Jaipur, May 2026.
Smartworks Coworking Spaces Limited, India’s largest managed office platform by area under management, has announced its results for the fourth quarter and full year ended March 31, 2026.
The company’s revenue from operations stood at Rs 1,796 crore, up 31% YoY in FY26. Profit after tax stood at Rs 11 crore as against a loss of Rs 63 crore in FY25.
The company registered its strongest quarter in history recording 45% YoY and 10% QoQ growth in revenue from operations at Rs 520 crore in Q4 FY26. The company reported profit after tax of Rs 17 cr, the second consecutive quarter of reported profitability.
Neetish Sarda, Founder and Managing Director, Smartworks, said – “FY26 was our first financial year as a listed company, and one where growth, profitability, and capital efficiency improved together. We delivered our strongest full-year performance, with revenue growing 31% to Rs 1,796 crore, normalised EBITDA up 75%, and ROCE more than doubling to 16%. We also achieved full-year PAT profitability under Ind AS, reinforcing the durability of our model. During the year, we became the first listed flex workspace platform in India to cross 10 million square feet of operational portfolio. With more than 5,200 Cr of contracted rental revenue, 100% of FY27 supply secured, and ~75% visibility already in place for FY28, we enter the next phase with strong forward visibility. As enterprise demand continues to shift towards large, managed campuses, we are seeing sustained momentum in multi-city deployments. With supply secured ahead of demand and a platform built at scale, we are well positioned to sustain disciplined, capital-efficient growth.”
The company’s total footprint including LOIs spans 16.1 million sq ft across 66 centres in 15 cities (including Singapore), up 37% YoY. The company’s operational area stood at 10.1 million sq ft thereby becoming the first listed flex platform in India to cross this mark.
Smartworks enters FY27 with a strong multi-year contracted rental revenue visibility of more than Rs 5,200 cr with nearly 82.5% of FY27 revenue already locked in.
The structural backdrop remains strongly supportive. With Grade A office demand running ahead of supply through 2030, secured supply is the single biggest moat in the industry and Smartworks has built it.
