Smartworks Revenue Jumps 44% in First Year as Listed Entity; Normalised Profit Nearly Triples, Signals Continued Market Share Gains

Smartworks Revenue Jumps 44% in First Year as Listed Entity; Normalised Profit Nearly Triples, Signals Continued Market Share Gains​

Gurugram, India (July 22, 2026): Smartworks Coworking Spaces Limited, one of India's largest managed office platforms by overall footprint, announced its un-audited financial results for the quarter ended June 30, 2026. The results reflect the completion of the company's first full year as a listed entity, showcasing significant growth across key metrics and reaffirming the management team's long-term strategy.

The company reported robust performance, with revenue increasing by 44% year-on-year. Normalised Profit After Tax (PAT) nearly tripled, while Smartworks continues its aggressive expansion, securing vast future operational capacity.

Financial Performance Highlights​

For the quarter ending June 30, 2026, Smartworks reported strong financial results:


The company's operational efficiency also saw marked improvement, with the margin for normalised EBITDA standing at 19.6%, a rise of 337 basis points. Normalised operating cash flow reached ₹95 crore, reflecting deposits paid to secure future office spaces through FY28 and partially into FY29. The annualised normalised Return on Capital Employed (ROCE) stood at 21.5%, up from 12.7% a year prior despite a 66% rise in investment capital expenditure.

Operational Expansion and Future Pipeline​

Smartworks is expanding its footprint through strategic long-term leases for large, full campuses across high-demand cities. The company has already contracted ₹5,400 crore of revenue, covering 87.2% of the full-year guidance. Furthermore, future expansions are fully booked for FY27 and FY28, with work underway for buildings scheduled for FY29.

A significant development is the upcoming launch of Eastside in Pune, signed through an LOI with Panchshil Realty in Kharadi. This 8.63 lakh sq. ft. campus is set to be the world's largest managed office campus when it opens in the second half of FY27. The company also noted that another 2.2–2.7 million sq. ft. is projected to become operational over the next nine months, alongside Eastbridge in Mumbai (8.15 lakh sq. ft.).

As of today, Singapore capacity has doubled to approximately 1,500 seats following the acquisition of Workstudio, where existing centres continue to operate at high occupancy.

Operational Metrics Snapshot​

The company's operational scale and performance are detailed below:

Management Commentary and Outlook​

Mr. Neetish Sarda, Founder & Managing Director of Smartworks, commented on the results, stating that the growth reflects confidence that India's flex space market is in a long-term growth phase. He highlighted the company’s differentiation through its ability to design and deliver custom workspaces for diverse client needs.

Sarda noted that clients with over 1,000 seats now account for approximately 41% of rental revenue, up from around 37% in FY26, while revenue from multi-city clients grew to about 35% from 31% in the previous fiscal year.

Looking ahead, Smartworks reiterates its FY27 guidance, projecting 28–30% revenue growth and a normalised EBITDA margin of 19–20%. The company aims to achieve an operational footprint of 12.5–13 million sq. ft. by March 2027.

The report noted that the overall market context remains strong, with India's office market recording its highest-ever quarterly leasing of approximately 24.6 million sq. ft. in April–June 2026, and managed workspace operators accounting for 27% of total leasing absorption. Smartworks maintains a lead in securing quality buildings well in advance, ensuring sustained growth opportunities.

SMARTWORKS Stock Price Movement​

As of 12:38 PM, shares of Smartworks Coworking Spaces Limited shed ₹5.90 or 1.18% in live trading, currently priced at ₹494.1. The stock has seen significant activity during the day, with over 1.57 million shares having been traded so far.