Smartworks Coworking Spaces Limited has disclosed a significant expansion of its operational footprint with the addition of 4,02,200 sq ft in Gurugram. This strategic capacity addition is scheduled to be completed within May 2026, as per the regulatory filing submitted to the exchanges.

Investment and Financing

The proposed expansion entails a total investment of INR 60.00 Crores. The company plans to fund this project through a mix of internal accruals and issue proceeds. The rationale behind this move is to support business growth and expand the company's operational presence in key markets.

Current Operational Metrics

As of March 31, 2026, the company manages a substantial portfolio. The existing leased capacity stands at 13.7 Million sq ft, while the operational capacity is recorded at 10.1 Million sq ft. The utilization of the operational capacity is currently at 82%, indicating strong demand for the company's offerings.

Capacity Addition Details

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new capacity will help the company cater to the growing demand for flexible workspace solutions in the region.

Smartworks Coworking Spaces Limited has officially announced the approval of its audited financial results for FY26 at a Board of Directors meeting held on April 30, 2026. The company delivered exceptional performance in its first financial year as a listed entity, achieving revenue from operations of ₹1,796 crore, representing 31% year-on-year growth, while normalised EBITDA surged 75% to ₹314 crore with an expanded margin of 17.5%. In a subsequent regulatory disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company filed the transcript of its analyst meet with both NSE and BSE on May 6, 2026, with the transcript available on its investor relations website.

Board Meeting and Regulatory Compliance

The Board of Directors meeting commenced at 09:30 A.M. (IST) and concluded at 10:28 A.M. (IST) on April 30, 2026. The board approved the audited standalone and consolidated financial statements for the quarter and financial year ended March 31, 2026, along with statutory audit reports. Deloitte Haskins & Sells LLP, the company's statutory auditors, issued audit reports with unmodified opinion on the annual audited financial results. Following the board meeting, an analyst meet was conducted through audio means, commencing at 04:00 P.M. (IST) and concluding at 05:05 P.M. (IST) on the same day, covering the audited standalone and consolidated financial statements and results along with the auditor's report. The transcript of the analyst meet was subsequently filed with the stock exchanges on May 6, 2026, by Company Secretary & Compliance Officer Punam Dargar (Membership No.: A56987).

FY26 Financial Performance Highlights

The company achieved three significant milestones during the fiscal year, becoming the first listed flexible workspace platform in India to cross 10 million square feet of operational area, delivering its first full year of reported PAT profitability at ₹11 crore versus a loss of ₹63 crore in FY25, and crossing contracted rental revenue of ₹5,200 crore. The return on capital employed (ROCE) improved substantially to 16.0% from 7.3% in FY25.

Q4 FY26 Quarterly Performance

The fourth quarter marked the strongest performance in company history, with revenue from operations reaching ₹520 crore, up 45% year-on-year and 10% quarter-on-quarter. Normalised EBITDA for Q4 stood at ₹99 crore, up 71% year-on-year with margin at 19.0%, representing a 290 basis points expansion. The company reported PAT of ₹17 crore for the quarter, marking the second consecutive quarter of reported profitability.

Operational Milestones and Market Position

The company's total footprint reached 16.1 million square feet including letters of intent and term sheets across 66 centres in 15 cities including Singapore, representing 37% year-on-year growth. Operational area stood at 10.1 million square feet, making it the first listed flex platform in India to cross this milestone. Mature centre occupancy remained strong at 89%, with committed mature occupancy at 93% and overall occupancy at 82%.

The enterprise client base expanded to 770+ clients with 90%+ of rental revenue coming from enterprise clients. Multi-city client revenue accounted for approximately 31% of rental revenue, while the top 10 client concentration has halved over seven years from 39% in FY19 to 20% in FY26.

Capital Structure and Future Outlook

Smartworks closed FY26 with a net debt-negative position of ₹56 crore net cash, ending the year with cash and bank balances exceeding gross debt. Contracted rental revenue exceeding ₹5,200 crore provides multi-year forward visibility, covering approximately 82.5% of projected revenue for FY27. The company has secured 100% of FY27 supply visibility and approximately 75% visibility for FY28, positioning it well for sustained growth.