Managed workspace provider Smartworks Coworking Spaces has reported a 21 percent on-year (YoY) rise in revenue from operations at Rs 379 crore for the June quarter, the company informed on August 13, with net loss at Rs 4.2 crore compared a a loss of Rs 23 crore a year ago.
“The normalised EBITDA of the company rose to Rs 60.7 crore, a 109 percent YoY increase, with a margin of 16 percent. We generated an operating cash flow of Rs 85 crore in Q1FY26. We are on track to become free cash flow positive,” Neetish Sarda, Managing Director, Smartworks told Moneycontrol.
Sarda said normalised profit before tax (PBT) improved to Rs 16.8 crore in Q1FY26, which was a significant turnaround from normalised loss before tax of Rs 10.2 crore in Q1FY25.
As of June 30, 2025, the company’s current operational portfolio had reached 10.08 million square feet (msf), and the total AUM stands at 12 msf.
“Our revenue growth this quarter reflects a combination of robust, sustained demand from enterprise clients and the deliberate capacity expansion we executed over the past year. By adding over 1 msf of new supply, we not only strengthened our footprint in key markets but also positioned ourselves to capture incremental demand quickly,” Sarda said.
Since FY19, Smartworks has added 8.6 msf across major cities including Pune, Bengaluru, Hyderabad, and Mumbai. Occupancy in its operational centres remains above 83 percent, with a committed occupancy of over 89 percent.
The company said it would continue to leverage presence across markets, India and Singapore, and integrated service model to drive sustainable growth and long-term value creation.
Harsh Binani, Executive Director, Smartworks said that the company’s operational momentum remains strong, supported by a healthy pipeline of new supply.
“Today, we have more than Rs 4000 crore in committed revenue, providing strong visibility into future cash flows. We added several marquee clients across industries to our growing portfolio, reaffirming our position as the workspace partner of choice for enterprise India,” he said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
