Smartworks Leases Over 400 Seats to Japanese NBFC Subsidiary in Mumbai
NEW DELHI: Smartworks Coworking Spaces has secured a significant lease agreement, leasing over 400 seats to a Japanese NBFC subsidiary in Mumbai. This five-year lease is expected to generate a rental revenue of ₹35 crore, highlighting the growing demand for premium coworking spaces in the city.
Neetish Sarda, founder and managing director of Smartworks, emphasized the importance of meeting the unique needs of large teams. “Large teams have a very specific set of workplace requirements - they need space that is operationally seamless, consistent across every touchpoint, and built to scale as the organization grows,” he stated.
The company's focus on enterprise clients is evident, with clients holding 300 or more seats accounting for 69 per cent of its rental revenue. These clients have an average tenure of 47 months, underscoring the long-term commitment and satisfaction of Smartworks' clientele. Approximately 90 per cent of the company’s revenue comes from enterprise clients, solidifying its position in the corporate coworking market.
As of March 31, 2026, Smartworks has a robust footprint of 16.1 million square feet, spread across 66 centers in 15 cities in India and Singapore. This extensive network allows Smartworks to cater to a diverse range of businesses, providing them with flexible and modern workspace solutions.
The lease agreement with the Japanese NBFC subsidiary in Mumbai is a testament to Smartworks' ability to attract and retain high-profile clients. It also reflects the growing confidence in the Indian real estate market, particularly in the coworking sector. The company's strategic expansion and focus on operational excellence have positioned it as a leader in the industry, capable of meeting the evolving needs of businesses of all sizes.
Smartworks' success in securing this lease highlights the company's commitment to providing high-quality, scalable coworking solutions. The partnership with the Japanese NBFC subsidiary is expected to further strengthen Smartworks' presence in Mumbai and contribute to the city's vibrant business ecosystem.
In an industry that is rapidly evolving, Smartworks continues to set the standard for coworking spaces, offering a blend of flexibility, innovation, and operational efficiency. With a strong focus on client satisfaction and a robust expansion strategy, the company is well-positioned to capitalize on the growing demand for premium coworking spaces in India and beyond.
