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Smartworks Coworking Spaces has expanded its enterprise leasing portfolio by signing a managed office agreement for more than 930 seats in Pune with the Indian subsidiary of a UK-based company. The latest transaction adds to the company's growing list of large corporate mandates as demand for flexible workspaces continues to rise. In recent months, Smartworks has secured several large leasing deals across major cities, reflecting increasing interest from multinational companies seeking managed office solutions in India.
Smartworks Coworking Spaces Ltd has leased more than 930 seats at its Pune facility to the Indian subsidiary of a UK-based company, according to a regulatory filing. The company did not disclose the identity of the client or the financial details of the transaction.
The latest agreement further strengthens Smartworks' presence in Pune, one of India's largest office markets, where demand from technology companies, global capability centres (GCCs) and multinational firms continues to support office leasing activity. The deal also reflects the continued preference among large enterprises for managed office spaces that offer ready-to-use workplaces with operational flexibility.
The Pune transaction comes shortly after Smartworks signed several large enterprise leasing agreements across key markets. Over the past few months, the company leased more than 400 seats in Mumbai to the Indian subsidiary of a Japanese non-banking financial company under a long-term managed office agreement. It had also secured a mandate for 1,150 seats at its Navi Mumbai campus for a global company, further expanding its relationship with that client across multiple cities.
Smartworks has been focusing on large enterprise clients by offering customised managed office campuses instead of conventional coworking spaces. The company primarily caters to medium and large organisations looking for scalable office solutions across multiple cities. According to the company's earlier disclosures, enterprise clients contribute the majority of its revenue, with long-term agreements forming a key part of its business model.
The company, which was listed on the stock exchanges last year, has continued expanding its managed workspace portfolio in India and overseas. Alongside its domestic growth, it has also strengthened its international presence through recent expansion initiatives in Singapore.
Source Reuters
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