| Market Cap | ₹5,541.76 CrMid-cap |
|---|---|
| PE Ratio | 198.82Sector 33.81 |
| RSI | 50.32Neutral Zone |
| Promoter Holding | 58.26%Quarterly change -0.06% |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 591 | 546 | 425 |
| Other Income | 13.9 | 13.4 | 16.3 |
| Total Income | 605 | 560 | 441 |
| Profit Before Tax | 34.9 | 17.6 | -4.4 |
| Net Profit | 25.6 | 13.1 | -3.1 |
| Operating Margin | 5.8% | 3.1% | -1.0% |
| Net Profit QoQ | +95.4% | ||
| Net Profit YoY | +925.8% | ||
| Adj. Profit QoQ | +400.0% | ||
| Adj. Profit YoY | +201.4% | ||
Key highlights
- Net profit reached ₹25.6 crore in Q2-27, marking a 95.4% sequential increase from ₹13.1 crore
- Consolidated revenue from operations rose 39% year-on-year to ₹591 crore
- Operating margins improved to 5.8% from 3.1% in the preceding quarter
- Profit before tax climbed to ₹34.9 crore, reversing a ₹4.4 crore loss in Q2-26
- Company reported new managed office client deals worth ₹305 crore as of September 30, 2026
Managed Office Expansion Drives 39% Topline Growth
Smartworks Coworking Spaces Ltd. reported consolidated revenue from operations of ₹591 crore for the quarter ended September 30, 2026, representing a 39% increase from ₹425 crore in the prior year. This topline growth follows a period of aggressive expansion, including the announcement of new managed office client deals valued at approximately ₹305 crore on September 30, 2026.
The sequential revenue increase of 8.2% from ₹546 crore in Q1 FY27 underscores consistent demand for its flexible workspace solutions. The company's market presence has strengthened since its July 2025 listing, supported by a total contracted rental revenue visibility reported at ₹5,400 crore earlier this fiscal year.
Operating Efficiency Lifts Margins to 5.8%
The company achieved a significant profitability milestone as consolidated net profit reached ₹25.6 crore, a 95.4% jump from the previous quarter's ₹13.1 crore. This performance represents a sharp turnaround from the ₹3.1 crore net loss reported in the second quarter of the previous fiscal year. Operating margins improved to 5.8% in Q2-27 from 3.1% in the preceding quarter, reflecting better cost management even as total expenses rose to ₹570.4 crore.
Profit before tax stood at ₹34.9 crore, supported by other income of ₹13.9 crore, which includes interest income and gains from the fair valuation of mutual fund investments.
Corporate Actions and IPO Proceeds Utilization
- Utilised ₹4,410.08 million of IPO proceeds from the fresh issue for debt repayment and capital expenditure
- Allotted 119,000 equity shares during the quarter following the exercise of stock options by employees
- Finalised the 100% acquisition of Singapore-based Workstudio Spaces Pte. Ltd. for SGD 2.47 million in July 2026
- Reclassified ₹39.86 million of offer-related expenses to general corporate purposes via a Board resolution
- Investments in subsidiaries stood at ₹18.75 crore on a standalone basis as of the September quarter-end
Accumulated Loss Adjustment Plan
The Board of Directors of the Parent, at its meeting held on August 24, 2026, approved the utilisation of Rs. 3,856.18 millions from the Securities Premium Account towards setting off the accumulated losses incurred by the Parent upto March 31, 2026.
| Date | Announcement | Amount |
|---|---|---|
| 22 Jul 2026 | Q1 FY27 consolidated revenue from operationsSource: BSE filing | ₹546.20 Cr |
| 30 Apr 2026 | FY27 management guidance targeting 30% revenue growth and 19% EBITDA marginSource: stockscans.in | – |
| 30 Apr 2026 | Q4 FY26 consolidated revenue from operationsSource: equitybulls.com | ₹519.68 Cr |
| 15 Jan 2026 | Q3 FY26 consolidated revenue from operationsSource: smartworksoffice.com | ₹472.10 Cr |
| 06 Nov 2025 | Q2 FY26 consolidated revenue from operationsSource: scanx.trade | ₹424.80 Cr |
| 12 Aug 2025 | Q1 FY26 consolidated revenue from operationsSource: investorfeed.in | ₹379.20 Cr |
What to watch next
- Pending NCLT approval for setting off accumulated losses against the Securities Premium Account
- Execution of the FY27 management target of 30% revenue growth and 19% EBITDA margin
- Consolidation of Workstudio Spaces Pte. Ltd. results following the Singapore acquisition
- Board meeting to consider Q3 results scheduled for January 2027
“The said Financial Results along with Limited Review Report were duly reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company.”
| Share price | ₹484.5 |
|---|---|
| Market capitalisation | ₹5,541.76 Cr |
| Revenue (annual) | ₹1,795.80 Cr |
| Net profit (annual) | ₹10.53 Cr |
| Revenue (latest quarter) | ₹546.25 Cr+5.11% vs previous quarter |
| Net profit (latest quarter) | ₹13.15 Cr-20.91% vs previous quarter |
| P/E (TTM) | 198.82×Sector 33.81× |
| Promoter holding | 58.26%-0.06% QoQ |
| FII holding | 0.36%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Smartworks Coworking Spaces Limited announcing the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. Market figures from a third-party data provider.
