Smartworks Reports Q1 Results: Net Profit Rises as Group Revenue Exceeds 5,400 Million in Rs. Millions
Smartworks Coworking Spaces Limited, formerly known as Smartworks Coworking Spaces Private Limited, announced its unaudited financial results for the quarter ending June 30, 2026. The company's Board of Directors reviewed and approved both the standalone and consolidated financial results, which show strong revenue performance across its operations.The Group reported total income of 5,596.66 million in Rs., driven by a substantial increase in revenue from operations to 5,462.48 million. The consolidated results for the quarter include subsidiary entities such as Smartworks Tech Solutions Private Limited, Smartworks Office Services Private Limited, Smartworks Stellar Services Private Limited, and Smartworks Space Pte. Ltd.
The unaudited standalone financial results highlight a total income of 5,414.34 million in Rs. The company recorded an operating expense of 1,528.05 million, with finance costs standing at 944.78 million. Total expenses for the quarter amounted to 5,277.02 million, resulting in a profit before tax of 137.32 million. The results were reviewed by both the company's Audit Committee and Statutory Auditors.
Key Financial Highlights (Q1 FY 2026)
The performance across the periods is detailed below for Smartworks Coworking Spaces Limited:| Particulars | Quarter ended June 30, 2026 (Unaudited) | March 31, 2026 (Unaudited) | June 30, 2025 (Unaudited) | March 31, 2026 (Audited) |
|---|---|---|---|---|
| Revenue from operations | 5,277.13 million | 5,066.32 million | 3,647.85 million | 17,460.11 million |
| Total income | 5,414.34 million | 5,196.27 million | 3,739.22 million | 18,012.05 million |
| Operating expenses | 1,528.05 million | 1,374.64 million | 1,021.40 million | 4,914.68 million |
| Profit/(loss) for the period | 102.76 million | 150.18 million | (45.02) million | 70.13 million |
| Basic Earnings per Share | 0.90 | 1.31 | (0.44) | 0.63 |
IPO Proceeds Utilization and Strategic Investments
The company's initial public offering (IPO), which involved a fresh issue of 10,941,734 shares and an offer for sale of 3,379,740 shares by selling shareholders, generated gross proceeds totaling 4,450.00 million in Rs.Utilization of the IPO proceeds from the fresh issue of equity shares is summarized as follows:
| Particulars | Gross Proceeds (Rs. in millions) | Amount Utilised up to June 30, 2026 (Rs. in millions) | Unutilised as at June 30, 2026 (Rs. in millions) |
|---|---|---|---|
| Repayment of borrowings | 1,140.00 | 1,140.00 | - |
| Capital expenditure for fit-outs and security deposits | 2,258.40 | 1,596.54 | 661.86 |
| General corporate purposes | 566.32 | 566.15 | 0.17 |
| Offer related expenses | 485.28 | 445.19 | 40.09 |
| Total | 4,450.00 | 3,747.88 | 702.12 |
The unutilised net proceeds as of June 30, 2026, are temporarily deposited and invested in the escrow account, monitoring account, and fixed deposit by Smartworks Coworking Spaces Limited.
Acquisition Update
Following the reporting period, the Group acquired a strategic asset. On July 7, 2026, the Company completed the acquisition of 100% equity shares of Workstudio Spaces Pte. Ltd., a Singapore-based coworking space operator, for a consideration of SGD 2.47 million (equivalent to Rs. 182.20 million).SMARTWORKS Stock Price Movement
Smartworks Coworking Spaces Limited shares are gaining momentum, trading at ₹506.95 as of 12:07 PM, after edging up 1.39% in live trading. The company’s stock sees a high volume day so far, with over 674,972 shares currently traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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