Smartworks Franchise
Listed managed-office operator (70 centres, Jun 2026) that runs every centre itself; no franchise offered. FY26 revenue ₹1,796 Cr.
Smartworks is not taking franchisees in India
This page is here so you can research the brand and compare it with others — it is not a franchise offer. Anyone selling a "Smartworks franchise" to you is not authorised by the brand. See the note below for how the brand actually runs its stores.
About This Listing
Smartworks does not franchise. It leases office buildings from landlords, fits them out and sublets the space to companies on multi-year contracts, running every centre itself. Its site publishes no franchise, operator-partner or master-franchise programme; the only 'partnership' page sells advertising and kiosk space inside its centres. Treat any 'Smartworks franchise' offer as unconfirmed unless the listed company confirms it in writing.
Source: Smartworks investor relations FAQ and website (checked 4 Oct 2026)
Smartworks franchise at a glance (terms checked Oct 2026)
Investment
Not franchising
Ongoing take
Not published
Franchise fee
Not published
Payback
Not published
- Legal or regulatory action on record — see Reputation & News
- Disputes with franchisees: None found (records checked Oct 2026)
- Profit or loss: Profit of ₹11 Cr in FY26
- Revenue trend: +31% revenue FY25→FY26
Franchisor strength isn't franchisee profit — check real outlet numbers.
Outlets
70 (brand claim)
What we couldn't verify
- • Outlet closures
- • Franchisee satisfaction
- • Outlet claim matches reality
- • Network growth
Ask before you sign
- Get written confirmation that Smartworks is taking franchisees at all before paying anything — see the note at the top of this page.
- Ask for the one-time franchise fee in writing, and whether any part is refundable.
- Ask for the royalty and any marketing-fund fee, and how they're calculated (on sales or profit).
Franchise terms checked against Smartworks's official investor relations page on 3 Oct 2026. Figures marked * aren't published by the brand — they come from other published sources or our own estimate, and aren't verified.
Reputation & News
3 red flags to checkWhat the press, courts and real franchisees or customers have said about Smartworks — summarised by us, with every source linked.
- Legal / regulatory· 2026-03-11
Indore landlord terminates lease after court refuses relief
The Commercial Court, Indore rejected Smartworks's plea for interim protection in Jan 2026 and the landlord, Brilliant Estates, terminated the lease in Mar 2026 and sued for eviction; the MP High Court let Smartworks apply afresh and ordered the status quo on the property meanwhile.
Source: Indian Kanoon (MP High Court) - regulatory· 2026-07-31
Late payments to small suppliers
Smartworks's MSME filing shows ₹12.8 Cr across 1,082 payments outstanding beyond the 45-day limit in Oct 2025–Mar 2026, up from ₹6.1 Cr in the previous half-year.
Source: MCA MSME filing via Tracxn - employee_opinion★ 3.3/5 · 437 ratings
Employee rating on AmbitionBox
Smartworks is rated 3.3/5 by about 437 employee reviewers on AmbitionBox.
Source: AmbitionBox - In the news· 2025-07-07
IPO priced at ₹387–407 a share, Jul 2025
Smartworks priced its IPO at ₹387–407 a share (₹445 Cr fresh issue plus an offer for sale), with listing set for 17 Jul 2025; FY25 revenue from operations was ₹1,374 Cr.
Source: BusinessToday
Show 2 moreShow fewer
- In the news· 2026-04-30
First full-year profit in FY26
Smartworks reported FY26 revenue of ₹1,796 Cr (up 31%) and reported PAT of ₹11 Cr, against a ₹63 Cr loss in FY25.
Source: Smartworks results release (the brand's own site) - In the news· 2026-05-28
CARE A; Stable on bank loans, but capital structure still leveraged
CARE Ratings upgraded Smartworks's bank facilities to CARE A; Stable / CARE A1 in Nov 2025 after the IPO and reaffirmed them in May 2026, while listing a leveraged capital structure (gearing 9.28x at 31 Mar 2026, down from 39.89x) as a key weakness.
Source: CARE Ratings (press release, 28 May 2026) (the brand's own site)
Legal & Contract Summary
Key contract terms at a glance — read before you sign.
Agreement Type
Company-Owned, Company-Operated
Contract Duration
—Renewal Available
—Territory Exclusivity
—Non-Compete Clause
NoExit Clause
—About the Brand
Brand USP
A listed managed-office operator that leases whole buildings, fits them out and sublets them to companies — 70 centres in 15 cities (Jun 2026), all run by the company.
Why invest in Smartworks?
Smartworks by the Numbers
Source marked on each figure70
Centres · 30 Jun 2026
Brand claim~16.9 Mn sq ft incl. leases and LOIs (10.4 Mn sq ft operational)
Footprint · 30 Jun 2026
Brand claim381K+
Seats · 30 Jun 2026
Brand claim₹1,796 Cr (FY26, up 31%)
Revenue from operations · FY26
Company filing₹546 Cr (up 44%)
Revenue, Q1 FY27 · Q1 FY27
Company filingSmartworks Outlet Network
Outlet count over time
- 31 Mar 202666
Centres, Q4 FY26 · smartworksoffice.com
- 30 Jun 202670
Centres, Q1 FY27 · smartworksoffice.com
Cities with Outlets
Show all 14 citiesHide the city list
Company Financials
Brand-level, publicly reportedThe franchisor's own company health — separate from what a single franchise outlet earns.
Revenue (FY26)
₹1796 Cr
Net profit (FY26)
₹11 Cr
Employees (Apr 2026 (labour filing, via Tracxn))
992
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Health Check
What Smartworks's franchisor company has filed with the registrar and the courts — the checks a lawyer would run before you sign.
- Status with the registrar
- Active
- Annual filings
- Up to date
- Last AGM
- 29 Sep 2025
- Late payments to small suppliers
- 1082
- Paid-up capital
- ₹114.26 Cr
- Auditor
- Deloitte Haskins & Sells LLP (since FY23)
- Brand trademark
- Registered: 'Smartworks' in the company's name across several classes, including Class 36 (leasing and rental of office space, no. 5462835, filed May 2022) and Class 35 (nos. 3315730 and 3318495, filed Jul 2016)
Group companies
- Smartworks Tech Solutions Pvt LtdSubsidiary · 100%
- Smartworks Office Services Pvt LtdSubsidiary · 100%
- Smartworks Stellar Services Pvt LtdSubsidiary · 100%
- Smartworks Space Pte Ltd (Singapore)Subsidiary · 100%
- Clean Max Dos Pvt LtdAssociate · 24.82%
Source: MCA data via Tracxn; company results; CARE Ratings press releases (Nov 2025, May 2026); Indian Kanoon (checked Oct 2026)
Full company recordsFinancials year by year, registered details, leadership and timelineShowHide
Smartworks Financials Over Time
Figures for the brand, from filed or reported accounts.
Source: BusinessToday (IPO coverage, Jul 2025): revenue from operations · Revenue: BusinessToday (IPO coverage, Jul 2025); loss: Q4 FY26 release; EBITDA: Tracxn legal-entity record · Smartworks Q4 FY26 results release, 30 Apr 2026 (consolidated; revenue from operations, reported PAT)
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Profile
The legal entity behind the brand, its leadership, and its official channels.
- Registered name
- Smartworks Coworking Spaces Limited
- Company type
- Public Limited Company (listed)
- CIN
- L74900DL2015PLC310656
- Incorporated
- 17 Dec 2015
- Headquarters
- Gurugram, Haryana
Leadership
- NNeetish SardaFounder and Managing Director
- HHarsh BinaniPromoter
Social presence
Company details source: MCA master data via Tracxn; company investor page
Smartworks Timeline
Dec 2015
Smartworks Coworking Spaces incorporated
SourceJul 2025
IPO and listing on NSE and BSE
₹445 Cr fresh issue plus an offer for sale of 33.79 lakh shares at ₹387–407 a share; listing scheduled for 17 Jul 2025.
SourceNov 2025
CARE upgrades bank-loan rating to CARE A; Stable
From CARE BBB+; Positive, citing larger scale and the IPO; reaffirmed in May 2026.
SourceMar 2026
Indore landlord terminates a lease
After the Commercial Court, Indore refused Smartworks interim protection in Jan 2026.
SourceApr 2026
FY26: first full-year reported profit
Revenue ₹1,796 Cr; PAT ₹11 Cr vs ₹63 Cr loss in FY25.
Jun 2026
70 centres, ~16.9 Mn sq ft
FranchiseChuno Analysis
Our analysis of verified dataHow Smartworks looks once the numbers are checked side by side.
- ✓The franchisor company is profitableIts latest filed accounts show a net profit. That's the franchisor's money, not yours: a profitable franchisor doesn't mean its franchisees make money. Check real outlet numbers before you invest.
- ✓Brand operating for 11 yearsFounded in 2015. The brand doesn't state when franchising began.
- !3 red flags in the news or public discussionSee Reputation & News below, and ask the brand to address each one.
Data completeness
55%
- ✓ Terms checked against the brand's own page
- ✓ Published investment (not an estimate)
- ○ Franchise fee
- ○ Royalty
- ○ ROI or payback claim
- ○ Agreement term
- ○ Training details
- ✓ Outlet cities verified
- ✓ Company financials
- ✓ Legal entity
- ✓ News & public opinion checked
Ask Before You Sign
Questions tailored to what Smartworks does and doesn't publish.
- 1Get written confirmation that Smartworks is taking franchisees at all before paying anything — see the note at the top of this page.
- 2Ask for the one-time franchise fee in writing, and whether any part is refundable.
- 3Ask for the royalty and any marketing-fund fee, and how they're calculated (on sales or profit).
- 4Ask for the agreement term, renewal fee and exit or transfer terms.
- 5Ask whether you get an exclusive territory, and how large it is.
- 6Ask the brand to respond to each red flag listed under Reputation & News.
- 7Have a lawyer review the franchise agreement before paying anything.
- 8Visit 2–3 existing outlets and speak to their owners without the brand present.
Running the outletSpace, staff, launch steps, training, support and who does whatShowHide
Operations Required
What you'll need on the ground to run this franchise day-to-day.
Area Required
—
Staff Needed
—
Setup Time
—
Owner Involvement
Semi-absentee
Best Locations
Not published
Business Type
Not published
Training & Support
What the brand provides to help you launch and run your franchise.
Training Cost
Covered by franchisor
Operations Manual
Step-by-step playbook for running the outlet
Supply Chain Support
Vendor sourcing, inventory & logistics
Technology / POS
Billing, inventory, and management software
Marketing Support
National & local marketing campaigns
Launch Support
Pre-opening setup and grand-opening assistance
Ongoing Field Support
Regular visits and operational coaching
What Smartworks franchisees say
We haven't yet heard from enough Smartworks franchisees to show anything. We publish totals once 3 or more people who run an outlet have answered and we've called each one to check.
I run a Smartworks outlet — share how it went
