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What is the story about?
Smartworks Coworking Spaces Limited
has signed a lease for 1.66 lakh sq ft with Wolters Kluwer (India) Pvt. Ltd. at its Marisoft campus in Pune’s Kalyani Nagar, further consolidating its push toward large enterprise clients—now the biggest driver of its revenue streams.
The Netherlands-headquartered Wolters Kluwer, a global provider of information, software and professional solutions, will occupy a fully serviced managed workspace designed under Smartworks’ campus-led model. The Marisoft campus is among Pune’s established commercial micro-markets, offering strong connectivity, access to talent and a full suite of amenities including collaboration areas, recreation zones, meeting facilities and wellness services.
For Smartworks, the deal reinforces a structural shift in its revenue profile. The company has seen a sharp increase in demand from 1,000+ seat clients, who accounted for about 12% of rental revenue three years ago but now contribute nearly 35%. The company attributes this to enterprises consolidating operations, seeking unified experiences across cities and preferring large-format, plug-and-play campuses over fragmented traditional leases.
“Our priority remains delivering unified, tech-enabled campuses that support large teams and multi-city expansion. Enterprises today need scale, speed and consistency, and our campuses are designed around these needs,” said Neetish Sarda, Founder and Managing Director, Smartworks.
The managed campus model has created multi-city revenue stability for Smartworks, with over 30% of rental revenue now coming from enterprises operating across multiple locations. This diversified revenue base reduces dependence on single-city demand cycles and improves long-term revenue visibility—an important metric in the flexible workspace sector.
The lease signing comes on the heels of Smartworks’ Q2 FY26 results, which highlight a strengthening financial position. The company posted ₹4,248 million in revenue, a 21% year-on-year increase, driven by higher occupancy, enterprise scaling and expansion across key office markets. Normalised EBITDA rose 46% YoY, supported by operating efficiencies and improved yield on large campuses, while EBITDA margin stood at a healthy 16.4%. The firm also turned net-debt negative, backed by ₹614 million in operating cash flows, signalling improved balance sheet strength.
With a ~12.7 million sq ft portfolio across 14 cities and a 760+ client base comprising GCCs, multinationals and Indian enterprises, Smartworks is positioning itself as a long-term campus solutions partner for corporates seeking flexible yet enterprise-grade workspace infrastructure.
The Netherlands-headquartered Wolters Kluwer, a global provider of information, software and professional solutions, will occupy a fully serviced managed workspace designed under Smartworks’ campus-led model. The Marisoft campus is among Pune’s established commercial micro-markets, offering strong connectivity, access to talent and a full suite of amenities including collaboration areas, recreation zones, meeting facilities and wellness services.
For Smartworks, the deal reinforces a structural shift in its revenue profile. The company has seen a sharp increase in demand from 1,000+ seat clients, who accounted for about 12% of rental revenue three years ago but now contribute nearly 35%. The company attributes this to enterprises consolidating operations, seeking unified experiences across cities and preferring large-format, plug-and-play campuses over fragmented traditional leases.
“Our priority remains delivering unified, tech-enabled campuses that support large teams and multi-city expansion. Enterprises today need scale, speed and consistency, and our campuses are designed around these needs,” said Neetish Sarda, Founder and Managing Director, Smartworks.
The managed campus model has created multi-city revenue stability for Smartworks, with over 30% of rental revenue now coming from enterprises operating across multiple locations. This diversified revenue base reduces dependence on single-city demand cycles and improves long-term revenue visibility—an important metric in the flexible workspace sector.
The lease signing comes on the heels of Smartworks’ Q2 FY26 results, which highlight a strengthening financial position. The company posted ₹4,248 million in revenue, a 21% year-on-year increase, driven by higher occupancy, enterprise scaling and expansion across key office markets. Normalised EBITDA rose 46% YoY, supported by operating efficiencies and improved yield on large campuses, while EBITDA margin stood at a healthy 16.4%. The firm also turned net-debt negative, backed by ₹614 million in operating cash flows, signalling improved balance sheet strength.
With a ~12.7 million sq ft portfolio across 14 cities and a 760+ client base comprising GCCs, multinationals and Indian enterprises, Smartworks is positioning itself as a long-term campus solutions partner for corporates seeking flexible yet enterprise-grade workspace infrastructure.
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