Smartworks Coworking Spaces Ltd
In supersession of earlier intimation regarding Investor Presentation dated July 22, 2026, we hereby submit presentation on Un-audited Financial results for quarter ended June 30, 2026,
RESULTS
▲ Positive Development
LOW RISK
📅 Filed on BSE: 22 Jul 2026, 02:43 PM IST · BSE ID: 7be3bb3b-9203-4cd9-a0ba-4a99386d560c
View Original BSE Filing (PDF)
💡
In Simple Terms
Smartworks announced its latest quarterly financial results, showing higher revenue and profit, driven by increased office space utilization.
🤖 AI Summary
- Smartworks reported Q1 FY27 revenue from operations of INR 5,462 Mn, a 44% year-on-year increase.
- Normalised EBITDA for Q1 FY27 reached INR 1,069 Mn, growing 74% year-on-year with a 19.6% margin.
- Normalised Profit After Tax (PAT) for the quarter was INR 388 Mn, increasing 197% year-on-year.
- Total Operational SBA (Seating Business Area) stood at 10.4 Msf, with 16.9 Msf Total SBA secured.
- Committed occupancy for mature centers reached 92%, with ~INR 54,000 Mn contracted rental revenue.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Revenue from operations
INR 5,462 Mn
44% YoY
Normalised EBITDA
INR 1,069 Mn
74% YoY
Normalised EBITDA Margin
19.6%
~340 bps YoY
Normalised PAT
INR 388 Mn
197% YoY
Normalised RoCE (Annualised)
21.5%
~870 bps YoY
Committed Occupancy (Mature)
92%
Contracted Rental Revenue
~INR 54,000 Mn
🏢 How This Affects the Company
The company's revenue visibility is strong with ~INR 54,000 Mn in contracted rental revenue, covering ~87% of FY27 revenue. Expansion across 15 cities and 70 centers strengthens its market footprint.
Smartworks reported a Normalised EBITDA margin of 19.6% and an annualised Normalised RoCE of 21.5%, indicating improved profitability and capital efficiency. The company maintains a net debt of just INR 56 Mn.
Operational SBA grew to 10.4 Msf, supported by ~5.0 Msf SBA added since IPO. The company focuses on enterprise clients, with 92% of rental revenue from this segment.
Diversification of client base, with ~75% of new Q1 FY27 revenue from non-IT sectors, reduces dependency on any single industry. Top-10 client concentration decreased to 23% from 39% in FY19.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this financial results presentation.
👤
Who Is Affected
All shareholders are affected as the company's financial performance indicators show growth in revenue, profitability, and operational metrics for Q1 FY27.
🔍
Management Signal
The financial results and guidance reiterate management's focus on scaling operations, improving profitability, and maintaining capital efficiency, with FY27 guidance on track.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q2 FY27 financial results — check if revenue and profit growth trends continue.
Updates on new SBA additions — monitor progress on committed expansion plans.
GCC contribution to revenue — track further diversification from 21% in Q1 FY27.
LOW RISK
Strong operational performance and low net debt indicate a stable financial position.
💡 Investor Takeaway
Smartworks Coworking Spaces Ltd. reported Q1 FY27 revenue of INR 5,462 Mn (+44% YoY) and Normalised PAT of INR 388 Mn (+197% YoY). Normalised EBITDA margin improved to 19.6%, with committed occupancy for mature centers at 92%.
⚖️ Strengths & Concerns
✅ Positives
- Normalised EBITDA grew 74% YoY to INR 1,069 Mn in Q1 FY27, with margins improving to 19.6%.
- Net debt is INR 56 Mn, indicating a strong balance sheet, with Operating Cash Flow structurally above 1x EBITDA.
📅 Company Track Record
Smartworks Coworking Spaces Ltd. recently listed following its IPO in March 2026. This Q1 FY27 report follows record FY26 revenue of ₹1,796 Cr (+31% YoY) with EBITDA ₹314 Cr (+75% YoY), its first formal financial disclosure post-listing.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was Smartworks Coworking Spaces Ltd.'s revenue in Q1 FY27?
Smartworks Coworking Spaces Ltd.'s revenue from operations in Q1 FY27 was INR 5,462 Mn, marking a 44% year-on-year increase.
What was the Normalised EBITDA and margin for Smartworks in Q1 FY27?
The Normalised EBITDA for Smartworks in Q1 FY27 was INR 1,069 Mn, representing a 74% year-on-year growth, with a Normalised EBITDA margin of 19.6%.
What was Smartworks' Normalised Profit After Tax (PAT) in Q1 FY27?
Smartworks reported a Normalised Profit After Tax (PAT) of INR 388 Mn in Q1 FY27, which is a 197% increase compared to the prior year.
What is the total operational SBA for Smartworks as of June 30, 2026?
As of June 30, 2026, Smartworks' total operational SBA (Seating Business Area) was 10.4 Msf, with 16.9 Msf total SBA secured.
What is Smartworks' net debt position as of June 30, 2026?
Smartworks reported a net debt of INR 56 Mn as of June 30, 2026, with gross debt at INR 2,134 Mn.
Questions based on this BSE filing only. For information purposes.