Smartworks Leases 400+ Seats In Mumbai Το Japanese Nbfc's India Arm
Managed workspace provider Smartworks Coworking Spaces Limited has expanded its enterprise client base by leasing more than 400 seats at its Mumbai facility to the Indian subsidiary of a leading Japanese Non-Banking Financial Company (NBFC). The five-year managed office agreement is expected to generate approximately ₹35 crore in rental revenue, reinforcing the company's leadership in India's fast-growing flexible workspace market.
The latest transaction highlights the increasing preference among multinational financial institutions for fully managed office campuses that offer scalability, operational efficiency, and premium workplace amenities. As businesses continue to embrace hybrid work models, enterprise-grade managed office solutions have emerged as a preferred alternative to conventional commercial leasing.
According to the company, the long-term engagement aligns with its strategy of serving large corporate occupiers requiring integrated office infrastructure across key business hubs. Smartworks noted that clients occupying more than 300 seats contribute nearly 69% of its rental revenue, while enterprise customers account for almost 90% of its overall business, reflecting the company's strong focus on large-scale organizations.
Commenting on the development, Neetish Sarda, Founder and Managing Director of Smartworks, said that large enterprises require workplaces that are operationally seamless, consistent, and capable of scaling alongside business growth. He emphasized that the company's managed campus model is specifically designed to meet these evolving corporate requirements.