Results · Professional & Local Services

Smartworks reports first quarterly profit after listing

By Startup Enthusiast · 15 January 2026

What they do

Smartworks provides managed office spaces for corporate clients across India and Singapore

The company posted a net profit of Rs 1.2 crore in Q3 FY26 with revenue up 34%

This marks the first quarterly profit since its July 2025 NSE listing at Rs 435 per share

Smartworks reported a net profit of Rs 1.2 crore for Q3 FY26.
This is a significant turnaround from a loss of Rs 16 crore in the same period last year.
Operating revenue grew 34% year-on-year to reach Rs 472.1 crore.
Total income stood at Rs 488.2 crore including other income of Rs 16 crore.
Total expenses increased by 26% year-on-year to Rs 486.6 crore.
Normalised EBITDA reached a record Rs 85 crore with an 18% margin.
Normalised operating cash flow was approximately Rs 101 crore.
The company maintains a net-debt-negative balance sheet with a surplus of Rs 42 crore.

This result marks the first quarterly profit since the company listed on the NSE in July 2025.
The stock traded at Rs 474 giving a market cap of Rs 5,416 crore.
Profitability signals improved operational efficiency in the managed office sector.
Strong cash flow generation supports future expansion plans.

Smartworks operates as a managed office space provider.
It claims to be the largest provider by area under management.
Revenue comes from developing designing licensing serviced offices fit-out services and ancillary offerings.
Clients include BFSI consulting technology and global services sectors.
The company serves over 770 corporate clients globally.
It operates 63 centres across 15 cities in India and Singapore.
Total footprint covers 15.3 million square feet of space.
Committed occupancy at mature centres stands at approximately 93%.
Monthly revenue run-rate is around Rs 150 crore.