Smartworks Coworking Spaces Ltd has added Rs 235 crore [1] of incremental contracted rental revenue to its existing portfolio.
This growth indicates a shift toward deepening relationships with high-value corporate clients rather than focusing on new customer acquisition. By leveraging existing mandates, the company aims to increase margins while reducing the costs associated with onboarding new tenants.
Co-founder Harsh Binani said the Rs 235 crore [1] is in addition to the company's existing contracts totaling Rs 5,400 crore [2]. This incremental revenue will be realized over the next five years [3].
Binani said the revenue is not from new customers but from existing clients [4]. The growth stems from expansion mandates from Fortune 500 and Forbes 2000 companies already utilizing Smartworks spaces across India.
This announcement comes amid a period of financial growth for the firm. For the quarter ended June 30, 2026, the company reported revenue of Rs 546 crore [5] and a net profit of Rs 13 crore [6]. Total revenue for the 2025-26 fiscal year reached Rs 1,850 crore [7].
Binani said the company will continue to expand its margin while passing on benefits to its customers [8]. The strategy focuses on the scale of existing partnerships to ensure a stable revenue stream over the long term.
“"235 cr is in addition to our 5,400 cr existing contracts"”
Smartworks is pivoting toward a 'land and expand' strategy, prioritizing the growth of existing accounts over the volatile process of acquiring new ones. By securing long-term commitments from globally recognized firms, the company creates a predictable revenue floor and improves operational efficiency. This approach suggests a maturing coworking market in India where stability and scale with corporate giants are more valuable than rapid, fragmented growth.
