Smartworks wins Rs 305 crore managed office deals as corporate demand stays strong

Reports coming in for today mention that Managed office space firm, Smartworks has signed office leasing agreements with new corporate clients that are anticipated to generate around Rs 305 crore in contracted rental topline over terms of up to 60 months, the firm stated.

The new contracts would take Smartworks’ contracted rental topline to around Rs 5,705 crore, based on its noted contracted rental topline of Rs 5,400 crore as of June 30, 2026.

The latest contracts span multiple cities and include clients from technology, research and consulting, healthcare, sportswear and lifestyle sectors.

The firm did not disclose the names of the clients or the individual value of the contracts.

The announcement comes shortly after Smartworks disclosed around Rs 235 crore in additional contracted rental topline from expansions by existing clients. Together, the two sets of deals represent around Rs 540 crore of incremental contracted rental topline.

Smartworks stated it has more than 760 clients, with large corporates accounting for around 92 percent of its topline. The firm stated it has additionally secured an expansion pipeline in prime locations for FY27 and FY28, with some capacity locked for FY29.

The managed office operator typically takes long-term leases for large office campuses in business districts and provides fitted workspace to corporate occupiers.

The latest deals come as firms increasingly use flexible and managed office formats for expansion, particularly when they want to add capacity without taking on the upfront cost and operational requirements associated with setting up conventional offices.

Neetish Sarda, founder and managing director, Smartworks, stated firms expanding into new markets are seeking speed and flexibility in workplace deployment, which is driving demand for managed offices.

Smartworks’ latest contracts represent contracted rental topline over the lease period and not annual topline or cash received upfront, with the duration of individual agreements extending up to five years.