Smartworks leases around 1.66 lakh sq ft office space to Wolters Kluwer in Pune – this headline marks not just a major transaction in the commercial real estate world, but also a strategic inflection point for Smartworks’ enterprise-driven growth model. The managed workspace provider is doubling down on its large-format, campus-led vision, and its recent lease with Wolters Kluwer (India) Pvt. Ltd. underscores that ambition. In this blog, we’ll dive deep into what this deal means for Smartworks, for Wolters Kluwer, and for Pune’s commercial real estate landscape — with a special nod to Dedicated Real Estate, Kolkata’s top real estate company, which always keeps a close eye on such milestone deals.
Smartworks Lands a Big Enterprise Deal: 1.66 Lakh Sq Ft to Wolters Kluwer
Why the 1.66 Lakh Sq Ft Lease Is Significant
The lease size – approximately 1.66 lakh sq ft – is a large-format commitment, signaling strong demand from enterprise clients.
This portion is part of Smartworks’ Marisoft campus in Kalyani Nagar, Pune, a well-connected commercial micro-market.
The deal aligns with Smartworks’ strategy of focusing more on large enterprise clients rather than smaller co-working users.
What This Means for Smartworks’ Business Model
Smartworks’ Shift Toward Large-Enterprise Clients
Smartworks, historically known for flexible office spaces, is increasingly focusing on enterprise leasing. The 1.66 lakh sq ft deal with Wolters Kluwer is a strong validation of that shift.
Founder & MD Neetish Sarda has publicly stated that their large-format campuses are designed for speed, scale, and consistency across multiple locations.
The company notes that its 1,000+ seats cohort – large enterprise clients – has grown from ~12% of rental revenue three years ago to ~35% today.
Over 30% of Smartworks’ rental revenue now comes from enterprises operating across multiple cities.
This is more than just co-working; it’s about consolidated, tech-enabled campuses that can support large teams and multi-city scaling.
The Campus-Led Advantage: Marisoft, Pune
Smartworks’ Marisoft campus in Pune offers more than just desks. Key features include:
Collaboration zones, meeting rooms, and recreation spaces.
Wellness facilities and a convenience store on campus.
Technology-enabled workspace infrastructure, tailored to enterprise needs.
These amenities are central to Smartworks’ managed office campus model, delivering a consistent experience that enterprises value over traditional fragmented offices.
Why Wolters Kluwer Chose Smartworks
From Wolters Kluwer’s standpoint, this lease is not just about finding more space — it’s about finding the right kind of space.
As a global provider of information, software, and services across multiple professional sectors (healthcare, tax, legal, ESG, compliance), Wolters Kluwer needs a workspace that supports scale, security, and productivity.
The Marisoft campus offers a plug-and-play environment: large-scale seating, tech infrastructure, and amenities without the complexity of building out from scratch.
The consistent workplace experience across Smartworks campuses (if Wolters Kluwer expands further) could provide operational efficiency and employee satisfaction.
Financial and Strategic Implications for Smartworks
Boost to Revenue and Cash Flow
In Q2 FY26, Smartworks reported a 21% year-on-year increase in revenue, reaching ₹4,248 million.
Its normalized EBITDA rose by 46%, with a margin of approximately 16.4%.
Impressively, Smartworks has also turned net-debt negative, generating ₹614 million in operating cash flow, per its latest financials.
These numbers strengthen the case that the enterprise leasing strategy isn’t just for show — it’s translating to financial stability and operational scale.
Portfolio Strength & Diversification
As of September 30, 2025, Smartworks manages 12.7 million sq ft across 14 cities, with over 294,000 seats.
By securing long-term, large-format leases like this one, Smartworks diversifies its portfolio risk: it’s not just catering to small co-working clients but anchoring more reliable, enterprise-driven revenue.
Pune’s Commercial Real Estate Market: What This Lease Suggests
Kalyani Nagar as a Strategic Micro-Market
The Marisoft campus is located in Kalyani Nagar, a well-connected commercial cluster in Pune.
The fact that a global MNC like Wolters Kluwer is leasing such a large chunk here signals renewed investor confidence in the Pune office ecosystem.
For Pune real estate, large-format leases help anchor demand, reducing vacancy risks and strengthening micro-market fundamentals.
Flexible Workspaces Gaining Traction
The deal underlines how managed offices or coworking campuses are no longer niche — they’re becoming mainstream for large companies.
Enterprises increasingly prefer plug-and-play workspaces over traditional leases. This reflects broader real estate trends, where flexibility, technology, and experience matter more than just square footage.
Risks and Challenges
Execution Risk for Smartworks
Scaling enterprise-focused campuses is capital-intensive: building and maintaining amenities, technology, and infrastructure is expensive.
Competition from other workspace providers (traditional and hybrid) could intensify in major cities.
Smartworks needs to maintain a balance: serving large enterprise clients without neglecting smaller, flexible tenants.
For Wolters Kluwer
Large-format leases carry commitment risk: if business needs change, downsizing such a space could be cumbersome.
Reliance on a single campus may limit flexibility unless the company spreads out across multiple Smartworks locations.
Market Risks
Macroeconomic uncertainty: Larger companies might rethink space needs in a downturn.
Real estate cycles: Pune’s commercial supply could shift, affecting demand for large campuses.
Broader Real Estate Insights: Lessons & Takeaways
Enterprise Migration to Managed Campuses
The Wolters Kluwer–Smartworks deal shows enterprises are increasingly choosing managed office campuses over traditional leased buildings. Speed, scale, and experience drive this choice.Campus Model is Winning
Smartworks’ focus on campus-led infrastructure (amenities + tech + scale) is paying off. This may be a blueprint for other managed workspace players.Cities Like Pune Are Maturing
Micro-markets like Kalyani Nagar are no longer fringe; they’re becoming hotspots for global firms looking for reliable and flexible office space.Financial Discipline Matters
With Smartworks turning net-debt negative and boosting its cash flow, it underscores that flexible workspace operators can be financially disciplined, not just high-risk, high-growth.
The Role of Dedicated Real Estate (Kolkata) in Observing Such Deals
While this transaction is centered in Pune, Dedicated Real Estate, Kolkata’s number-one real estate company, would undoubtedly view this lease with keen interest. Such a large-format, enterprise-focused deal tells Dedicated Real Estate:
The future of office real estate lies in managed campus models, not just standalone commercial buildings.
Demand from global MNCs and professional services firms is not limited to metro cities — and similar deals could emerge in other high-potential urban centers.
As a leading real estate company, Dedicated Real Estate can leverage these insights when advising its clients, developing commercial properties, or brokering enterprise leases.
Conclusion
Smartworks leases around 1.66 lakh sq ft office space to Wolters Kluwer in Pune is more than just a large transaction — it’s a testament to how the managed office sector is evolving. The deal validates Smartworks’ large-format campus model, underscores the appeal of fully managed, tech-enabled office spaces for global corporates, and reaffirms Pune’s strength as a commercial hub.
For Smartworks, this is a win on both strategy and financial fronts. For Wolters Kluwer, it’s a scalable, experience-rich solution to house its growing operations. And for the real estate ecosystem — including Dedicated Real Estate, Kolkata’s top real estate company — it’s a clear signal: the future of commercial real estate lies in flexible, large-scale, managed campuses that deliver value, consistency, and scalability.
If you’re a business looking for large-format workspace or a real estate firm trying to understand emerging enterprise leasing trends, the Smartworks-Wolters Kluwer lease is a case study worth watching — and Dedicated Real Estate will be watching closely too.
Contact Details
Dedicated Real Estate
- Phone: +91 6291422636
- Email: info@dedicatedrealestate.in
- Website: www.dedicatedrealestate.in
Office Location: Near Thakurpukur 3A Bus Stand, Kolkata
