Results · Enterprise Software & IT

Smartworks reports first full year profit with strong revenue growth

By Startup Enthusiast · 30 April 2026

What they do

Smartworks is a flexible workspace platform that develops and manages serviced office spaces for businesses across multiple cities

The company posted its first full-year net profit of ₹10.5 Cr in FY26, driven by 31% revenue growth to ₹1,795.8 Cr

Secured contracted rental revenue over ₹5,200 Cr provides high visibility for FY27 earnings despite rising depreciation costs

Smartworks reported its Q4 FY26 results, marking the second consecutive profitable quarter.
The company achieved a net profit of ₹16.6 Cr in Q4, compared to a loss of ₹8.3 Cr in the same period last year.
This represents a 13.8x sequential profit growth from the previous quarter's ₹1.2 Cr.
Operating revenue grew 45% year-on-year to ₹519.7 Cr in Q4 FY26.
Full-year FY26 operating revenue reached ₹1,795.8 Cr, showing 31% YoY growth.
Smartworks recorded its first full year of PAT profitability with a net profit of ₹10.5 Cr against a loss of ₹63.2 Cr in FY25.
EBITDA margins stood at 65% in Q4, with EBITDA growing 46% YoY to ₹338.3 Cr.
Depreciation costs surged 45% YoY to ₹234.1 Cr, reflecting significant lease-related expenses.

Smartworks is the first listed flexible workspace platform in India to cross 10 Mn sq ft operational area.

Smartworks develops, designs, and licenses serviced office spaces for corporate clients.
The company offers fit-out services and ancillary offerings alongside core workspace solutions.
It operates 66 centres across 15 cities, including Singapore.
Total footprint reached 16.1 Mn sq ft by end of Q4, up 37% YoY.
Occupancy rate was 93% at the end of Q4 FY26.
The client base expanded to 770 clients by the end of Q4.
Recent notable clients include Zepto, Groww, and Tracelink.
Revenue is generated through leasing, development fees, and value-added services.
Largest expense item is depreciation related to leased properties, totaling ₹234 Cr in Q4.

FY27 revenue visibility is backed by contracted rental revenue exceeding ₹5,200 Cr.