Smartworks Coworking Spaces Limited, India’s largest managed office platform by total area under management, has leased around 1.68 lakh sq ft of office space in Kolkata to a global information technology, consulting, and business process services provider. The company announced the transaction in a regulatory filing on December 4.
The new office for the IT major will be spread across two Smartworks campuses — Victoria Park and Mediasiti, both located in Salt Lake City, Sector V, which is Kolkata’s most prominent commercial micro-market. The transaction was facilitated by JLL India, acting as the advisory partner.
Smartworks is handling a 14 million sq ft real estate portfolio that is scattered across 61 centres in 14 cities of India and Singapore.
Commenting on the transaction, Neetish Sarda, Founder and Managing Director of Smartworks, said, “Enterprise adoption of managed campuses has entered a decisive phase. Large organisations are scaling faster and leaning toward workspace models that offer predictability, depth, and seamless expansion. With flex contributing a growing share of India’s office absorption, our focus remains on building integrated campuses that can support this momentum with consistency across markets.”
The agreement highlights a definite movement that big companies are opting for managed office campuses rather than conventional leased offices. The main reasons for this choice are scalability, operational flexibility, and speed to market. Large users in such markets as Bengaluru, Hyderabad, Pune, and now Kolkata are rapidly increasing their portfolio of offices by means of plug-and-play office solutions which give them the freedom to expand their staff in a short time without making any long-term capital investments.
For a major part, Sector-V Salt Lake has been the IT corridor of Kolkata housing Indian technology companies, trendy digital businesses and global capability centres. The signing of this new lease for 1.68 lakh sq ft merely reaffirms the ongoing demand of the enterprises that are on the lookout for high-quality office spaces with all the modern-day amenities in the business districts which are well-connected by transport.
Smartworks’ campuses are completely integrated and therefore, besides tech-enabled workspaces, cafeterias, fitness centres, and sports zones also include medical rooms, collaboration areas and many other facilities which are designed to be of help to both the productivity of enterprises and the experience of the employees.
Smartworks with a coverage of 14 million sq ft till date, is catering to the diverse clients which include GCCs, Fortune/Forbes 2000 companies, multinationals, and Indian enterprises spreading across the country. Significantly, the company has experienced an increase in large seat requirements: the 1,000+ seat category now accounts for about 35% of its rental revenue thus, indicating long-term enterprise stickiness rather than short-term flex usage.
The firm credits its expansion to the staff retention at seats, longer client tenures, and the transition to managed campuses as a workspace solution being chosen strategically rather than as a show of temporariness. As corporate occupiers consolidate real estate portfolios post-pandemic and adopt hybrid-friendly work models, the need for large, customized, tech-ready office campuses is going to increase further.
Smartworks partners with developers to convert large bare-shell assets into fully managed, branded workplaces. These integrated campuses are equipped with cafeterias, gyms, sports areas, crèches, medical centres, and convenience retail, allowing enterprises to operate without additional infrastructure investments.
The lease in Kolkata marks another milestone in Smartworks’ expansion strategy, HIHJLIGHTING the growing preference among large organisations for scalable, predictable, experience-led workspaces in India’s top commercial hubs.
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