Smartworks Coworking Spaces has expanded its long-standing partnership with L&T Technology Services (LTTS) by adding over 1,100 new seats in Pune. This brings the total managed office portfolio for LTTS with Smartworks to over 2,750 seats across multiple cities. Key Deal Highlights: New Capacity: 1,100+ seats in Pune. Financials: The Pune expansion is expected to generate ~INR 55 Crore in rental revenue over a 60-month (5-year) tenure. The combined LTTS portfolio will yield ~INR 115 Crore. Strategic Impact: Enterprise Dominance: This win reinforces Smartworks' strong positioning in the large-format enterprise segment. Clients with over 1,000 seats already contribute ~37% of the company's total rental revenue, while enterprise clients overall drive ~90% of total revenue. Revenue Visibility: The 5-year lease tenure provides strong, predictable, annuity-style cash flows. Company Scale: As of March 31, 2026, Smartworks manages ~16.1 million sq. ft. across 66 centers in 15 cities (including India and Singapore), serving 770+ clients, notably Fortune 500 companies, Forbes 2000 names, and Global Capability Centers (GCCs). Outlook: This expansion underscores the growing corporate demand for flexible, managed workspace solutions that offer operational agility. It further solidifies Smartworks' status as the platform of choice for large enterprises scaling their workforce across multiple geographies. $SMARTWORKS

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