Top News

Shares of Smartworks Coworking Spaces moved higher in trade after the company reported a strong set of results, marked by a sharp turnaround in profitability and robust growth across key financial metrics.

The company reported a net profit of ₹16.6 crore for the quarter, compared to a loss of ₹8.3 crore in the same period last year, indicating a significant improvement in operational performance.

Revenue rose 45% year-on-year to ₹519.6 crore from ₹358.4 crore, driven by strong demand for managed office spaces and continued expansion across key markets. The sharp rise in topline was complemented by strong operating leverage.

EBITDA increased 45.6% to ₹338.2 crore from ₹232.3 crore in the year-ago period, while EBITDA margin saw a marginal expansion to 65.1% compared to 64.8% last year. The steady margin profile highlights the company’s ability to scale efficiently while maintaining profitability.

The turnaround to profitability, along with strong growth in revenue and EBITDA, reflects improving occupancy levels and better cost efficiencies in the flexible workspace segment, which continues to see rising demand from enterprises.

Following the results, the stock was seen trading higher in the market. Smartworks shares were up over 2% at ₹449, compared to the previous close of ₹439.05 on the NSE, with the stock also touching an intraday high of ₹475.

The performance underscores the company’s strong positioning in the managed office space segment, as corporates increasingly shift towards flexible and scalable workspace solutions.

About the company:

Smartworks is one of India’s leading managed office space providers, offering customised and fully serviced workspaces to large enterprises. The company focuses on large-format campuses and serves clients across sectors with end-to-end workspace solutions.