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Smartworks turns profitable as revenue and managed workspace demand rise

#Taxation & Finance News#India

Last Updated : 4th May, 2026

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Synopsis

Smartworks Coworking Spaces Ltd reported a turnaround in profitability, posting a consolidated net profit of INR 16.62 crore for the latest quarter of the current fiscal period, compared to a loss of INR 8.3 crore in the same period a year ago. The company also recorded a 47% rise in total income to INR 532.70 crore for the quarter. For the full financial year, Smartworks moved into profit with INR 10.52 crore, supported by higher occupancy demand and expansion of managed office spaces. Its annual income rose to INR 1,849.9 crore, reflecting steady growth in the flexible workspace segment.

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Smartworks Coworking Spaces Ltd has reported a turnaround in its financial performance, supported by strong demand for managed and flexible office spaces across major cities.

For the latest quarter of the ongoing financial year, the company posted a consolidated net profit of INR 16.62 crore, compared to a net loss of INR 8.3 crore in the same period last year. Total income during the quarter increased by 47% to INR 532.70 crore from INR 362.05 crore in the previous year, as per regulatory filings.

For the full financial year, Smartworks recorded a net profit of INR 10.52 crore, improving from a net loss of INR 63.17 crore in the preceding financial year. The company’s total income also rose to INR 1,849.9 crore from INR 1,409.66 crore in the previous year.

Founder and Managing Director Neetish Sarda, while speaking on the results, said that the financial year marked the company’s first full year as a listed entity and noted that growth, profitability, and capital efficiency improved together during the period. He added that the company achieved its strongest annual performance so far and reported full-year profit after tax under Ind AS standards.

He further highlighted that Smartworks became the first listed flexible workspace platform in India to cross 10 million sq ft of operational portfolio. The company has also secured more than INR 5,200 crore in contracted rental revenue, with full supply visibility secured for the next financial year and about 75% already in place for the following year, indicating steady revenue predictability.

Sarda also pointed out that demand from corporates is increasingly shifting towards large, managed office campuses, supporting the company’s expansion strategy.

At present, Smartworks manages a portfolio of 16.1 million sq ft across 66 centres spread across 15 cities in India and Singapore. The company operates on an asset-light model by leasing office spaces from developers, developing them into managed workspaces, and then sub-leasing them to corporate clients.

For more similar or related stories, you can check the links below.

https://propnewstime.com/getdetailsStories/Mjk0ODE=/smartworks-crosses-10-million-sq-ft-operational-portfolio-with-mumbai-centre-launch

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