Smartworks Coworking Spaces Limited has announced significant achievements for the fiscal year 2026, highlighting its success in meeting and surpassing key business commitments. The company reported a contracted rental revenue exceeding ₹5,200 crore, marking a milestone as the first listed flexible workspace platform in India to achieve this feat.
The company’s annual performance was bolstered by the absorption of 82.6 million square feet in India’s office market during 2025, with flexible workspace operators capturing 23% of all absorption in the first quarter of 2026. This trend underscores a structural shift in the workspace industry, where enterprises are increasingly viewing workspace decisions as integral to their core operations rather than mere real estate choices.
Smartworks achieved several ‘first-evers’ in FY26, including crossing the 10 million square feet mark in operational area and reporting its first full year of profitability with a profit after tax of ₹10 crore, compared to a loss of ₹63 crore in FY25. The company’s enterprise relationships have deepened, with a growing share of revenue coming from clients expanding across multiple cities and sectors such as BFSI and global services joining technology as major demand drivers.
The company’s GCC-focused platform, SmartVantage, has moved from concept to active client pipeline, reflecting the increasing importance of global capability centres in driving demand for flexible workspaces. Looking forward, Smartworks remains committed to responsible growth, disciplined capital deployment, and strengthening enterprise relationships to ensure sustainable, long-term returns.
With 10.8 million square feet of centres maturing through FY27, Smartworks is poised for continued improvement, supported by its robust contracted rental revenue. The company emphasises building for long-term success rather than focusing on short-term gains, with a vision to craft and manage workspaces that inspire greatness.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).