover during the day was Rs. 511928.00.

Source : Equity Bulls

Keywords

SmartworksCoworkingSpaces INE0NAZ01010 Lease JapaneseNBFC Mumbai