Smartworks Q4 Revenue Jumps 45% To ₹520 Crore, PAT At ₹17 Crore; Strongest Quarter On Record
· Free Press Journal
Mumbai: Smartworks Coworking Spaces Limited reported a 45 percent year-on-year surge in revenue from operations to Rupees 520 crore in Q4 FY26, marking its strongest quarterly performance since inception. The company posted a profit after tax of Rupees 17 crore, continuing its profitability trend, with revenue also rising 10 percent sequentially, reflecting sustained demand for managed office spaces and enterprise-led growth.
Key Market Expansion & Profitability
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The company’s quarterly performance was driven by strong occupancy and expansion across key markets. Revenue growth of 45 percent year-on-year indicates a sharp acceleration compared to prior periods, while the 10 percent quarter-on-quarter increase underscores consistent momentum. This comes alongside a second consecutive quarter of profitability, following earlier losses in previous financial periods.
Smartworks Hits 10 Million Sq Ft Milestone, Leading India’s Listed Flex Workspace MarketEBITDA And Capital Productivity
Operationally, Smartworks reported normalised EBITDA of Rupees 99 crore for the quarter, up 71 percent year-on-year, with margins expanding to 19.0 percent, an increase of 290 basis points over the corresponding period. Operating cash flow stood at Rupees 108 crore, with a conversion ratio of 1.1x EBITDA, indicating strong cash generation efficiency. Annualised return on capital employed (ROCE) improved to 21.5 percent, compared to 15.4 percent in Q4 FY25, highlighting enhanced capital productivity.
Revenue Expansion And Margin Improvement
Sequential growth was supported by continued enterprise demand, with occupancy levels and client additions contributing to revenue expansion. The company maintained disciplined cost structures, enabling margin improvement alongside scale benefits. The quarter also reflected improved cash flows, reinforcing operational stability.
Smartworks Expands Multi-City Deal To Over 5,000 Seats, Targets ₹155 Crore Rental RevenueEarnings Performance
For the full year FY26, Smartworks reported revenue of Rupees 1,796 crore, up 31 percent year-on-year, while normalised EBITDA rose 75 percent to Rupees 314 crore. The company achieved full-year profitability with a reported PAT of Rupees 11 crore, compared to a loss in FY25. This marks a significant turnaround in earnings performance.
The company ended FY26 with over Rupees 5,200 crore in contracted rental revenue, providing strong visibility for future growth. With expansion in operational footprint and increasing enterprise adoption, Smartworks continues to strengthen its position in the flexible workspace segment.
Disclaimer: This summary is based on company-released financial data and is not investment advice.