Smartworks leases 1.68 lakh sq ft space in 2 Kolkata campuses to Wipro

Smartworks did not identify Wipro as the leasing entity

Flex and managed office space provider Smartworks has leased 1.68 lakh square feet of space in Kolkata to IT services major Wipro, sources have told Moneycontrol.

In a release, Smartworks said the Salt Lake City leases were the largest flex office space deal in Kolkata, as it identified the leasing firm only as "a leading global IT services and consulting player".

The spaces have been leased at Victoria Park and Mediasiti. Wipro did not respond to a request for comments on the deal.

JLL India was the adviser for the transaction.

Smartworks said it is scaling up enterprise solutions to meet escalating demand.

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, Smartworks founder and managing director Neetish Sarda said.

“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," Sarda said.

Smartworks, which listed earlier in the year, said long-term tenures with 1,000 or more seats accounted for around 35 percent of rental revenues. The leasing trend showed that enterprises are using flex spaces as longer-term scalable solutions than stopgap measures, it said.

The firm manages 14 million square feet of space at 14 locations in India as well as Singapore. The firm hosts a number of global capability centres and plans to scale up their number in its portfolio. It has launched SmartVantage, a platform to help GCCs ramp up their presence, with talent, operational advisory, and innovation support.

Wipro, India's fourth largest IT services player, has a large presence in Kolkata, including a special economic zone in Sector V of the Salt Lake City. It is also set to open up another campus at New Town, in north-eastern Kolkata.