NSEUpdates24 Aug 2026 · 24 Aug 2026, 07:42 am
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Smartworks Coworking Spaces Limited · SMARTWORKS
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Smartworks Coworking Spaces Limited has announced an incremental contracted rental revenue of ~INR 235 Crore driven by enterprise expansions, including Fortune 500 and Forbes 2000 companies.
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Growth Catalyst9/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk4/10
Liquidity Impact9/10
Market Sentiment9/10
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Smartworks Coworking Spaces Limited has informed the Exchange regarding 'Smartworks Announces INR 235 Crore in Incremental Contracted Rental Revenue Driven by Enterprise Expansions'.
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Date: 24th August 2026
To, To,
National Stock Exchange of India Limited BSE Limited (“BSE”)
(“NSE”) Listing Department
Listing Department Corporate Relationship Department
Exchange Plaza, C-1 Block G, Bandra Kurla Phiroze Jeejeebhoy Towers,
Complex Bandra [E], Mumbai – 400051 Dalal Street, Fort, Mumbai - 400 001
NSE Scrip Symbol: SMARTWORKS BSE Scrip Code: 544447
ISIN: INE0NAZ01010 ISIN: INE0NAZ01010
Sub: Press Release – “Smartworks Announces ~INR 235 Crore in Incremental Contracted Rental Revenue
Driven by Enterprise Expansions”
Dear Sir/ Madam,
Pursuant to the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“SEBI LODR”), we are enclosing herewith a Press Release titled “ Smartworks Announces
~INR 235 Crore in Incremental Contracted Rental Revenue Driven by Enterprise Expansions”. The contents
of the Press Release cover full details.
The said Press Release is also available on the website of the Company at
https://www.smartworksoffice.com/investors/.
This is for information and records.
For Smartworks Coworking Spaces Limited
Punam Dargar
Company Secretary & Compliance Officer
Mem. No.: A56987
Address: Unit No. 305-310, Plot No 9, 10 & 11 Vardhman Trade Centre
Nehru Place, South Delhi-110019
Encl.: As above
Smartworks Coworking Spaces Limited
(Formerly known as Smartworks Coworking Spaces Private Limited)
Regd. Office: Unit No. 305 – 310, Plot No. 9,10, & 11, Vardhman Trade Centre, Nehru Place, South Delhi – 110 019.
Corporate Office: DLF Commercial Building, Block - 3, Zone-6, DLF Phase – 5, Gurugram, Haryana-122002
Phone No: 0124-6919 400
CIN: L74900DL2015PLC310656
Smartworks Announces ~INR 235 Crore in Incremental Contracted Rental Revenue
Driven by Enterprise Expansions
• This revenue builds on the Company's ~INR 5,400 crore contracted rental revenue as of June 30,
2026
• Expansion mandates include Fortune 500, Forbes 2000 companies and Large Indian
Conglomerates
Gurugram, India, 24 August 2026: Smartworks Coworking Spaces Limited ("Smartworks" or "the
Company"), India's largest managed office platform by overall footprint, has added ~INR 235 crore of
incremental contracted rental revenue through expansion mandates from existing clients including Fortune
500 and Forbes 2000 companies, across multiple cities. The value reflects leasing rental revenue with
engagement tenures of up to 60 months and builds on the Company's ~INR 5,400 crore contracted rental
revenue base disclosed as of June 30, 2026.
Commenting on the development, Neetish Sarda, Founder and Managing Director, Smartworks,
said: "The strongest validation of any platform is when existing clients choose to grow with it. Our large,
fully managed campuses are built for scale, so businesses can expand seamlessly within the same campus,
without the disruption of relocating, refitting or searching for space across the city. That is a decisive
advantage for organisations growing at pace. An expansion of this scale, which includes large multinational
corporations including Fortune 500 and Forbes 2000 companies, deepening commitments they have
already made, reflects the trust and stickiness our model creates. Large organisations today want more
than office space. They want prime locations, quality infrastructure, a strong employee ecosystem and the
room to scale on demand, and that is exactly what our managed campuses deliver.”
The clients include a global leader in engineering and technology services - a subsidiary of a Fortune India
500 company, the India IT services arm of a Forbes 2000 company, and a Fortune 500 global infrastructure
consulting firm among others. Several are building advanced technology and AI capabilities out of their
India centres.
The expansions come against the backdrop of a structural shift in India's office market. As India strengthens
its position as a strategic execution hub for global enterprises, demand for flexible, fully managed
workspaces continues to rise. At the same time, enterprises are increasingly consolidating workplace
requirements with scaled operators that can deliver consistent infrastructure, service standards, and
operational efficiency across locations.
~92% of Smartworks’ revenue is derived from enterprise clients, underscoring its position as a platform of
choice for large organisations seeking managed, scalable workspace solutions. ~35% of the Company’s
revenue comes from multi-city clients, reflecting its growing role as a preferred workspace and infrastructure
partner for enterprises across geographies. The Company has also secured its expansion pipeline in prime
locations for FY27 and FY28, and partially for FY29, with capacity locked well ahead of demand, positioning
it stronger to serve clients across its markets.
Smartworks strategically secures long-term leases for large, full campuses in prime business locations
across high-demand cities. Beyond office space, its campuses offer cafeterias, convenience stores, gyms,
recreation zones, crèches and round-the-clock support, so companies and their employees have everything
they need in one place. As of June 30, 2026, Smartworks had a total secured footprint of ~16.9 million sq.
ft. across 70 centres in 15 cities in India and Singapore.
About Smartworks Coworking Spaces Limited
Smartworks is India’s largest managed office platform by overall footprint, with ~16.9 million square
feet across 70 centres in 15 cities across India and Singapore, as of June 30, 2026. The Company partners
with real estate developers to transform large, bare-shell assets into fully managed, enterprise-grade
campuses. Smartworks primarily serves mid-to-large enterprises and counts 760+ clients, including Fortune
500 and Forbes 2000 companies, MNCs, leading Indian conglomerates and unicorns. The Company also
offers SmartVantage, a GCC-focused solution combining scalable campuses with a curated ecosystem of
partners across legal, compliance, talent, and operational support, enabling rapid and compliant expansion
in India. Smartworks listed on NSE and BSE on 17 July 2025.
Safe Harbour Statement
This press release (the “Release”), prepared by Smartworks Coworking Spaces Limited (the “Company”),
is furnished solely for informational purposes and shall not constitute, or be relied upon in connection with,
any offer, solicitation, or invitation to subscribe for or purchase any securities of the Company. No securities
of the Company will be offered except by means of a statutory offering document that contains detailed
information about the Company. The information and data contained herein have been compiled from
sources the Company believes to be reliable; however, the Company makes no representation or warranty,
express or implied, as to the accuracy, completeness, or fairness of such information. This Release is not
intended to be all-inclusive, and readers should not rely solely on the information contained herein. The
Company expressly disclaims any liability for any loss arising from, or in reliance upon, the whole or any
part of the contents of this Release. This Release may include forward-looking statements regarding,
among other things, the Company’s financial performance, growth prospects, strategy, and market
opportunities. These statements involve known and unknown risks, uncertainties, and other factors such
as macro-economic conditions, competitive pressures, regulatory changes, technological developments,
and execution challenges that could cause actual results, performance, or achievements to differ materially
from those expressed or implied herein. The Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future events, or otherwise, except as
required by applicable law. Any forward-looking statements or projections attributed to third parties
contained in this Release are not endorsed by the Company, which accepts no responsibility for such third-
party information.
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