Business Update30 Apr 2026, 01:11 pm
Smartworks Coworking Spaces: Shareholders' Letter Dated April 30, 2026
AI Summary
Smartworks Coworking Spaces Ltd has released a shareholder's letter dated April 30, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The letter, signed by Company Secretary Punam Dargar, highlights the company's performance in FY26, noting that revenue growth, margin expansion, and operating cash flows exceeding EBITDA targets were met. It also mentions India's office market absorption and the increasing role of GCCs and flex operators in leasing activity.
Key Highlights
- Smartworks met commitments for revenue growth, margin expansion, and operating cash flows in FY26.
- India's office market absorbed 82.6 million square feet in 2025.
- GCCs accounted for 44% of Grade A leasing nationally.
- Flex operators emerged as the largest leasing segment in Q1 2026, with 23% absorption.