NEW DELHI: Smartworks Coworking Spaces reported a net consolidated profit after tax of ₹13.14 crore for the quarter ending June 30, 2026, rebounding from a net loss of ₹4.19 crore in the same quarter of the previous fiscal year.
The company’s total consolidated income surged by 44.3% to ₹559.66 crore in Q1 FY27, up from ₹387.98 crore in Q1 FY26.
Normalised earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 74% to ₹107 crore, with the normalised EBITDA margin expanding by 337 basis points to 19.6%.
Annualised normalised return on capital employed increased to 21.5% from 12.7%, despite a 66% increase in investment capital expenditure.
During the quarter, Smartworks expanded its operational portfolio to 10.4 million sq ft across 54 centres in 15 cities, including Singapore. The total secured footprint reached approximately 16.9 million sq ft across 70 operational and signed centres.
The company added 0.3 million sq ft of operational area in the quarter and anticipates another 2.2-2.7 million sq ft to become operational over the next nine months.
Smartworks has signed a letter of intent for Eastside, an approximately 8.63-lakh-sq ft managed office campus being developed by Panchshil Realty in Kharadi, Pune, projected to be operational in the second half of FY27.
“With around ₹5,400 crore of contracted rental revenue and our expansion pipeline secured through FY28 and partially into FY29, we are confident in delivering our guidance,” stated Neetish Sarda, founder and managing director.
Enterprise clients accounted for approximately 92% of rental revenue this quarter, with clients occupying more than 1,000 seats contributing around 41%. Multi-city clients made up approximately 35% of rental revenue.
Revenue from global capability centres increased to 21% of rental revenue, up from 15% in FY26.
Overall occupancy stood at 81%, with committed occupancy at 86%. Mature centres recorded approximately 89% occupancy and around 92% committed occupancy.
The company’s capacity in Singapore has doubled to approximately 1,500 seats following the acquisition of Workstudio.
Smartworks reiterated its FY27 guidance of 28-30% revenue growth, a normalised EBITDA margin of 19-20%, and an operational footprint of 12.5-13 million sq ft by March 2027.
