Smartworks Expands Multi-City Deal To Over 5,000 Seats, Targets ₹155 Crore Rental Revenue

Gurugram: Smartworks is strengthening its enterprise portfolio with a larger multi-city mandate, reflecting rising demand for scalable, managed office solutions among global corporations.

Smartworks has extended its engagement with a Forbes 2000 global client by adding 1,150 seats at its managed campus in Navi Mumbai. This expansion brings the client’s total footprint with the company to over 5,000 seats across Bengaluru, Kolkata, Hyderabad, and Mumbai. The development highlights growing enterprise preference for integrated workspace solutions across multiple locations.

The expanded agreement is expected to generate rental revenue exceeding Rs 155 crore across all locations. This includes a newly signed Mumbai deal valued at Rs 51 crore. The scale of the contract underscores Smartworks’ ability to secure large, long-term mandates from global enterprises, strengthening revenue visibility and reinforcing its enterprise-led business model.

The deal reflects a broader trend of increasing demand for large-format, campus-style office deployments. Smartworks noted that clients with over 1,000 seats contribute approximately 35 percent of its revenue, driven by enterprise and global capability centre demand. Additionally, multi-city clients accounted for around 31 percent of overall revenue in Q3 FY26, indicating a strong shift toward geographically diversified workspace solutions.

As of Q3 FY26, Smartworks had over Rs 4,700 crore in committed rental revenue, highlighting the long-term and stable nature of its contracts. The company operates a large managed office platform spanning approximately 15.3 million square feet across 63 centres in 15 cities, including international presence in Singapore. Its model of leasing and transforming commercial spaces into managed campuses allows enterprises to scale operations efficiently without owning real estate.

Smartworks’ latest deal reinforces its positioning as a leading managed office provider, benefiting from enterprise demand for flexibility, scalability, and integrated workspace solutions across multiple cities.

Disclaimer: This article is based solely on the company’s official press release and includes forward-looking statements regarding revenue expectations and business growth, which are subject to market conditions, execution factors, and regulatory developments.