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Smartworks cuts losses by 81% in Q2 FY26; posts Rs 425 Cr revenue

EntrackrEntrackr · 2m ago
Smartworks cuts losses by 81% in Q2 FY26; posts Rs 425 Cr revenue
Medial

Smartworks cuts losses by 81% in Q2 FY26; posts Rs 425 Cr revenue Managed office space provider Smartworks has posted its quarterly results for the second quarter of the ongoing fiscal year. The firm recorded a sharp 81% cut in losses during Q2 FY26 alongside double-digit revenue growth. Smartworks’ revenue from operations rose 21% year-on-year to Rs 425 crore in the quarter ending September 2025 from Rs 350 crore in Q2 FY25, according to its unaudited consolidated financial statements filed with the National Stock Exchange (NSE). Smartworks generated most of its revenue from developing, designing, and licensing serviced office spaces and fit-out services, with additional income from other ancillary offerings. It also booked Rs 16 crore from non-operating activities, pushing total income to Rs 441 crore in the quarter, compared to Rs 361 crore in Q2FY25. On a half-yearly basis, revenue was up nearly 21% to Rs 804 crore in H1 FY26 from Rs 664 crore in H1 FY25. On the cost front, depreciation remained the largest expense at Rs 198 crore, followed by operating expenses of Rs 122 crore. Finance costs, employee benefits, and marketing took the total expenditure to Rs 445 crore, compared to Rs 382 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 3 crore in Q2 FY26 from Rs 16 crore a year ago. For the six months ended September 2025, its losses were down by 82% to Rs 7 crore in H1 FY26 from Rs 39 crore in H1 FY25. 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 596, valuing the company at Rs 6,818 crore (approximately $769 million). Smartworks competes with Awfis, which went public in May 2024 and currently trades at Rs 595. Awfis posted Rs 355 crore in revenue and Rs 10 crore in net profit in Q1 FY26. The company is yet to file its return for the second quarter.

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

EntrackrEntrackr · 6m 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.

Smartworks posts Rs 472 Cr revenue in Q3 FY26; turns profitable

EntrackrEntrackr · 16d ago
Smartworks posts Rs 472 Cr revenue in Q3 FY26; turns profitable
Medial

Managed office space provider Smartworks has posted its quarterly results for the third quarter of the ongoing fiscal year. The firm turned profitable during Q3 FY26 alongside double-digit revenue growth. Smartworks’ revenue from operations rose 34% year-on-year to Rs 472 crore in the quarter ending December 2025 from Rs 352 crore in Q3 FY25, according to its unaudited consolidated financial statements filed with the National Stock Exchange (NSE). Smartworks generated most of its revenue from developing, designing, and licensing serviced office spaces and fit-out services, with additional income from other ancillary offerings. It also booked Rs 16 crore from non-operating activities, pushing total income to Rs 488 crore in the quarter, compared to Rs 364 crore in Q3 FY25. For the nine months period, Smartworks’ revenue was up 26% to Rs 1,276 crore from Rs 1,016 crore, a year earlier. On the cost front, depreciation remained the largest expense at Rs 223 crore, followed by operating expenses of Rs 132 crore. Finance costs, employee benefits, and marketing took the total expenditure to Rs 486 crore, compared to Rs 445 crore in the same quarter last year. The decent growth in scale and cost control mechanisms helped the firm to gain profitability of Rs 1.2 crore in Q3 FY26 from a loss of Rs 16 crore a year ago. Smartworks listed on the NSE in July last year at Rs 435 per share, a 7% premium to its IPO price of Rs 407. The stock closed at Rs 474 on the last trading session, valuing the company at Rs 5,416 crore (approximately $599 million).

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