Smartworks Coworking Spaces Ltd has leased 930 seats in Pune to a UK-based professional services firm, locking in ₹58 crore in committed rental revenue over a five-year term. The deal underscores sustained corporate demand for managed office solutions in India’s tier-1 cities.
Smartworks Expands Portfolio with High-Value Pune Lease
The Gurugram-headquartered operator, which transforms bare-shell assets into enterprise-grade campuses, now manages 16.1 million sq ft across 66 centers in 15 cities, including Singapore. The latest engagement reflects its strategy of targeting large, long-term tenants in high-growth markets.
Coworking Demand Surges in India’s Major Cities
Industry data from Colliers India shows coworking operators absorbed a record 8.6 million sq ft of office space across seven major cities in H1 2025—up from 6.5 million sq ft in the same period last year. The spike highlights accelerating adoption of flexible workspaces by multinational and domestic firms alike.
- Leased space in H1 2025: 8.6 million sq ft (vs. 6.5 million sq ft in H1 2024)
- Smartworks’ current portfolio: 16.1 million sq ft across 66 centers
- Pune deal tenure: 60 months with ₹58 crore revenue commitment
The unnamed UK firm’s India subsidiary joins a growing list of enterprises opting for scalable, fully managed offices—a trend analysts link to hybrid work policies and cost-efficiency drives. For investors, the deal signals Smartworks’ ability to monetize premium assets in a competitive market.
