Key Highlights
- LTTS expanded its managed office portfolio with Smartworks by adding over 1,100 seats in Pune.
- The total managed office footprint for LTTS with Smartworks has increased to more than 2,750 seats across multiple cities.
- The combined expected rental revenue from the expanded locations is estimated at approximately ₹115 crore.
- The Pune expansion is expected to contribute around ₹55 crore in rental revenue over a 60-month tenure.
- Clients with more than 1,000 seats contribute nearly 37% of Smartworks’ total rental revenue.
- Enterprise clients account for around 90% of the company’s total rental revenue.
Smartworks Coworking Spaces Limited has expanded its long-standing engagement with L&T Technology Services (LTTS) by adding more than 1,100 managed office seats in Pune. The expansion increases LTTS’ managed office portfolio with Smartworks to over 2,750 seats across multiple cities, according to the company’s exchange filing dated July 20, 2026.
The company said the latest addition strengthens its presence in the enterprise managed workspace segment while supporting LTTS’ growing requirements in artificial intelligence (AI), digital engineering, and engineering research and development (ER&D) services.
Smartworks stated that the combined expected rental revenue from the expanded locations is estimated at approximately ₹115 crore. Of this, the Pune expansion is expected to contribute nearly ₹55 crore over a tenure of 60 months.
According to the company, the enlarged engagement reflects the continued growth of its multi-city relationship with LTTS and reinforces Smartworks’ focus on serving large enterprise clients with customized managed office solutions.
The company also noted that clients occupying more than 1,000 seats contribute around 37% of its total rental revenue. Enterprise customers, in turn, account for nearly 90% of the company’s overall rental revenue, highlighting the significance of large-format workspace contracts in its business model.
Smartworks said the expansion aligns with its strategy of strengthening its position in the enterprise office segment by offering scalable workspaces designed for large organizations.
As of March 31, 2026, Smartworks managed approximately 16.1 million square feet of office space across 66 centres in 15 cities spanning India and Singapore. The company serves more than 770 clients, including Fortune 500 companies, Global Capability Centres (GCCs), small and medium enterprises (SMEs), and new-age businesses.
Smartworks was listed on the National Stock Exchange (NSE) and BSE on July 17, 2025.
