Managed Office Demand Drives ₹235 Crore Smartworks Expansion

Demand for managed office space from large companies continues to grow, with Smartworks securing ₹235 crore in incremental contracted rental revenue through expansions by existing clients.

The additional workspace requirements are spread across multiple cities and involve major enterprise occupiers.

The contracts have engagement periods of up to 60 months and add to the company’s existing contracted rental revenue base of around ₹5,400 crore as of June 30, 2026.

The numbers point towards an important change in India’s commercial property market.

Managed workplaces are increasingly being used by established corporations that require the ability to expand quickly without taking on the complete process of finding, fitting out and operating additional conventional offices.

Around 92% of Smartworks’ revenue comes from enterprise clients, while approximately 35% is generated by companies using its facilities across multiple cities.

The company had secured approximately 16.9 million sq. ft. across 70 centres in 15 cities in India and Singapore as of June 30.

Its managed campuses typically combine office infrastructure with supporting facilities such as cafeterias, gyms and recreation areas, allowing companies to accommodate larger employee populations within integrated workplace environments.

Sandeep Sadh’s Take:

“The commercial office market is changing from simply leasing square footage to providing complete workplace infrastructure. Companies increasingly value speed, flexibility and the ability to scale when choosing office space.”