Smartworks Coworking Spaces Limited (SMARTWORKS)
Press Release - "Smartworks Expands L&T Technology Services Engagement with 1,100+ Seats in Pune"
Smartworks expands L&T Technology Services engagement by adding 1,100+ seats in Pune.
- LTTS's total managed seats with Smartworks now exceed 2,750 across multiple cities.
- Combined expected rental revenue from these locations is ~INR 115 Cr, including ~INR 55 Cr from Pune expansion.
- Pune lease tenure is 60 months.
- Clients with over 1,000 seats contribute ~37% of Smartworks' rental revenue.
- Enterprise clients account for ~90% of total revenue, reinforcing Smartworks' leadership in large-format managed offices.
Source: Original filing PDF
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Revenue: ₹2,35,800 Cr (+12% YoY)
PAT: ₹19,200 Cr (+17% YoY)
EBITDA margin: 16.8%
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