Enterprise Office Expansions Add ₹235 Crore to Smartworks

Expansion requirements from existing enterprise occupiers have added ₹235 crore in incremental contracted rental revenue to managed workspace operator Smartworks.

The mandates span multiple cities and involve several large organisations, including companies belonging to major global corporate groups.

The contracts have tenures of up to 60 months and build upon approximately ₹5,400 crore of contracted rental revenue already reported as of June 30, 2026.

A key feature of the expansion is that companies are increasing their footprint within managed campuses rather than undertaking the disruption and capital expenditure associated with relocating and fitting out conventional offices.

Some of the expanding occupiers are also developing advanced technology and artificial intelligence capabilities from their India centres.

Enterprise clients contribute approximately 92% of Smartworks’ revenue, demonstrating how the managed-office model has evolved beyond its earlier association primarily with startups and smaller businesses.

Multi-city occupiers account for around 35% of revenue, highlighting another important trend: companies increasingly want workspace partners capable of providing consistent infrastructure across different locations.

Smartworks had approximately 16.9 million sq. ft. of secured space across 70 centres in 15 cities in India and Singapore as of June 30, 2026.

Sandeep Sadh’s Take:

“The ability to expand within the same managed-office network is becoming valuable for growing companies. For commercial landlords too, large managed workspace operators are becoming increasingly important occupiers.”