Smartworks Coworking Spaces Limited , a prominent player in the flexible workspace sector, has reported strong financial results for Q2 FY26, demonstrating significant growth and improved financial health.

Financial Highlights

Smartworks achieved impressive financial results in Q2 FY26:

• Revenue reached ₹4,248.00 million, representing a 21% year-on-year growth and a 12% sequential growth.
• Normalized EBITDA increased by 46% year-on-year to ₹696.00 million, with a margin of 16.4%.
• The company's net debt turned negative at ₹590.00 million, indicating a strong financial position.
• Operating cash flow reached ₹614.00 million.
• Since its IPO, Smartworks has reduced its gross debt by nearly 45%.

Operational Achievements

Smartworks continues to expand its portfolio and improve its operational metrics:

• Signed a landmark 815,000 sq.ft. campus at Eastbridge, Mumbai, becoming the world's largest managed office campus operated by any flex-space company globally.
• Total portfolio stands at 12.7 million sq.ft. across 14 cities.
• Operational footprint of 9.1 million sq.ft. across 54 centres.
• Serves 760 corporate clients, with 90% of rental revenue coming from large enterprises.
• Maintains an 81% overall occupancy rate.

Credit Rating Upgrade

Reflecting its improved financial performance, CareEdge Ratings upgraded Smartworks' rating to A- Stable from BBB+ Positive.

Future Outlook

With its strong financial results, expanded portfolio, and improved credit rating, Smartworks is well-positioned in the flexible workspace market. The company's focus on serving large enterprises and maintaining high occupancy rates suggests a stable revenue stream.

Smartworks Coworking Spaces Limited , India's largest managed office platform, has made a groundbreaking move in the flexible workspace sector. The company has signed an agreement for an expansive 815,000 square feet campus at Eastbridge, Mumbai, setting a new global record for the largest flexible workspace.

A Landmark Deal

Smartworks has licensed this massive space from Regalia Office Parks Private Limited, a part of the renowned Niranjan Hiranandani Group. This deal marks a significant milestone not just for Smartworks, but for the entire managed workspace industry globally.

Strategic Location and Connectivity

The new campus is strategically positioned in Vikhroli, Mumbai, offering excellent connectivity:

State-of-the-Art Amenities and Sustainability

The Eastbridge campus is designed to be a cutting-edge workspace with a focus on sustainability and employee well-being:

• WELL Certified Core
• Pre-certified IGBC Gold Green Building
• Pre-certified IGBC Gold Health & Well-being standards
• Green Energy initiatives
• Organic Waste Converter (OWC) system
• EV charging stations
• Rainwater harvesting
• Landscaped gardens and green buffers

A New Benchmark in Workspace Design

Neetish Sarda, Managing Director & Founder of Smartworks, emphasized the company's vision: "We continue to focus on creating spaces that provide enterprises with scale, sustainability, modern amenities, and an office experience that inspires productivity and collaboration."

The campus will feature:

• An entry plaza
• Amphitheatre
• Super-tree greenscape
• Yoga and meditation zones
• Jogging tracks
• Bicycle parking
• Miyawaki mini forest

Launch Timeline and Market Position

The Eastbridge campus is scheduled to launch in Q4 of 2026. This addition further solidifies Smartworks' position in the market:

Industry Outlook

This deal reflects the growing demand for flexible, large-scale workspace solutions in India's metropolitan areas. As companies continue to adapt to evolving work models, the flexible workspace sector is likely to see further growth and innovation.

The partnership between Smartworks and the Hiranandani Group for this record-breaking campus signals a strong vote of confidence in the future of managed workspaces and highlights the increasing importance of sustainability and employee well-being in modern office design.