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

EntrackrEntrackr · 3m 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 · 2m 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 · 3m 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.

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 13h ago
Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25
Medial

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25 Innoviti Technologies reported 35% year-on-year revenue growth for the fiscal year ending March 2025. However, its losses remained high at Rs 62 crore, despite an 11% YoY reduction in FY25. The company’s operating revenue increased to Rs 143 crore in FY25 from Rs 106 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Innoviti provided payment gateway and PoS devices to merchants for processing online and card-based payments. Service fees from these offerings contributed 86% of its revenue, which rose 47% to Rs 123 crore in FY25 from Rs 84 crore in FY24. The remaining 14% came from lease rentals, which stood at Rs 19 crore during the same period. Including other non-operating activities such as treasury gains, its total income rose marginally to Rs 144 crore during FY25. Innoviti’s total expenses grew 15% to Rs 207 crore in FY25 from Rs 180 crore a year ago, largely guided by a sharp increase in subvention and service fees which accounted for 40% of the total cost. This cost surged 88% to Rs 82.5 crore in FY25 from Rs 44 crore in FY24. Employee benefit expenses, however, declined 19% to Rs 43 crore in FY25 from Rs 53 crore in FY24. On the other hand, depreciation costs rose 32% YoY to Rs 33 crore from Rs 25 crore in FY24. Other expenses, sub-contractor charges and overheads added the rest Rs 49 crore. In the end, Innoviti narrowed its net loss by 11% to Rs 62 crore in FY25, against Rs 70 crore in FY24. The company’s EBITDA loss stood at Rs 26 crore with EBITDA margin improving to -18.2% from -32.1%. Its ROCE margin stood at -62.77% in the same period. On the balance sheet front, Innoviti’s total assets remained stable at Rs 128 crore, with current assets of Rs 100 crore in FY25, including Rs 41 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Innoviti has raised a total of $158 million of funding till date, having Bessemer Venture Partners and FMO as its lead investors. The Noida-based company’s founder Rajeev Agrawal owns 10% of the company. Earlier this year, Agrawal said the company aimed to achieve operating profitability within the next two quarters. He also mentioned that IPO planning had begun, with a target to go public within the next 12 months.

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 · 6m 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.

Tractor Junction revenue crosses Rs 100 Cr in FY25

EntrackrEntrackr · 13d ago
Tractor Junction revenue crosses Rs 100 Cr in FY25
Medial

Tractor-focused marketplace Tractor Junction maintained a strong momentum in FY25, with operating revenue jumping 1.7X to cross the Rs 100 crore milestone, following a 2.3X jump in the previous fiscal year. Tractor Junction’s operating revenue surged over 70% to Rs 106.43 crore in FY25 from Rs 62 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Tractor Junction is a rural vehicle marketplace that facilitates buying, selling, financing, and insuring new and used tractors, farm equipment, and rural commercial vehicles. It also offers verified reviews and price comparisons to ensure transparency for users. Sales of tractors and equipment contributed 80% of Tractor Junction’s total revenue and rose nearly 90% to Rs 85.14 crore in FY25. The remaining Rs 21.29 crore came from services, including financing and other related offerings. The company claims that its financial services grew 10 times in FY25, and its used vehicle business grew 1.8 times, supported by 65 COCO outlets in Rajasthan, Madhya Pradesh, and Maharashtra. Tractor Junction also earned Rs 12.44 crore in non-operating revenue, including commission income and interest on fixed deposits, taking its total income to Rs 118.8 crore in FY25. The cost of materials accounted for 63% of total expenses which rose 86% to Rs 80.26 crore in FY25. Employee benefit expenses grew 47% to Rs 22 crore, while advertising, contract wages, RTO, insurance, and other costs drove total expenses up 75% to Rs 127.53 crore from Rs 72.7 crore in FY24. Tractor Junction’s total expenses grew faster than its revenue, primarily due to higher material costs, leading the Alwar-based company to post a loss of Rs 9.08 crore in FY25, which increased 2.5X from Rs 3.67 crore in FY24. Its EBITDA margin and ROCE stood at -18.03% and -70.3%, respectively. On a unit basis, it spent Rs 1.2 to earn a rupee of operating revenue in FY25. As of March 2025, the company’s current assets stood at Rs 70.43 crore, including cash and bank balances of Rs 13.76 crore. The company aims for another double-digit revenue growth in FY26, expand its COCO outlet network to 100, and focus more on profitability. According to startup data intelligence platform TheKredible, Tractor Junction has raised around $6 million to date, including a $5.7 million seed round in April 2022 co-led by Info Edge Ventures and Omnivore.

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

EntrackrEntrackr · 9m 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.

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