Smartworks Leases 400+ Seats To Japanese NBFC Subsidiary; Shares Rise Nearly 2%

Mumbai, June 8: Smartworks Coworking Spaces said it has leased more than 400 seats to a Japanese NBFC subsidiary in Mumbai under a five-year managed workspace agreement.

The engagement is expected to generate rental revenue exceeding ₹35 crore over the contract tenure, according to company’s press release on Monday.

The company said the transaction aligns with its strategy of strengthening its position in the large-format enterprise workspace segment.

Smartworks added that clients with over 300 seats currently contribute around 69% of its rental revenue, with the average client relationship lasting nearly 47 months.

Enterprise Segment Continues To Drive Revenue

Founder and Managing Director Neetish Sarda said enterprise clients increasingly require operationally integrated and scalable workspaces across multiple locations.

The company stated that nearly 90% of its revenue currently comes from enterprise customers, reflecting sustained demand for managed office infrastructure from large organisations and global capability centres.

As of March 31, 2026, Smartworks managed approximately 16.1 million square feet across 66 centres in 15 cities across India and Singapore.

The company said its platform integrates workspace design, technology infrastructure and operational services for enterprises, GCCs and scaling businesses.

Stock Market Snapshot

Smartworks share price traded higher following the announcement.

The stock traded at ₹461.90 on the NSE, up 1.94% or ₹8.80 as of 11:55 AM IST on June 8, 2026, according to market data.

The gains reflected investor interest in enterprise-focused commercial workspace operators amid continuing demand for managed office solutions and flexible workspace infrastructure.

Source:

• https://www.nseindia.com/get-quote/equity/SMARTWORKS/Smartworks-Coworking-Spaces-Limited
• https://nsearchives.nseindia.com/corporate/SMARTWORKS_08062026105547_Intimation__Press_Release_snd__1_.pdf