Smartworks Coworking Spaces Ltd reported record FY26 revenue of ₹1,796 crore, a 31% year-on-year increase. The company achieved its first full fiscal year as a listed entity with profitability and expanded its Singapore operations.

Smartworks Coworking Spaces Ltd.

FY26 Revenue: ₹1,796 crore (31% YoY growth)

Reader Takeaway: Strong revenue growth and international expansion driven by demand from large enterprises.

What just happened

Smartworks Coworking Spaces Ltd announced its financial results for FY26, reporting a record revenue of ₹1,796 crore, marking a 31% year-on-year growth. This period also saw the company achieve its first full financial year as a listed entity and attain profitability.

Why this matters

These results highlight Smartworks' successful execution of its growth strategy, demonstrating its ability to scale operations and achieve profitability. The expansion into Singapore, a key financial hub, indicates a strategic move to cater to multinational corporations and global capability centers.

The backstory

For FY26, Smartworks' operational portfolio reached approximately 16.1 million sq. ft. across 66 centres in 15 cities. The company became the first listed flexible workspace operator in India to surpass the 10 million square feet operational mark during FY26. The recent expansion adds over 15,000 sq. ft. at Manulife Tower in Singapore, increasing its total footprint there to over 50,000 sq. ft.

What changes now

The company is poised to strengthen its market position by serving a wider range of clients, including Fortune 500 companies and GCCs, particularly in premium international locations like Singapore's Central Business District.

Risks to watch

As per company disclosures, business performance is subject to macro-economic conditions, competitive pressures, and execution challenges inherent in the managed workspace sector.

Peer comparison

Smartworks is positioned as India's largest managed office platform. The company's focus on serving large enterprises and expanding internationally distinguishes it in the competitive flexible workspace market.

Context metrics (time-bound)

• FY26 Revenue: ₹1,796 crore (31% YoY growth)
• Total Operational Portfolio (Mar 31, 2026): ~16.1 million sq. ft.
• Total Centres (Mar 31, 2026): 66 (across 15 cities)
• Client Count (FY26): 770+
• Singapore Footprint (New): > 15,000 sq. ft. (Total > 50,000 sq. ft.)

What to track next

Investors should monitor occupancy rates, the profitability of international centres, and the company's ability to maintain profit margins amidst ongoing expansion.