Smartworks Coworking Spaces Ltd on Tuesday reported a narrowing in its consolidated net loss to Rs 4.19 crore for the first quarter of FY26. Its net loss had stood at Rs 23 crore in the year-ago period.
The company’s total income, however, rose to Rs 387.98 crore during the April-June period of 2025-26 against Rs 323.15 crore a year ago, according to a regulatory filing.
During the 2024-25 fiscal, Smartworks Coworking Spaces had posted a net loss of Rs 63.17 crore on a total income of Rs 1,409.66 crore.
Smartworks Coworking Spaces, which got listed recently on stock exchanges, is one of the leading co-working centre operators in the country.
“The majority of expansion in the portfolio is expected to mature in H226, further driving revenue growth and margin expansion,” Smartworks said in a statement.
Its Ebitda stood at Rs 241 crore, up 25.5% year-on-year, delivering a margin of 63.6%. On a normalised basis adjusting for accounting provision, EBITDA rose to Rs 607 million, a 109% YoY increase, with a margin of nearly 16%, driven by disciplined cost management and operating leverage.
“The company’s portfolio reached 10.08 million sqft. of leased space as of June 30, 2025, with 0.70 million sq. ft. under fit-out and 1.07 million sq. ft. scheduled for handover in Q2 and Q3. Including signed LOIs, the company’s total SBA stands at ~12 million sq. ft. Since FY19, Smartworks has added 8.6 million sq. ft. across major cities including Pune, Bengaluru, Hyderabad, and Mumbai,” it said.
Neetish Sarda, managing director of Smartworks, said, “We are pleased to report a strong quarterly performance, driven by continued momentum across revenue, EBITDA, and operating efficiency. Our revenue growth this quarter reflects a combination of robust, sustained demand from enterprise clients and the deliberate capacity expansion we executed over the past year. By adding over 1 million sqft of new supply, we not only strengthened our footprint in key markets but also positioned ourselves to capture incremental demand quickly.”
Normalised EBITDA doubled to Rs 60.7 crore in Q1FY26 from Rs 29 crore in Q1FY25. During the quarter, normalised EBITDA margins have improved to 16% as compared to 9.3% in Q1 FY25, reflecting the strength of our asset-light, enterprise-focused model and the inherent scalability of our managed campus platform, Sarda added.
Shares of Smartworks Coworking Spaces on Wednesday fell by 1.78% to close at Rs 457.55 apiece on the NSE.
