New Delhi: Smartworks Coworking Spaces Limited has officially crossed the 10 million square feet mark in its managed office portfolio, as the company records its first full financial year post listing. For the quarter ended March 31, the company has witnessed a 31% year on year (YoY) growth in revenue to ₹1,796 crore, as it looks to become one of the leading companies in the managed office space market.
As the company enters FY27, it has reached contractual revenue of ₹5,200 crore, offering long term visibility and financial stability to its business model.
The 10 Million Sq. Ft. Powerhouse
Unlike conventional co working spaces that cater mostly to freelancers, almost 90% of Smartworks’ portfolio is occupied by large enterprises, offering higher retention rates and longer lease tenures. The company has scaled up its portfolio across Hyderabad, Bengaluru, Delhi NCR, and Pune, with 1 million sq ft of managed office space in Mumbai alone.
The company has been partnering with developers to transform large, bare shell offices into fully managed, enterprise grade campuses. Besides this, Smartworks also offers multinationals an entire ecosystem of partners across legal, compliance, talent and operational support through its SmartVantage solution.
“FY26 was our first financial year as a listed company, and one where growth, profitability, and capital efficiency improved together. We delivered our strongest full-year performance, with revenue growing 31% to ¥1,796 crore, normalised EBITDA up 75%, and ROCE more than doubling to 16%. We also achieved full-year PAT profitability under Ind AS, reinforcing the durability of our model.
During the year, we became the first listed flex workspace platform in India to cross 10 million square feet of operational portfolio. With more than 5,200 Cr of contracted rental revenue, 100% of FY27 supply secured, and ~75% visibility already in place for FY28, we enter the next phase with strong forward visibility.
As enterprise demand continues to shift towards large, managed campuses, we are seeing sustained momentum in multi-city deployments. With supply secured ahead of demand and a platform built at scale, we are well positioned to sustain disciplined, capital-efficient growth.” Neetish Sarda, Founder and Managing Director, Smartworks, said in a press release.
