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Smartworks clocks Rs 1,374 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 2m ago
Smartworks clocks Rs 1,374 Cr revenue and Rs 62 Cr loss in FY25
Medial

Smartworks, a leading managed workspace platform, reported a 32% growth in operating revenue to Rs 1,374 crore in FY25. However, despite the strong topline growth, the company’s losses widened 26% in FY25. Smartworks’ revenue from operations increased by 32% to Rs 1374 crore in FY25 from Rs 1039 crore in FY24, according to its financial statement sourced from RHP. SmartWorks provides flexible office space for large enterprises, SMEs, and high-growth startups and leverages its robust phygital platform to deliver fully serviced, tech-enabled, flexible, and affordable workspaces. Lease rentals accounted for over 93% of its operating revenue, which rose by 29% to Rs 1,289 crore in FY25. Other sources included design and fit-out services at Rs 35 crore, ancillary services at Rs 49 crore, and a marginal Rs 1 crore from software fees. Smartworks added another Rs 36 crore from non-operating sources, which pushed its total revenue to Rs 1410 crore in FY25. On the expense side, the largest cost head was depreciation, which increased 35% to Rs 636 crore, followed by operating expenses of Rs 416 crore. Finance costs remained relatively stable at Rs 336 crore, while employee benefit expenses rose to Rs 65 crore. Overall, total expenses increased by 26% to Rs 1,489 crore in FY25 from Rs 1,180 crore in FY24. Despite revenue growth, the company’s loss increased by 26% to Rs 63 crore in FY25 as compared to Rs 50 crore in FY24. However, the company reported a positive EBITDA of Rs 893 crore in FY25 with an EBITDA margin of 63.3% and ROCE of 7.48%. On a unit level, Smartworks spent Rs 1.08 to earn a rupee of operating revenue in FY25, marginally better than the previous year’s ratio of Rs 1.14. The Gurugram-based company reported current assets worth Rs 255 crore in FY25, including Rs 69 crore in cash and bank balances. Smartworks is heading to the public markets with its Rs 583 crore IPO opening on July 10 and closing on July 14, 2025. The company has set a price band of Rs 387 to Rs 407 per share with a lot size of 36 shares, requiring a minimum investment of Rs 14,652 for retail investors.

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Smartworks cuts losses by 82% in Q1 FY26; share hits all-time high

EntrackrEntrackr · 1m ago
Smartworks cuts losses by 82% in Q1 FY26; share hits all-time high
Medial

Smartworks cuts losses by 82% in Q1 FY26; share hits all-time high Smartworks' revenue from operations rose 21% year-on-year to Rs 379 crore in the quarter ending June 2025 from Rs 313 crore in Q1 FY25. Managed office space provider Smartworks has posted its first set of quarterly results since going public, recording a sharp 82% cut in losses during Q1 FY26 alongside double-digit revenue growth. The company's revenue from operations rose 21% year-on-year to Rs 379 crore in the quarter ending June 2025 from Rs 313 crore in Q1 FY25, according to its unaudited consolidated financial statements filed with the National Stock Exchange (NSE). On a sequential basis, revenue was up nearly 6% from Rs 358 crore in Q4 FY25. However, during the full fiscal year ended March 2025, its revenue was recorded at Rs 1,374 crore with a loss of Rs 62 crore. Smartworks makes money from developing, designing, and licensing serviced office spaces and fit-out services, with additional income from other ancillary offerings. It also booked Rs 8.9 crore from non-operating activities, pushing total income to Rs 388 crore in the quarter, compared to Rs 323 crore in Q1FY25. On the cost front, depreciation remained the largest expense at Rs 174 crore, followed by operating expenses of Rs 103 crore. Finance costs, employee benefits, and marketing took the total expenditure to Rs 393 crore, compared to Rs 354 crore in the same quarter last year. The decent growth in scale and cost control mechanisms helped the firm narrow its net loss to Rs 4.1 crore in Q1 FY26 from Rs 23 crore a year ago. Smartworks listed on the NSE earlier this year at Rs 435 per share, a 7% premium to its IPO price of Rs 407. The stock closed today at Rs 467, valuing the company at Rs 5,332 crore ($627 million). Smartworks competes with Awfis, which went public in May 2024 and currently trades at Rs 579. Awfis posted Rs 355 crore in revenue and Rs 10 crore in net profit in Q1FY26. Another peer, WeWork India, has also received SEBI's nod for its upcoming IPO.

Smartworks opens strong on stock exchange; market cap crosses $600 Mn

EntrackrEntrackr · 2m ago
Smartworks opens strong on stock exchange; market cap crosses $600 Mn
Medial

Smartworks opens strong on stock exchange; market cap crosses $600 Mn Managed office space provider Smartworks made its stock market debut on Thursday, listing at Rs 435 per share on the National Stock Exchange, a 7% premium over its issue price of Rs 407. The IPO, which was oversubscribed 13.92 times, comprised a fresh issue of Rs 445 crore and an offer for sale (OFS) of 34 lakh shares worth Rs 137.5 crore. The price band was fixed at Rs 387–407 per share. The public issue received bids for 14 crore equity shares against 1 crore shares on offer. Qualified institutional buyers (QIBs) led the demand, subscribing 24.92 times their allotted quota, followed by non-institutional investors (NIIs) at 23.68 times. Promoters NS Niketan LLP and SNS Infrarealty LLP collectively earned Rs 32 crore through the OFS. Meanwhile, investor Space Solutions India Pte. Ltd (formerly Lisbrine Pte. Ltd) raked in Rs 107 crore, marking a 3.8X return and a profit of Rs 77.3 crore on its original investment, as per the RHP. Ahead of the listing, Smartworks raised Rs 174 crore (around $20 million) from anchor investors including Tata Mutual Fund, Aditya Birla Sun Life, Axis Mutual Fund, and SBI General Insurance. Post listing, Smartworks was trading at Rs 457.9 9 (as on 11.15AM) with a market capitalisation of Rs 5,221 crore (approximately $614 million). In FY25, the company reported Rs 1,374 crore in operating revenue, up from Rs 1,039 crore in FY24. However, its losses widened to Rs 62 crore in FY25 from Rs 50 crore in the previous fiscal ended March 2024. Smartworks competes with Awfis, which went public in May 2024 and currently trades at Rs 649.4. Awfis posted Rs 1,208 crore in revenue and Rs 68 crore in net profit in FY25. Another peer, WeWork India, has also received SEBI’s nod for its upcoming IPO.

Exclusive: Oxyzo clocks Rs 330 Cr PAT on Rs 1,207 Cr revenue in FY25

EntrackrEntrackr · 4m ago
Exclusive: Oxyzo clocks Rs 330 Cr PAT on Rs 1,207 Cr revenue in FY25
Medial

According to consolidated financial statements reviewed by Entrackr, Oxyzo’s operating revenue rose to Rs 1,207 crore in FY25, up from Rs 903 crore in FY24. Following a 58% year-on-year growth in FY24, B2B fintech unicorn Oxyzo Financial Services continued its strong momentum in FY25, recording a 33.7% YoY increase in revenue for the fiscal year ended March 2025. The company also reported a 16.5% rise in profit during the same period. Oxyzo, the lending arm of the industrial goods and services procurement platform OfBusiness, offers credit solutions and loans to small and medium enterprises (SMEs) and startups. Interest income from loan disbursements contributed 95% of its total operating revenue, which rose to Rs 1,141 crore in FY25. The remaining revenue came from fees and commissions. As a lending-focused company, finance costs emerged as the largest expense for Oxyzo, accounting for 58% of its total spending. These costs climbed to Rs 439 crore in FY25, in line with the company's expanding scale. Oxyzo spent Rs 143 crore on employee benefits. Its legal, impairment, administrative, and other operational expenses contributed to a total expenditure of Rs 755 crore in FY25, up from Rs 514 crore in FY24. The combination of topline growth and controlled cost mechanism helped the company post a 16.5% growth in profits, which rose to Rs 339 crore in FY25, compared to Rs 291 crore in the previous fiscal year. Oxyzo raised approximately $200 million in 2022, achieving unicorn status following its Series A round led by Alpha Wave and Tiger Global. The company also plans to raise a fresh round of equity in the second half of FY26 in the range of $100-150 million. According to startup data intelligence platform TheKredible, the OFB group, including its promoters, holds a 74.5% stake, while Alpha Wave is the largest external investor with a 7.4% share, followed by Tiger Global. Its parent OfBusiness is also gearing up for a $1 billion IPO, expected to include a combination of a fresh issue and an offer for sale.

Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20%

EntrackrEntrackr · 4m ago
Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20%
Medial

Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20% Digital payments firm Infibeam has reported a 62% increase in revenue during the fourth quarter of the last fiscal year (Q4 FY25), while its year-on-year profit rose by 20%. Infibeam’s revenue from operations increased to Rs 1,160 crore in Q4 FY25 from Rs 716 crore in Q4 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. For the full fiscal year (FY25), Infibeam’s operating revenue increased 27% to Rs 3,992 crore in FY25 from Rs 3,150 crore in FY24. Payment business accounted for 95% of its total collection which increased by 64% to Rs 1,098 crore in Q4 FY25. Meanwhile, there was a 35% increase in the e-commerce platform business, which rose to Rs 62 crore. The Ahmedabad-based firm recorded a total revenue of 1,180 crore in Q4 FY25. For the full fiscal year (FY25), its total income stood at Rs 4,066 crore. Infibeam operates a diversified digital platform, with a primary focus on digital payments and e-commerce solutions. On the cost side, the company’s total expenses rose by 66% to Rs 1,104 crore in Q4 FY25. For the digital payment firm, its payment processing was the largest cost center, rising by 68% to Rs 1,025 crore. Employee benefits increased by 30% to Rs 39 crore, while depreciation cost grew 6% to Rs 18 crore. Infibeam Avenues also incurred Rs 22 crore on other undisclosed expenses in the said quarter. For the fiscal year ending March 2025, the firm’s total expenses increased to Rs 3,768 crore. In the end, the company reported profit after tax of Rs 55 crore in Q4 FY25, 20% up from Rs 46 crore in Q4 FY24. On a fiscal year basis, its profit increased to Rs 236 crore in FY25 from Rs 156 crore in FY24. At 15:31 PM today, its market cap stood at Rs 5,579 crore while the firm’s stock was trading at Rs 20.

Ecom Express records Rs 1,912 Cr revenue in first 9 months of FY25

EntrackrEntrackr · 5m ago
Ecom Express records Rs 1,912 Cr revenue in first 9 months of FY25
Medial

Ecom Express reported revenue from operations of Rs 1,912 crore during the first three quarters of FY25, according to an internal document reviewed by Entrackr. Ecom Express saw a dip in revenue alongside growth in losses. The company recorded Rs 2,653 crore in revenue for the full fiscal year FY24. Based on the current trajectory, Ecom Express is likely to close FY25 with around Rs 2,500 crore in revenue or possibly less. Ecom Express generated Rs 2,349 crore from courier services and Rs 260 crore from warehousing operations in the first nine months of FY25. The decline in revenue led Ecom Express to register a net loss of Rs 398 crore in the 9M FY25, compared to Rs 249 crore during FY24. Its adjusted EBITDA loss stood at Rs 104 crore in the first nine months of FY25. Before the acquisition, Ecom Express raised over $290 million. The discount sale of Ecom Express underscores the challenge of large logistics businesses with significant man-management requirements. Ecom Express has made progress with a strong leadership team in place.

Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25

EntrackrEntrackr · 8m ago
Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25
Medial

Fintech firm Paytm announced its financial results for the third quarter of the current fiscal year (Q3 FY25) on Monday. The Noida-based company reported revenue of Rs 1,828 crore and a net loss of Rs 208 crore for the period. According to Paytm’s unaudited consolidated quarterly report filed with the National Stock Exchange, its revenue from operations declined by 35.9% year-on-year from Rs 2,850 crore in Q3 FY24 to Rs 1,828 crore in Q3 FY25. However, on a quarter-on-quarter basis, the firm recorded a 10% increase in revenue compared to Q2 FY25 (the preceding quarter). Income from payment service revenue accounted for 55% of the total operating revenue which stood at Rs 1,003 crore in Q3 FY25 while the revenue from financial and marketing services were recorded at Rs 502 crore and Rs 267 crore in the same period. The company also added Rs 189 crore from other non-operating sources, bringing its overall revenue to Rs 2016.5 crore in Q3 FY25. For the fintech firm, its employee benefits remained the largest cost center accounting for 34% of the overall cost which decreased by 36% to Rs 756 crore in Q3 FY25. This includes Rs 182 crore as ESOP cost (non-cash). Its payment processing charges and marketing costs were reduced by 42% and 48.7% to Rs 570 crore and Rs 141 crore respectively in Q3 FY25 from Rs 982 crore and Rs 275 crore in Q3 FY24. Software, communication, legal, cashback, and other overheads took the total expenditure to Rs 2,220 crore in Q3 FY25 from Rs 3,216 crore in Q3 FY24. A reduction across all overhead departments enabled Paytm to narrow its losses by 6.3% to Rs 208 crore in Q3 FY25 from Rs 222 crore in Q3 FY24.

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%

EntrackrEntrackr · 6m ago
Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%
Medial

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83% Global edtech company Eruditus recorded modest year-on-year growth in its operating revenue, crossing the Rs 3,700 crore ($448 million) mark in the fiscal year ending June 2024. The Mumbai-based firm narrowed its losses by over 83% during the same period. Compared to FY23, the firm’s operating scale grew by 12% to Rs 3,733 crore, according to its annual financial statement sourced from Singapore. Eruditus follows a financial year that runs from July to June. The firm appears to be ahead of the leading edtechs, with revenue nearly 1.8 times that of PhysicsWallah and more than double that of upGrad. PhysicsWallah reported Rs 2,015 crore revenue in FY24 whereas upGrad registered Rs 1,487 crore revenue in the same period. Eruditus offers education across more than 80 countries to over a million learners. It partners with over 80 universities across the United States, Europe, Latin America, Southeast Asia, India, and China. The firm didn’t offer revenue break-up across geographies. The company deferred recognition of Rs 800 crore ($96 million) in collected revenue to the last fiscal year (FY25). Eruditus made progress in controlling its expenses as its marketing expenses dipped 18.85% year-on-year to Rs 1,007 crore in FY24 from Rs 1,241 crore in FY23. Other operating expenses were down by 32.16% year-on-year to Rs 1,045 crore in FY24 from Rs 1,541 crore in FY23. The cost optimizations led to a sharp improvement in the company’s bottom line. Eruditus narrowed its adjusted EBITDA losses by 83.45% to Rs 69 crore ($8.3 million) in FY24 from Rs 417 crore ($50 million) in FY23. With backing from investors such as TPG, the Chan Zuckerberg Initiative, SoftBank Vision Fund 2, Prosus Ventures, Accel, and Peak XV, Eruditus has the capital reserve to expand its presence and offerings across markets. In October 2024, it raised $150 million in the second-largest edtech deal of the year, after PhysicsWallah’s $210 million funding. With revenue approaching $500 million and an 83% reduction in losses, the company shows a path toward sustainable growth in the edtech industry. Heading into FY25 with deferred revenue, Eruditus is on track to achieve profitability while building on its revenue base.

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%

EntrackrEntrackr · 4m ago
Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%
Medial

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6% Logistics company Delhivery announced its Q4 FY25 results on Friday, reporting a 6% year-on-year increase in revenue. The Gurugram-based firm also reported a profit of Rs 72 crore during the same period. Delhivery’s revenue from operations grew to Rs 2,191 crore in Q4 FY25, according to its financial statements filed with the National Stock Exchange (NSE). For the full fiscal year (FY25), Delhivery’s operating revenue increased 10% to Rs 8,932 crore in FY25 from Rs 8,141 crore in FY24. Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 112 crore from non-operating activities, bringing its total revenue to Rs 2,303 crore in Q4 FY25. Meanwhile, for the full fiscal year, total income reached Rs 9,372 crore. For Delhivery, freight handling and servicing costs made up 70% of its total expenditure, rising by 3% to Rs 1,566 crore in Q4 FY25. Employee benefit expenses decreased by 6% to Rs 337 crore. Legal, depreciation, and other overhead costs contributed to a minor decrease in overall expenditure, which reached Rs 2,249 crore during the quarter. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 9,217 crore as against Rs 8,825 crore in FY24. Delhivery's continued growth and controlled expenditure resulted in a profit of Rs 72 crore in Q4 FY25, compared to a loss of Rs 68 crore in Q4 FY24. On a fiscal basis, it turned profitable and reported a net profit of Rs 162 crore in FY25 as compared to a loss of Rs 249 crore in FY24. At the close of today’s trading session, Delhivery’s share price stood at Rs 321 per share, giving the company a market capitalization of Rs 23,957 crore.

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