Smartworks Coworking Spaces Ltd

Revenue from operations jumped 44.99% YoY to Rs 519.68 crore in the quarter ended 31st March 2026. The company reported pre-tax profit of Rs 22.24 crore in Q4 FY26 compared with pre-tax loss of Rs 4.94 crore in Q4 FY25. Normalised EBITDA stood at Rs 99 crore during the quarter, up 71% YoY. In Q4 FY26, total footprint (including LOIs) stood at 16.1 million sq ft across 66 centres in 15 cities (including Singapore), up 37% YoY. On annual basis, the company reported consolidated net profit of Rs 10.52 crore in Q4 FY26 comparedwith net loss of Rs 63.17 crore in Q4 FY25. Revenue from operations jumped 30.69% to Rs 1,795.80 crore in FY26 compared with Rs 1,374.05 crore in FY25. On outlook front, the company enters FY27 with a strong multi-year contracted rental revenue visibility of more than Rs 5,200 crore. It added that the structural outlook for the sector remains strong, India's office market absorbed a record 83 million square feet in 2025, with Q1 calendar 2026 clocking the highest first-quarter gross leasing ever recorded. Neetish Sarda, founder and managing director, Smartworks, said, 'FY26 was our first financial year as a listed company, and one where growth, profitability, and capital efficiency improved together. We delivered our strongest full-year performance, with revenue growing 31% to '1,796 crore, normalised EBITDA up 75%, and ROCE more than doubling to 16%. We also achieved full-year PAT profitability under Ind AS, reinforcing the durability of our model. During the year, we became the first listed flex workspace platform in India to cross 10 million square feet of operational portfolio. With more than 5,200 crore of contracted rental revenue, 100% of FY27 supply secured, and ~75% visibility already in place for FY28, we enter the next phase with strong forward visibility.' Smartworks Coworking Spaces primarily serves as a one-stop workspace solution for companies. It serves mid-to-large enterprises and counts over 770 clients, including Fortune 500s, Forbes 2000 names, GCCs, MNCs, and high-growth Indian businesses. Powered by Capital Market - Live

Net profit of Smartworks Coworking Spaces reported to Rs 16.62 crore in the quarter ended March 2026 as against net loss of Rs 8.30 crore during the previous quarter ended March 2025. Sales rose 44.99% to Rs 519.68 crore in the quarter ended March 2026 as against Rs 358.43 crore during the previous quarter ended March 2025. For the full year,net profit reported to Rs 10.53 crore in the year ended March 2026 as against net loss of Rs 63.18 crore during the previous year ended March 2025. Sales rose 30.69% to Rs 1795.81 crore in the year ended March 2026 as against Rs 1374.06 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales519.68358.43 45 1795.811374.06 31 OPM %65.1164.84 -64.3262.39 - PBDT256.31156.54 64 843.11556.54 51 PBT22.25-4.95 LP 13.85-79.46 LP NP16.62-8.30 LP 10.53-63.18 LP Powered by Capital Market - Live

Smartworks Coworking Spaces will hold a meeting of the Board of Directors of the Company on 30 April 2026.

Smartworks Coworking Spaces has crossed 10 million sq. ft of operational portfolio, becoming the first listed flexible workspace provider in India to achieve this scale. This milestone follows the operationalisation of the Tata Intellion Park centre in Mumbai. The company recently announced the addition of a Forbes 2000 company at this centre and continues to see healthy traction. The company's performance reflects this momentum. In Q3 FY26, Smartworks reported revenue of Rs 472 crore, up ~34% year-on-year, while mature centres operated at ~93% committed occupancy, indicating strong demand and stability across its portfolio. With this scale and portfolio maturity , Smartworks has entered a phase of cash compounding. Smartworks caters to a diverse client base that includes Forbes 2000 companies, GCCs, large enterprises, and scaling businesses. Its campus-led model of leasing entire buildings and converting them into fully managed workspaces, enables enterprises to expand across cities without managing real estate operations directly.

Smartworks Coworking Spaces announced the expansion of its multi-city engagement with a Forbes 2000 company and a global leader in digital business services and customer experience (CX) management. With the addition of 1,150 seats at Smartworks' managed campus at Tata Intellion Park, Navi Mumbai, the client's total portfolio with the company now spans Bengaluru, Kolkata, Hyderabad, and Mumbai, taking the overall seat count to over 5,000 seats. The combined expected rental revenue from these locations is estimated to exceed Rs 155 crore, which includes the newly signed Mumbai managed office deal of Rs 51 crore. As of Q3 FY26, Smartworks had over Rs 4,700 crore of committed rental revenue, reinforcing the long tenure, enterprise-led nature of the business.

Smartworks Coworking Spaces has entered into a lease deed for capacity addition in Jaipur, admeasuring 1,49,560 Sq. Ft, which will result in an increase in its operational capacity. Powered by Capital Market - Live

Net profit of Smartworks Coworking Spaces reported to Rs 1.24 crore in the quarter ended December 2025 as against net loss of Rs 16.03 crore during the previous quarter ended December 2024. Sales rose 34.19% to Rs 472.13 crore in the quarter ended December 2025 as against Rs 351.83 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales472.13351.83 34 OPM %64.7362.04 - PBDT224.83144.76 55 PBT1.56-22.28 LP NP1.24-16.03 LP Powered by Capital Market - Live

Smartworks Coworking Spaces will hold a meeting of the Board of Directors of the Company on 15 January 2026.Powered by Capital Market - Live

Smartworks Coworking Spaces has leased ~1.68 lakh sq. ft. in Kolkata to a leading global provider of information technology, consulting and business process services. The IT major's new office is distributed across two Smartworks campuses - Victoria Park and Mediasiti, located in Kolkata's thriving commercial micro market at Salt Lake City, Sector V. This is the largest flex office deal signed in the Kolkata region. Strategically located with excellent connectivity and a strong talent ecosystem, the new workspace offers tech-enabled environments, modern collaboration zones, meeting suites, recreation areas, wellness facilities and convenience stores - designed as holistic, experience-led spaces that support productivity, culture and scale for today's enterprises. Powered by Capital Market - Live

The agency has also affirmed the company's short term rating at 'CARE A1'. CARE Ratings stated that the ratings assigned to bank facilities of Smartworks Coworking Spaces (SCSL) derive strength from continued improvement in scale of operations over the years through improving space under management and healthy occupancy levels. CARE Ratings also notes SCSL's listing on BSE and NSE from 17 July 2025, post a successful initial public offer (IPO), which subsequently improved SCSL's financial risk profile leading to improved capital structure and debt coverage indicators. CareEdge Ratings also notes that a major portion of IPO funds are to be utilised for future expansion. The ratings also consider the company's strong presence in the flexible, fully serviced workspace sector across India, and backing of reputable investors. The ratings further benefit from a diverse and reputed tenant profile, which reduces tenant concentration risk. The presence of escrow mechanism and debt service reserve account (DSRA) and stable operating cash flows through timely collection of rent contribute to rating comfort. However, ratings are constrained by continuous accounting losses in the past, resulting in leveraged capital structure till FY25, significant expansion plans in the near future that pose market risks, the potential risk of lease non-renewal after the lock-in period, exposure to macroeconomic conditions and cyclical nature of the competitive real estate industry. Smartworks Coworking Spaces is engaged in flexible fully serviced workspace leasing business, with pan-India presence having total leasable areas of nearly 10.1 million square feet as on 30 June 2025. The scrip fell 3.32% to currently trade at Rs 529.65 on the BSE. Powered by Capital Market - Live