Coworking space provider Smartworks reported its second consecutive profitable quarter, posting a consolidated net profit of ₹16.6 Cr in Q4 FY26. The company had reported a loss of ₹8.3 Cr in the year-ago quarter. Sequentially, profit rose 13.8x from ₹1.2 Cr.

Operating revenue zoomed 45% to ₹519.7 Cr from ₹358.4 Cr in Q4 FY25. On a quarter-on-quarter basis, it rose 10.1% from ₹472.1 Cr. Including other income of ₹13 Cr, total income stood at ₹532.7 Cr during the quarter under review.

The company’s EBITDA for the quarter zoomed 46% YoY to ₹338.3 Cr, while the EBITDA margin remained flat YoY at 65%. For context, the company’s depreciation cost for the quarter surged 45% YoY to ₹234.1 Cr.

Overall, total expenses grew 39.1% YoY to ₹510.5 Cr.

For the full fiscal year FY26, the company posted a net profit of ₹10.5 Cr against a loss of ₹63.2 Cr in FY25. Operating revenue zoomed 31% YoY to ₹1,795.8 Cr in FY26. 

“The company achieved three ‘first-evers’in FY26. Smartworks became the first listed flexible workspace platform in India to cross 10 Mn square feet of operational area, delivered its first full year of reported PAT profitability – ₹10 Cr versus a loss of ₹63 Cr in FY25, and crossed contracted rental revenue of ₹5,200 Cr,” cofounders Neetish Sarda and Harsh Binani said in the company’s shareholders letter for the quarter. 

In the March quarter, Smartworks’ total footprint zoomed 37% YoY to 16.1 Mn sq ft across 66 centres in 15 cities (including Singapore). The company claims that its occupancy rate stood at 93% at the end of the quarter.

At the end of quarter, Smartworks’ total client base stood at 770, with recent addition of clients like Zepto, Groww, Tracelink, among others.

For FY27, Smartworks expects strong revenue visibility, backed by contracted rental revenue of over ₹5,200 Cr, with more than 80% of the year’s revenue already secured. 

Shares of Smartworks ended today trading session 1.43% lower at ₹433.9 on the BSE.

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