Smartworks Coworking Spaces Ltd
Smartworks Coworking Spaces Ltd Q2 FY26 Results & Concall Highlights: Capex ₹186 Cr
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Smartworks expects revenue growth to accelerate, with a targeted 30%+ growth in the near term. Smartworks expects revenue growth to accelerate, targeting 30%+ growth in the near term.
From Smartworks Coworking Spaces Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Smartworks expects revenue growth to accelerate, with a targeted 30%+ growth in the near term. (Page 8)
- New large deals are continuing to go live, contributing to revenue expansion in H2 FY26. (Page 8)
- Portfolio growth of 2.5 to 3 million sq.ft. annually supports scaling revenue and margins. (Page 14)
- GCC (Global Capability Centers) rental revenue, currently at 15%, is expected to double in the next few years, driven by the new SmartVantage offering. (Page 19)
- Ancillary revenue and value-added services (VAS) are set to double, with rapid VAS growth. (Page 8 & 19)
2 more points management made on revenue & sales performance
Profitability & Margins
See what Smartworks Coworking Spaces Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Current CAPEX includes approximately Rs.186 crores spent in H1 FY26, primarily for building out interiors and common amenities of new centers.
- The Eastbridge property in Vikhroli requires about Rs.110 crores CAPEX, to be deployed in phases as occupancy ramps up; handover expected Q2/Q3 FY27.
- CAPEX is phased: ~50% spent within first 4 months after building handover for common areas and pre-committed client spaces; remaining built out as clients commit.
- Security deposits are paid 2-3 months before handover and on the day of handover to landlords, balancing cash flows with deposits collected from customers.
- The company follows an asset-light model by leasing rather than buying buildings, with CAPEX of approximately Rs.1,350 per sq. ft for interiors, enabling capital-efficient growth.
2 more points management made on capital expenditure plans
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Smartworks Coworking Spaces Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Since the IPO, Smartworks has signed more than 2.7 million square feet of space, reflecting strong growth momentum.
- In the recent quarter, they added and paid security deposit for more than 2 million square feet of new properties, indicating a robust order book.
- The company follows a time-based milestone approach for security deposits, with deposits paid progressively before property handover, minimizing upfront capital lock-in.
- They typically start marketing a new building 5-6 months before completion, with about 30-35% pre-commitment from existing client demand, which helps secure leases early and accelerates occupancy ramp-up.
2 more points management made on order book & pipeline
Smartworks Coworking Spaces Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹520 Cr, net profit ₹17 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Smartworks Coworking Spaces Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Smartworks Coworking Spaces Ltd Q2 FY26 results?
Smartworks expects revenue growth to accelerate, with a targeted 30%+ growth in the near term. Smartworks expects revenue growth to accelerate, targeting 30%+ growth in the near term.
What is Smartworks Coworking Spaces Ltd share price analysis?
Smartworks Coworking Spaces Ltd currently shows a neutral. The stock trades at a P/E of 193.5 with a market cap of ₹5,393 Cr. Investors should review the full earnings analysis for detailed insights.
Is Smartworks Coworking Spaces Ltd planning capital expenditure?
Current CAPEX includes approximately Rs.186 crores spent in H1 FY26, primarily for building out interiors and common amenities of new centers. - The Eastbridge property in Vikhroli requires about Rs.110 crores CAPEX, to be deployed in phases as occupancy ramps up; handover expected Q2/Q3 FY27. - CAPEX is phased: ~50% spent within first 4 months after building handover for common areas and pre-committed client spaces; remaining built out as clients commit. - Security deposits are paid 2-3 months before handover and on the day of handover to landlords, balancing cash flows with deposits collected from customers. - The company follows an asset-light model by leasing rather than buying buildings, with CAPEX of approximately Rs.1,350 per sq.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.