Smartworks Coworking gains on Rs 102 crore rental commitment from UK-based client

Smartworks Coworking Spaces rose 1.30% to Rs 471.75 after expanding its office mandate with the Indian arm of a UK-headquartered professional services firm.

Under the latest expansion, Smartworks has leased more than 930 additional seats to the client at its Pune campus. This increases the client's total occupancy with the company to over 1,730 seats.

The new agreement is for 60 months and is expected to generate committed rental revenue of approximately Rs 58 crore. Combined with the existing engagement, the total expected rental commitment from the client is estimated at around Rs 102 crore.

Smartworks said enterprise customers continue to be its key growth driver. Clients with 300 or more seats contributed around 69% of rental revenue as of 31 March 2026, while multi-city clients accounted for approximately 31% of total revenue. More than 90% of the company's revenue came from enterprise customers.

As of 31 March 2026, Smartworks managed approximately 16.1 million sq. ft. of office space across 66 centres in 15 cities in India and Singapore. The company provides managed office campuses for large enterprises by leasing commercial buildings and offering integrated workspace solutions.

On a consolidated basis, Smartworks Coworking Spaces reported net profit of Rs 16.62 crore in Q4 March 2026 as against net loss of Rs 8.30 crore in Q4 March 2025. Net sales rose 44.99% YoY to Rs 519.68 crore in Q4 March 2026.

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