Smartworks‍‌‍‍‌‍‌‍‍‌ Leases 1.68 Lakh Sq Ft in Kolkata to Wipro; Space Lease Deal Announced

December 5, 2025: Smartworks has finalised a major lease agreement, offering nearly 1.68 lakh sq ft of office space across two of its Kolkata campuses to Wipro. The development underscores the rising demand for managed and flexible workspaces in India’s top metro cities and strengthens Smartworks’ position in the enterprise-grade real-estate segment.

Why The Deal Matters

This lease to Wipro, one of the top worldwide service providers in IT – implies that Smartworks now has one of the most important tenants who can help them increase their occupancy level and thus, probably, their rental income. As Wipro is a large and stable corporate, this relationship could serve as a platform for Smartworks to amplify client diversification strategy carrying less risk and with more solid enterprise-grade contract instead of a mixture of small and mid-size tenants only.

For Wipro, the flexible workspace model offers an efficient way to expand operations while retaining the option to scale up or down as business requirements evolve. Smartworks’ managed campuses provide ready infrastructure, simplifying real-estate decisions without the rigidity of long-term ownership or traditional leases.

Expected Impact on Smartworks’ Financials and Market Position

The agreement should lead to Smartworks benefiting from regular rental income over the next few months and hence, an improved short-term cash flow. It also reinforces confidence in the viability of Smartworks’ business model of managed and flexible office spaces at a time when many companies are rethinking office-space strategies, especially post the pandemic period.

With Wipro as a marquee client, Smartworks may be able to improve overall occupancy rates and negotiate better pricing in future agreements, given the enhanced credibility the deal brings.

Stock Performance

Despite the news of the deal the share price of Smartworks co-working spaces was trading in red today. The share opened at ₹453.50 in Friday’s trading session and closed down 1.02% at ₹447.95.

What to Watch Going Forward

Key indicators to watch include occupancy trends across Smartworks’ portfolio, details of lease terms (such as tenure and rental escalation), and further large enterprise additions. Broader demand for office spaces in major Indian cities, along with the adoption of hybrid and flexible working models, will also shape the company’s growth trajectory.

From a financial standpoint, upcoming quarterly numbers will be critical — especially rental income growth, occupancy ratios, and cash-flow improvements. Renewals, new leases, or any defaults across the sector may additionally signal how well flexible workspaces are performing in the evolving market environment.

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations