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Latest news about Smartworks Coworking Spaces

Smartworks Coworking Spaces Secures CARE A- (Stable) Rating Reaffirmation Nov 22, 2025

CARE Ratings has reaffirmed Smartworks Coworking Spaces Limited's (SCSL) credit ratings, maintaining CARE A- (Stable) for long-term and CARE A1 for short-term bank facilities. The company showed improved operations with total operating income increasing by 31.99% to ₹1,375.27 crore in FY2025. SCSL's successful IPO in July 2025 strengthened its financial profile, reducing adjusted overall gearing to 0.5x. The company maintains an 83% occupancy rate and operates across multiple cities with a diverse client base.

Smartworks Secures Major Lease Deal with Wolters Kluwer in Pune Nov 17, 2025

Smartworks Coworking Spaces Secures Two-Notch Credit Rating Upgrade Nov 07, 2025

Smartworks Reports 21% Revenue Growth, Achieves Negative Net Debt Position Nov 06, 2025

Smartworks Secures World's Largest Flexible Workspace Campus in Mumbai Nov 03, 2025

More news about Smartworks Coworking Spaces

01Oct 25

Smartworks Shareholders Approve Key Leadership Changes and Appointments

Smartworks Coworking Spaces Limited held its 10th Annual General Meeting, approving several significant changes. Ho Kiam Kheong was appointed as Non-Executive Director, while Neetish Sarda was re-appointed as Managing Director for a five-year term. The company also appointed M/s. SBYN & Associates LLP as Secretarial Auditor for five years. Other approved resolutions included adoption of financial statements, re-appointment of Harsh Binani, revision of remuneration for key executives, ratification of ESOP 2022, and approval of consultancy services from Atul Gautam. Shareholders showed strong support for these changes, with key appointments receiving over 98% approval.

29Sept 25

Smartworks Unveils 'Smartvantage' to Boost Global Capability Centers in India

Smartworks Coworking Spaces Limited introduces 'Smartvantage', a comprehensive service designed to support Global Capability Centers (GCCs) in India. The offering includes large-format campuses, multi-city continuity, rapid deployment within 60 days, and a curated partner network. Smartvantage aims to enhance operational resilience, foster innovation, and provide strategic value for GCCs. The service offers customizable spaces, pan-India presence, and modern amenities to attract and retain top talent. Smartworks currently serves over 730 clients, including major enterprises like Google and EY.

17Sept 25

Smartworks Expands Mumbai Footprint with 557,000 Sq. Ft. Campus at Intellion Park

Smartworks Coworking Spaces Limited has established its largest campus in Mumbai, spanning 557,000 sq. ft. at Intellion Park in Navi Mumbai. This expansion pushes Smartworks' total leased portfolio in Mumbai beyond 1 million sq. ft. The facility, located on Thane Belapur Road, is set to become part of Navi Mumbai's largest IT Park. It has secured pre-certifications including LEED Platinum, IFC Edge, and WELL Gold, featuring eco-friendly amenities. The campus caters to enterprise clients with comprehensive amenities. Smartworks now operates four large campuses exceeding 500,000 sq. ft. each across India, with a total footprint of approximately 12 million sq. ft. across 14 cities in India and Singapore, serving over 730 clients.

03Sept 25

Smartworks Stock Surges 29% Post-IPO on Robust Q1 Results and Expansion Plans

Smartworks Coworking Spaces has seen a 29% increase in stock price since its IPO on July 17, with an additional 12.5% boost following Q1 results announcement. Q1 revenue grew 21% YoY to ₹379.20 crore, while net loss reduced to ₹4.20 crore from ₹23.00 crore. The company's normalized EBITDA margin improved to 16% from 9.30%. Smartworks plans to expand from 8.3 million to 12 million square feet, increasing seat capacity from 190,000 to 275,000. The company projects 30% YoY revenue growth, reflecting positive investor sentiment in the flexible workspace sector.

29Aug 25

Supreme Court Dismisses NGO's Appeal Against Smartworks Coworking, Issues Stern Warning

The Supreme Court of India has dismissed a civil appeal filed by NGO Infrastructure Watchdog against Smartworks Coworking Spaces Limited, upholding the Securities Appellate Tribunal's earlier order. The Court warned against presenting false evidence to mislead the judiciary. Despite these legal challenges, Smartworks' IPO was oversubscribed 13.45 times, with the QIB category seeing a 24.4 times oversubscription. Neetish Sarda, Managing Director & Founder of Smartworks, stated that the verdict reaffirms the company's reputation for transparency, governance, and integrity.

26Aug 25

Smartworks Coworking Spaces Reduces Stake in Clean Max DOS to 9.08%

Smartworks Coworking Spaces Limited has completed the dilution of its stake in Clean Max DOS Private Limited, reducing its shareholding from 24.82% to 9.08%. The company received INR 99,07,807 from the transaction. The buyer, Clean Max Enviro Energy Solutions Limited, is not related to Smartworks' promoter or group companies. The transaction complies with SEBI regulations and is not considered a related party transaction.

25Aug 25

Supreme Court Dismisses Appeal Against Smartworks IPO, Clearing Legal Hurdle

The Supreme Court of India dismissed an appeal challenging Smartworks Coworking Spaces Limited's initial public offering (IPO) on August 25, 2025. The appeal, filed by Infrastructure Watchdog against a Securities Appellate Tribunal (SAT) order, was related to the company's IPO disclosed in its July 14, 2025 prospectus. This dismissal removes a significant legal obstacle for Smartworks' IPO plans, potentially allowing the company to proceed with its public offering.

22Aug 25

Smartworks Coworking Reduces Stake in Clean Max, Ending Associate Company Status

Smartworks Coworking Spaces Limited has reduced its ownership stake in Clean Max DOS Private Limited from 24.82% to 9.08%. The transaction, completed on August 21, 2025, resulted in Clean Max no longer being classified as an associate company of Smartworks. The stake was sold to Clean Max Enviro Energy Solutions Limited for INR 99,07,807.00. This move changes Clean Max's status under SEBI regulations and is expected to be finalized within a week of the agreement date.

19Aug 25

Smartworks Reports 21% Revenue Growth and 109% Jump in Normalized EBITDA in Q1

Smartworks Coworking Spaces Limited reported robust Q1 FY24 results with revenue reaching INR 3,792 million, up 21% year-over-year. Normalized EBITDA surged 109% to INR 607 million, with margin expanding to 16%. The company's operational area stood at 8.3 million square feet with 83% occupancy. Smartworks added 5,900 seats, bringing total occupied seats to 158,500. The company aims to expand from 190,000 to 275,000 operational seats in the next 4-5 quarters, targeting an annual addition of 30,000-40,000 seats. Post-IPO, Smartworks is in a net debt-negative position, expecting debt levels to become negligible over the next two years.

14Aug 25

Smartworks Coworking Spaces Provides Update on Supreme Court Litigation

Smartworks Coworking Spaces Limited has provided an update on ongoing litigation related to its IPO. The Supreme Court of India has adjourned the hearing of an appeal by Infrastructure Watchdog to August 18, 2025. The company's promoters are parties to the case. This voluntary disclosure, made in compliance with SEBI regulations, demonstrates the company's commitment to transparency. Smartworks has promised to provide further updates on substantial developments in the matter.

12Aug 25

Smartworks Reports Strong Q1 FY26 Performance with 21% Revenue Growth and Doubled EBITDA

Smartworks Coworking Spaces Limited reported robust Q1 FY26 results. Revenue increased 21% YoY to INR 3,792.00 million. Normalized EBITDA more than doubled to INR 607.00 million, with margin expanding to 16.00%. The company's portfolio reached 10.08 million square feet of leased space, with occupancy above 83%. Enterprise clients comprise 90.49% of the portfolio. Smartworks operates in 15 cities with 54 leased centers and a total capacity of 232,000 seats. The company has over INR 40,000.00 million in committed revenue, providing strong future cash flow visibility.

06Aug 25

Smartworks Coworking Spaces Updates Supreme Court Hearing Date for IPO-Related Appeal

Smartworks Coworking Spaces Limited has announced a change in the Supreme Court hearing date for an appeal related to its IPO. The hearing, previously set for August 8, 2025, is now rescheduled to August 14, 2025. This appeal was filed by Infrastructure Watchdog before the Securities Appellate Tribunal. The company's promoters are parties to the case. Smartworks has made this voluntary disclosure in compliance with SEBI regulations, emphasizing transparency in the ongoing legal proceedings surrounding its IPO.

22Jul 25

Smartworks Coworking Spaces Provides Update on Supreme Court Litigation Related to IPO

Smartworks Coworking Spaces Limited is involved in ongoing litigation related to its IPO, with the case currently pending in the Supreme Court. The appeal, filed by Infrastructure Watchdog, is scheduled for the next hearing on August 4, 2025. The company's promoters, including Neetish Sarda, NS Niketan LLP, and SNS Infrarealty LLP, are parties to the case. Smartworks has disclosed this information in compliance with SEBI regulations, demonstrating transparency to investors and stakeholders.