Business Update8 Jun 2026, 10:53 am
Smartworks Leases 400+ Seats in Mumbai for ₹35 Cr
AI Summary
Smartworks Coworking Spaces Ltd has leased over 400 seats to a Japanese NBFC subsidiary in Mumbai. This five-year agreement is projected to generate approximately INR 35 Crore in rental revenue. The deal highlights Smartworks' strength in the large-format enterprise segment, where clients with 300+ seats contribute significantly to revenue. As of March 31, 2026, Smartworks manages 16.1 million sq. ft. across 66 centers in India and Singapore, focusing on transforming large properties into managed campuses for enterprises.
Key Highlights
- Leased over 400 seats to a Japanese NBFC subsidiary in Mumbai.
- Five-year agreement expected to generate ~INR 35 Crore in rental revenue.
- Reinforces Smartworks' focus and success in the large-format enterprise segment.
- Enterprise clients account for ~69% of rental revenue.
- Company manages 16.1 million sq. ft. across 66 centers.
Price Impact
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