Smartworks Reports ₹25.64 Crore Profit as Q2 Revenue Rises 37% to ₹605 Crore

Smartworks Coworking Spaces has reported a significant improvement in its financial performance for the second quarter of FY27, moving into profitability as demand for managed office spaces continues to support its expansion. The company posted a consolidated net profit of ₹25.64 crore for the quarter ended September 2026, compared with a net loss of ₹3.13 crore in the corresponding period last year.

Revenue growth remained strong during the quarter. Total income increased 37% year-on-year to ₹605.3 crore from ₹441.06 crore in the second quarter of the previous financial year. The improvement reflects the company’s growing business across flexible workspaces, managed offices and enterprise-focused workplace solutions.

The latest results come as Smartworks steps up its expansion plans across major commercial markets. The company currently operates a portfolio spanning approximately 17.5 million sq. ft. across 71 centres in 15 cities in India and Singapore. Its client base includes multinational corporations, Indian conglomerates, Fortune 500 companies and Global Capability Centres (GCCs).

Founder and Managing Director Neetish Sarda said the company had delivered a strong first-half performance and was progressing ahead of its original FY27 business plan. He attributed the growth to sustained demand, expansion by existing clients across multiple cities and new business from global enterprises and Indian companies.

Reflecting the stronger demand outlook, Smartworks has raised its FY27 revenue growth guidance to 35%, compared with its earlier projection of 28%. The company is also targeting an increase in its operational footprint from 10 million sq. ft. to 13 million sq. ft. by the end of the financial year.

New centres are reportedly attracting pre-leasing interest faster than anticipated. Two large facilities, Eastbridge and East Side, each measuring around 8 lakh sq. ft., are scheduled to become operational in the final quarter of FY27.

Despite the planned capacity additions, Smartworks expects portfolio occupancy to remain around 80–81% by the end of FY27. Its mature centres are already operating at approximately 91% occupancy.

Global Capability Centres are becoming an increasingly important contributor to the business. GCCs currently account for 22% of Smartworks’ portfolio, compared with single-digit levels a year ago. The company expects their contribution to increase further as international businesses expand their operations in India.

With ₹5,800 crore in contracted revenue already secured, Smartworks has visibility over future business. Its ability to convert new capacity into occupied workspaces and sustained earnings will remain important as it pursues its next phase of expansion.