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Smartworks Coworking Spaces Limited has crossed 10 million sq ft of operational workspace, becoming the first listed flexible office provider in India to reach this scale. The milestone follows the launch of its centre at Tata Intellion Park, Mumbai, where a Forbes 2000 company has recently been onboarded. The company reported revenue of around INR 472 crore in Q3 FY26, reflecting a 34% year-on-year increase, with mature centres operating at approximately 93% occupancy. With a total managed portfolio of about 15.3 million sq ft across 63 centres in 15 cities, Smartworks continues to see demand from large enterprises and Global Capability Centres, driven by multi-city expansion needs and long-term workspace commitments.
Smartworks Coworking Spaces Limited has crossed 10 million sq ft of operational workspace portfolio, becoming the first listed flexible workspace provider in India to achieve this scale. The milestone was reached following the operationalisation of its centre at Tata Intellion Park in Mumbai, marking a further expansion of its enterprise-focused managed office platform. Advertisement
The Gurugram-based company stated that the new Mumbai centre has already attracted a Forbes 2000 company, indicating continued demand from large corporates. The expansion comes amid a broader shift in India’s office market, where enterprises are increasingly opting for managed, campus-led workspace solutions offering scalability and operational consistency.
Founder and Managing Director Neetish Sarda indicated that the milestone reflects a structural change in office space demand, with enterprises moving towards integrated workspace solutions that provide long-term visibility and standardised delivery across multiple locations. He added that the company has evolved into a national-scale workspace infrastructure platform, enabling enterprises and Global Capability Centres (GCCs) to expand across cities without directly managing real estate operations.
Smartworks’ growth has been supported by rising adoption among large enterprises and GCCs, with demand shifting towards larger office campuses, multi-city deployments and longer tenure commitments. The company’s leasing model involves taking up entire buildings from developers and converting them into fully managed office campuses, allowing clients to scale operations through a plug-and-play format.
The company’s financial performance reflects this demand trend. In the third quarter of FY26, Smartworks reported revenue of approximately INR 472 crore, registering a year-on-year growth of around 34%. Mature centres within its portfolio recorded committed occupancy levels of about 93%, indicating stable utilisation across operational assets. The company noted that this level of scale and occupancy supports improving revenue visibility and operational stability.
As of the end of the recent reporting period, Smartworks had a total footprint of approximately 15.3 million sq ft under management, spanning 63 centres across 15 cities in India and Singapore. The platform serves over 770 clients, including Forbes 2000 companies, multinational corporations, GCCs and high-growth enterprises.
The company has also introduced SmartVantage, a solution tailored for GCCs, combining managed workspace infrastructure with a partner ecosystem to facilitate expansion in India. This offering is designed to support enterprises in setting up compliant and scalable operations across multiple locations.
The expansion of Smartworks’ operational portfolio highlights the growing institutionalisation of the flexible workspace segment in India, with enterprise-led demand continuing to drive absorption in managed office formats.
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