Smartworks reports 44% revenue growth, targets 13 million sq. ft. operational footprint by FY27

Smartworks Coworking Spaces Limited has reported a strong start to the financial year, posting a 44% year-on-year increase in revenue for the quarter ended June 30, 2026. The managed office space provider recorded revenue from operations of ₹546 crore, reflecting sustained demand for flexible workspaces from large enterprises and Global Capability Centres (GCCs).

The company also reported a significant improvement in profitability, with normalised profit after tax nearly tripling to ₹39 crore during the quarter. Smartworks said the performance reflects continued expansion across India’s office market and growing demand for fully managed office campuses.

Looking ahead, the company has reiterated its guidance for FY2026-27 and plans to expand its operational footprint to between 12.5 million and 13 million sq. ft. by the end of the financial year. Smartworks currently operates more than 10 million sq. ft. across multiple cities and has secured a total footprint of nearly 16.9 million sq. ft., including signed properties under development.

One of the company’s biggest milestones will be the launch of Eastside in Pune during the second half of FY27. Spread across nearly 8.63 lakh sq. ft. at Kharadi, the campus is expected to become the world’s largest managed office campus when it becomes operational. Together with other upcoming projects, Smartworks plans to add between 2.2 million and 2.7 million sq. ft. of new office space over the coming months.

The company has already secured approximately ₹5,400 crore in contracted rental revenue, providing strong visibility for future earnings. According to Smartworks, expansion plans for FY27 and FY28 are fully committed, while work on projects planned for FY29 has already begun.

India’s flexible workspace sector continues to witness robust demand as enterprises increasingly prefer scalable, technology-enabled office solutions over conventional office leasing. Industry data shows managed workspace operators accounted for the largest share of office leasing activity during the April-June 2026 quarter, highlighting the sector’s growing importance in India’s commercial real estate market.

With a healthy expansion pipeline, rising enterprise demand and long-term contracted revenue, Smartworks remains well positioned to strengthen its leadership in India’s managed office space sector.