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Flexible workspace operator Smartworks Coworking Spaces Ltd reported a consolidated net profit of INR 13.14 crore for the first quarter of FY27, compared with a net loss of INR 4.19 crore in the corresponding period last year. The improvement was supported by a 44% increase in total income, which rose to INR 559.66 crore from INR 387.98 crore a year earlier. As of 30 June 2026, the company operated a portfolio of 16.9 million sq ft across 70 centres in 15 cities in India and Singapore. Smartworks also reported a net profit of INR 10.52 crore on INR 1,850 crore in revenue for FY26.
Smartworks Coworking Spaces Ltd reported a consolidated net profit of INR 13.14 crore for the quarter ended 30 June 2026, supported by strong revenue growth from its expanding managed workspace business. The company had posted a net loss of INR 4.19 crore during the corresponding quarter of the previous financial year.
According to a regulatory filing released in the past week, the company's total income increased 44% year-on-year to INR 559.66 crore in the April–June quarter of FY27, compared with INR 387.98 crore in the same period last year.
Commenting on the performance, Neetish Sarda, Founder and Managing Director of Smartworks, said the company had anticipated sustained growth in India's flexible workspace market at the time of its listing a year ago. He stated that the company's financial performance reflects increasing adoption of managed office spaces by large enterprises, which are seeking scalable workplace solutions instead of conventional office formats.
Smartworks operates a managed office business model under which it leases office space from real estate developers, converts the properties into fully managed flexible workspaces and subleases desks and office suites to enterprise clients.
As of 30 June 2026, the company had a portfolio spanning 16.9 million sq ft across 70 centres in 15 cities in India and Singapore. The network serves large enterprises through managed office and flexible workspace solutions, making Smartworks one of the country's larger operators in the segment.
The latest quarterly results build on the company's performance in FY26, when it reported a net profit of INR 10.52 crore on total revenue of INR 1,850 crore. The return to profitability during the previous financial year marked an improvement in the company's financial performance as demand for flexible office space continued to strengthen.
India's flexible workspace market has recorded sustained growth in recent years, driven by enterprise occupiers seeking greater operational flexibility, lower capital expenditure and managed office solutions. Demand has also been supported by the expansion of Global Capability Centres (GCCs), technology companies and multinational corporations adopting flexible workplace strategies.
Smartworks' latest quarterly performance reflects continued growth in enterprise demand for managed office space, with higher occupancy and expanding operations contributing to improved revenue and profitability during the opening quarter of FY27.
Source - PTI
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