Whalesbook
Smartworks Coworking Spaces Ltd has announced its audited financial results for the fiscal year ending March 31, 2026. The company reported a consolidated Profit After Tax (PAT) of ₹10.53 crore (₹105.28 million) and a standalone PAT of ₹7.01 crore (₹70.13 million) for the period.
The company's Board of Directors met on April 30, 2026, to approve these audited financial results. Deloitte Haskins & Sells LLP provided an unmodified audit opinion on the annual results for FY26.
The approval of audited annual results by Deloitte Haskins & Sells LLP offers stakeholders a reliable assessment of the company's performance. The ongoing use of IPO proceeds indicates continued investment in growth strategies.
Smartworks, a key player in India's flexible workspace sector, has been actively deploying capital from its Initial Public Offering (IPO). By March 31, 2026, the company had used approximately ₹304.78 crore for capital expenditures on new centre fit-outs, security deposits, and general corporate purposes.
The release of audited figures provides shareholders with clearer insight into the company's FY26 financial standing. Future attention will be on the efficient deployment of the remaining ₹140.22 crore in IPO funds for expansion and value creation.
The audit report noted that consolidated financial results incorporate figures from three subsidiaries audited by other firms. Management's reliance on these external audits was highlighted. The report also stated that quarterly financial result reviews involve a scope less than a full audit, meaning not all significant matters may be identified.
Smartworks competes in a dynamic market with listed entities such as Awfis Space Solutions Ltd. Awfis reported a Profit After Tax of ₹47.7 crore for FY24.
The company also reported a consolidated Profit After Tax of ₹166.24 million (₹16.62 crore) for the fourth quarter of fiscal year 2026.