Smartworks Coworking gains after reporting turnaround Q4 performance
The company reported pre-tax profit of Rs 22.24 crore in Q4 FY26 compared with pre-tax loss of Rs 4.94 crore in Q4 FY25. Normalised EBITDA stood at Rs 99 crore during the quarter, up 71% YoY.
In Q4 FY26, total footprint (including LOIs) stood at 16.1 million sq ft across 66 centres in 15 cities (including Singapore), up 37% YoY.
On annual basis, the company reported consolidated net profit of Rs 10.52 crore in Q4 FY26 comparedwith net loss of Rs 63.17 crore in Q4 FY25. Revenue from operations jumped 30.69% to Rs 1,795.80 crore in FY26 compared with Rs 1,374.05 crore in FY25.
On outlook front, the company enters FY27 with a strong multi-year contracted rental revenue visibility of more than Rs 5,200 crore. It added that the structural outlook for the sector remains strong, India's office market absorbed a record 83 million square feet in 2025, with Q1 calendar 2026 clocking the highest first-quarter gross leasing ever recorded.
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 ?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 crore 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.?
Smartworks Coworking Spaces primarily serves as a one-stop workspace solution for companies. It serves mid-to-large enterprises and counts over 770 clients, including Fortune 500s, Forbes 2000 names, GCCs, MNCs, and high-growth Indian businesses.
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