Smartworks Coworking Spaces gained 2.26% to Rs 534.55 after the company announced that it had secured Rs 235 crore in incremental contracted rental revenue through expansion mandates from existing clients across multiple cities.
The new mandates include a global engineering and technology services leader that operates as 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 of these clients are developing advanced technology and artificial intelligence capabilities at their India centres.
The contracted value represents leasing rental revenue from engagements with tenures of up to 60 months. The addition also builds on Smartworks’ contracted rental revenue base of Rs 5,400 crore as of 30 June 2026.
Neetish Sarda, founder and managing director of 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 a 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.”
Smartworks Coworking Spaces operates managed office campuses for large enterprises. The company leases commercial buildings and provides integrated workspace solutions to businesses.
As of 30 June 2026, Smartworks managed approximately 16.9 million square feet of office space across 70 centres in 15 cities in India and Singapore. Its managed-campus model allows existing clients to expand within the same locations as their space requirements increase.
The company’s financial performance also improved in the June 2026 quarter. Smartworks reported a consolidated net profit of Rs 13.15 crore in Q1 FY27, compared with a net loss of Rs 4.20 crore in the quarter ended June 2025.
Meanwhile, sales climbed 44.05% to Rs 546.25 crore in Q1 FY27 from the corresponding quarter of the previous fiscal year. The latest client expansion mandates, together with the company’s growing contracted rental revenue base and improved quarterly performance, highlight continued demand for flexible and fully managed workspace solutions from large enterprises.
