News: Smartworks Takes Forbes 2000 Client Past 5,000 Seats-07-04-2026
A Forbes 2000 company that leads globally in digital business services and CX management has taken 1,150 more seats at Tata Intellion Park, a managed campus of Smartworks Coworking Spaces Limited, the operator said in a statement. The client’s total with Smartworks now exceeds 5,000 seats across Bengaluru, Kolkata, Hyderabad and Mumbai. Rental revenue expected from the four sites tops Rs 155 crore, including Rs 51 crore from the new Mumbai deal.
Founder and managing director Neetish Sarda said large enterprises increasingly value consistency, scalability and speed of execution, which integrated multi-city workspaces deliver, and that the expansion reflects the firm’s ability to build lasting ties with global clients. The statement said the deal fits a trend of big occupiers choosing campus-style, multi-city managed office partnerships as demand for flexible, scalable space grows.
Clients with 1,000+ seats bring in approximately 35% of revenue, led by enterprise and GCC demand, and multi-city clients contributed about 31% in Q3 FY26, when committed rental revenue pipeline stood above Rs 4,700 crore.
Smartworks leases large commercial buildings and converts them into managed enterprise campuses, running design, delivery, technology and daily operations so occupiers can scale without owning property. Last year it leased approximately 1.68 lakh sq ft in Kolkata to a global provider of IT, consulting and business process services, spread over its Victoria Park and Mediasiti campuses in Salt Lake City, Sector V, with JLL India advising, per a December 4 regulatory filing.
Knight Frank India’s Flex Space Occupier Intelligence report shows flex transaction volumes in the top eight cities rising from 2.2 mn sq ft in 2017 to 18.6 mn sq ft in 2025, an 8.4-fold gain or 30% CAGR against 9% for offices overall, lifting penetration from 5% to 21%. Bengaluru is the biggest flex market, leading absorption since 2018 and peaking at 5.3 mn sq ft in 2025. MMR logged its best-ever 2.7 mn sq ft with 28% penetration.
