Smartworks Becomes First Listed Indian Flex Space Provider to Surpass 10 Million Sq. Ft. Operational Milestone
Gurugram, April 21, 2026: Smartworks Coworking Spaces Limited has crossed the 10 million sq. ft. mark in its operational portfolio, cementing its status as India’s largest managed office platform by area under management. This achievement distinguishes Smartworks as the first listed flexible workspace provider in the country to reach such a scale, marking a significant evolution in the national real estate landscape, the company said in a press statement.
The milestone was finalized following the operationalization of the Tata Intellion Park center in Mumbai. The company recently announced the addition of a Forbes 2000 company at this new facility and reports continued healthy traction across its locations. The growth is largely attributed to the increasing adoption of managed workspaces by large enterprises and Global Capability Centres (GCCs), who are increasingly seeking multi-city deployments and long-term commitments.
Financially, the company’s performance mirrors this physical expansion. In Q3 FY26, Smartworks reported revenue of approximately ₹472 crore, representing a 34% year-on-year increase. Its mature centers are currently operating at roughly 93% committed occupancy, a figure that indicates strong market demand and portfolio stability. With this current scale and maturity, the company has transitioned into a phase of cash compounding.
Reflecting on the achievement, Neetish Sarda, Founder and Managing Director of Smartworks, noted the changing dynamics of the sector. “This milestone reflects the structural shift underway in India’s office market, where enterprise demand is moving towards managed, campus-led solutions that offer scale, consistency, and long-term visibility,” Sarda said.
“Over the years, Smartworks has evolved into a national-scale enterprise workspace infrastructure platform. As an infrastructure partner to enterprises and GCCs, we enable multi-city expansion with standardised delivery, predictable execution, and consistency of experience. Achieving this level of operational scale is about the quality of growth anchored in long-tenure enterprise relationships, strong occupancy, and increasing revenue visibility – positioning the business for sustained, compounding growth,” Sarda added.
Smartworks’ business model focuses on leasing entire buildings and converting them into fully managed campuses. This strategy allows a diverse clientele—including Forbes 2000 companies and scaling businesses—to expand across various cities without the burden of direct real estate management. As the demand for experience-led and flexible environments persists, the company’s reinforced position as a national-scale infrastructure partner aligns with the broader movement toward decentralized and managed corporate office solutions.
