Smartworks FY26 Revenue up 31% to ₹1,796 Cr; EBITDA up 75% to ₹314 Cr
Smartworks Coworking Spaces Ltd announced record financial results for FY26, its first full year as a listed entity. Revenue from operations surged 31% year-on-year to ₹1,796 Cr. Normalised EBITDA increased by 75% to ₹314 Cr, with margins expanding 440 basis points to 17.5%. The company achieved its first full year of reported PAT profitability at ₹11 Cr, a significant turnaround from a loss of ₹63 Cr in FY25. Normalised ROCE more than doubled to 16% for the year, up from 7.3% in FY25. Smartworks also became the first listed flexible workspace platform in India to exceed 10 million square feet of operational footprint and crossed ₹5,200 Cr+ in contracted rental revenue. The company ended FY26 with a net cash position of ₹56 Cr, having reduced gross debt by over 50% since its IPO. Q4 FY26 was its strongest quarter ever, with revenue at ₹520 Cr and reported PAT of ₹17 Cr.
Key Highlights
- FY26 revenue grew 31% to ₹1,796 Cr; normalised EBITDA rose 75% to ₹314 Cr.
- Achieved first full year PAT profitability of ₹11 Cr, reversing FY25 loss.
- Normalised ROCE more than doubled to 16% from 7.3% in FY25.
- Crossed 10 million sq ft operational footprint; secured ₹5,200+ Cr contracted rental revenue.
- Ended FY26 with net cash of ₹56 Cr; gross debt reduced over 50% since IPO.