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Smartworks Coworking Spaces Ltd Q2 FY27 results are out (Jul–Sep 2026) →Revenue ₹591 Cr +39.1% YoYSee revenue, profit and what management said. You are viewing Q2 FY26.
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Smartworks Coworking Spaces Ltd

Q2 FY26Commercial Services & Supplies

Smartworks Coworking Spaces Q2 FY26: Capex ₹186 Cr

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Revenue
₹425Cr
+21.4% YoY
Net profit
−₹3Cr
Q2 FY25: −₹16 Cr
Margin
64%
+3 pp YoY
Price₹523
Market cap₹5.4K Cr
P/E193.5

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 from Smartworks Coworking Spaces Ltd's call on revenue

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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 from Smartworks Coworking Spaces Ltd's call on capex

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Top-ranked in Commercial Services & Supplies

Ranked on what management guided this quarter

Guidance-ranked
1Bluspring Enterprises
Rev 1Mar 1
2Happy Square
Rev 1Mar 1
3
Rev 1Mar 2
4
Rev 1Mar 3
5
Rev 1Mar 3
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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 from Smartworks Coworking Spaces Ltd's call on order book

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Smartworks Coworking Spaces Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

Smartworks Coworking Spaces Ltd Q2 FY26 results — key figures

Smartworks Coworking Spaces Ltd Q2 FY26 reported results vs Q2 FY25, ₹ crore
₹ CrQ2 FY26Q2 FY25YoYQ1 FY26QoQ
Revenue425350+21.4%379+12.1%
Operating profit (EBITDA)270214+26.2%241+12%
Operating margin64%61%+3 pp64%0 pp
Profit before tax-4-21—-6—
Net profit (PAT)-3-16—-4—
EPS (₹)-0.27-1.89—-0.41—

Source: reported quarterly figures (Screener), ₹ crore.

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹591 Cr, net profit ₹26 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Smartworks Cowor'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.