Tag: Neetish Sarda

CommercialLatest Stories

Smartworks Coworking Posts ₹13.14 Crore Q1 FY27 Profit

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…

CommercialLatest Stories

Smartworks Leases 1,100+ Seats to L&T in Pune

Representative AI Image NEW DELHI: Smartworks Coworking Spaces has strengthened its partnership with L&T Technology Services (LTTS) by adding over 1,100 seats in Pune. With this addition, LTTS’s managed office portfolio with Smartworks has reached over 2,750 seats across various locations. The anticipated rental revenue from these expansions is projected to be around ₹115 crore, with ₹55 crore coming specifically from the Pune expansion over a 60-month period. Clients with more than 1,000 seats account for approximately 37% of its total rental revenue, while enterprise clients contribute about 90% of the company’s overall revenue. Published On Jul 20, 2026 at…

CommercialLatest Stories

Smartworks Leases 930+ Seats to Pune Professional Firm

Representative AI image NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 930 seats in Pune with the Indian subsidiary of a UK-based global professional services and technology firm. This agreement brings the client’s total seat count with Smartworks to more than 1,730. The 60-month contract is projected to generate committed rental revenue of approximately ₹58 crore. When combined with the existing agreement, the total rental commitment is expected to reach around ₹102 crore. Clients with 300 or more seats contribute about 69% of the company’s rental revenue, maintaining an average tenure of approximately 47 months. Multi-city clients…

CommercialLatest Stories

Smartworks to Acquire Singapore’s Workstudio Spaces

NEW DELHI: Smartworks Coworking Spaces is set to acquire Singapore-based flexible workspace provider Workstudio Spaces via its wholly-owned subsidiary, Smartworks Space. This transaction is anticipated to finalize in July 2026, post which Workstudio will function as a step-down subsidiary of Smartworks. Workstudio Spaces operates an area of around 26,000 sq ft in Singapore, with established occupancy levels. The acquisition will be executed through a cash transaction, where Smartworks’ subsidiary will gain full ownership of Workstudio. The final cost is still being negotiated and will depend on the closure of transaction documents. Funding for this acquisition will come from resources within…

CommercialLatest Stories

Smartworks Leases 400+ Seats to Japanese NBFC in Mumbai

NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 400 seats with a Japanese NBFC subsidiary in Mumbai. The five-year deal is projected to yield rental revenue of ₹35 crore. Neetish Sarda, the founder and managing director, stated, “Large teams necessitate a specific set of workplace needs – they require a space that operates seamlessly, maintains consistency across touchpoints, and is scalable as the organization expands.” Clients occupying 300 or more seats represent 69% of the company’s rental income, with an average tenure of 47 months for this group. Approximately 90% of the firm’s revenue is derived from…

CommercialLatest Stories

Smartworks to invest ₹70 crore for 4.92 lakh sq ft office in Bengaluru

NEW DELHI: Smartworks Coworking Spaces has secured a lease for 4.92 lakh sq ft at Sattva Aura in Bengaluru. The company announced that the expansion will necessitate an investment of approximately ₹70 crore, which will be financed through internal accruals or proceeds from an issue. As of March 31, 2026, Smartworks reported a leased capacity of 13.7 million sq ft and an operational capacity of 10.1 million sq ft, achieving an operational capacity utilization rate of 82%. With a total footprint of 16.1 million sq ft across 66 centers in 15 cities throughout India and Singapore, the company generated revenues…

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

Smartworks Coworking Reports ₹1.24 Crore Profit in Q3 FY26

NEW DELHI: Smartworks Coworking Spaces Ltd has declared a consolidated net profit of ₹1.24 crore for Q3 of this fiscal year, driven by increased revenue. The company, which went public last year, reported a net loss of ₹16 crore during the same period last year. For the October-December period of the 2025-26 fiscal year, total income surged by 34% to ₹488.14 crore, compared to ₹363.62 crore in the corresponding quarter of the previous year, as stated in a regulatory filing on Thursday. Over the first nine months this fiscal year, net losses decreased to ₹6 crore, down from ₹54.87 crore…

CommercialLatest Stories

Smartworks Narrows Q2 FY26 Loss to ₹3 Crore

NEW DELHI: Smartworks Coworking Spaces Ltd has successfully reduced its consolidated net loss to Rs 3.13 crore in the second quarter of the fiscal year, primarily due to increased expenses. The company reported a net loss of Rs 15.82 crore during the same quarter last year. Total income rose by 22% to Rs 441.06 crore in the July-September quarter, compared to Rs 360.84 crore during the equivalent period last year, as stated in a recent regulatory filing. Neetish Sarda, Founder & Managing Director of Smartworks, commented, “Our Q2 outcomes highlight the robustness and scalability of our managed campus model. With…

CommercialLatest Stories

Smartworks Leases 557,000 Sq Ft at Intellion Park, Mumbai

NEW DELHI: Smartworks Coworking Spaces, a managed office platform, has secured over 5.57 lakh sq ft at Intellion Park, Navi Mumbai, developed by Tata Realty and Infrastructure. This acquisition brings the company’s total leased area in Mumbai to over one million sq ft. Neetish Sarda, the managing director and founder, stated, “Intellion Park, our largest managed office campus in the city, is tailored for enterprises seeking scale, speed, and seamless experience all under one roof.” Smartworks currently operates four campuses, each exceeding five lakh sq ft. The company has established a total footprint of 12 million sq ft across 14…