Tag: managed office spaces

CommercialLatest Stories

Smartworks Reports ₹10.52 Crore Net Profit in FY26

NEW DELHI: Smartworks Coworking Spaces has announced a net consolidated profit of ₹10.52 crore, with total income amounting to ₹1,849.90 crore for the financial year 2025-26. In Q4 FY26, the company’s net consolidated total income reached ₹532.70 crore, while profit after tax was ₹16.62 crore. The company reported a net debt of -₹56 crore, concluding FY26 with net cash and a reduction in gross debt by over 50% since its IPO. The cost of borrowing dropped below 9%, decreasing approximately 180 bps year-on-year. Neetish Sarda, the founder and managing director, stated, “This year, we became the first listed flex workspace…

CommercialLatest Stories

Co-Working Spaces Create GST Registration Challenges

AHMEDABAD: Businesses utilizing co-working spaces and seeking GST registration are experiencing heightened scrutiny from tax authorities throughout the state. Despite such registrations being legally acceptable, officials are showing caution, particularly when multiple companies share the same address, often suspecting the existence of shell companies or fraudulent entities aimed at tax evasion. Applicants report that government officials frequently request proof of exclusive office space possession, despite co-working arrangements providing licensed access to desks and cabins rather than formally leased premises. In numerous cases, GST applications have been denied because another business is already registered at that location. Chartered accountant Karim Lakhani…

CommercialLatest Stories

GCCs Boost Office Leasing to 85-90 Million Sq Ft by FY27

NEW DELHI: India’s commercial real estate sector is expected to maintain steady growth, with gross leasing across the top eight office markets projected to increase by 12%–14% year-on-year, reaching 85-90 million sq ft in FY27, as stated in a whitepaper from India Ratings & Research (Ind-Ra) in partnership with ETRealty. According to the agency, gross leasing is set to reach 79–80 million sq ft in FY26, reflecting a 10% annual increase. Although leasing for the first half of FY26 was recorded at 29.5 million sq ft, which is an 8% drop year-on-year due to a high base and limited availability…

CommercialLatest Stories

Awfis Sees 42.72% Profit Surge in Q3 FY26

NEW DELHI: Awfis Space Solutions has announced a 42.72% increase in its net consolidated profit for the quarter ending December 31, 2025. The profit after tax reached ₹21.65 crore in Q3 FY26, compared to ₹15.17 crore during the same period last year, according to a BSE filing. The company’s net consolidated total income for Q3 FY26 was ₹410.95 crore, showing a growth of 23.98% from ₹331.46 crore in the corresponding quarter of the previous year. Amit Ramani, Chairman and Managing Director, stated, “In this quarter, we opened 10 new centers, increasing our total network to 257 centers with 177,000 seats…

CommercialLatest Stories

EFC India to List on NSE August 20

NEW DELHI: EFC (I), a comprehensive office infrastructure and design services firm currently listed on BSE, is set to debut on the National Stock Exchange (NSE) on August 20. This listing is anticipated to enhance liquidity, strengthen investor confidence, and increase brand visibility. The company added 3,377 seats in the April-June quarter, bringing the total to 63,389, a remarkable 34.72% increase compared to the 47,051 seats during the same period last year. EFC’s net profit surged by 196% year-on-year to ₹46.7 crore in Q1 FY26, up from ₹15.8 crore last year. Operating income has nearly doubled, growing by 115% to…