Smartworks Coworking Spaces Ltd

Smartworks Reports Strong FY26 Growth 📈 | Revenue Up 31%, Pan-India Expansion Underway

• Q4 FY26 revenue: ₹5,197 Mn (up 45% year-over-year)

• Full-year FY26 revenue: ₹17,958 Mn (up 31% from FY25)

• Normalized EBITDA for Q4: ₹987 Mn with 19% margin (up 71% YoY)

• Return on Capital Employed (RoCE): 22% in Q4 FY26 (vs. 15% in Q4 FY25)

• Total leased space: 16.1 million sq ft with mature occupancy at 89%

• Contracted revenue visibility: ₹52,000 Mn

• Enterprise clients contributed 92% of rental revenue in Q4

• Pan-India expansion across 15 cities, with major growth in Bengaluru (+100% SBA) and Gurugram (+83% SBA)

• GCC (Global Capability Center) growth contributed over 15% to rental revenue in FY26

• Net debt turned negative at -₹561 Mn in Q4 FY26

• Supply visibility secured for FY27 and beyond, with 35% from institutional developers like DLF and Hiranandani