Smartworks Coworking Spaces reported a consolidated net profit of ₹25.64 crore for the quarter ended September, reversing a net loss in the year-ago period as its total income rose 37 per cent to ₹605.3 crore. The results point to continued demand for managed office space from global companies, Indian businesses and global capability centres operating across Indian cities.
The company had recorded a net loss of ₹3.13 crore in the corresponding quarter a year earlier. Its total income increased from ₹441.06 crore in the year-ago period to ₹605.3 crore in the latest quarter, according to a regulatory filing reported by PTI.
Smartworks operates as a managed office space provider, taking office properties on lease from real estate developers and fitting them out as managed campuses. Its portfolio covers 17.5 million square feet across 71 centres in 15 cities in India and Singapore.
The company’s model places it between conventional commercial leasing and flexible coworking. Instead of occupying a single conventional office under a long-term lease, companies can use managed workplaces with infrastructure and operational services provided through the platform. Smartworks said it serves more than 780 clients, including Fortune 500 and Forbes Global 2000 companies, multinational corporations, Indian conglomerates and high-growth businesses.
Neetish Sarda, founder and managing director of Smartworks, said the company had delivered a strong performance in the first half and was tracking ahead of the plan set for FY27. He attributed the growth to sustained demand, expansion by existing clients across cities and new selections by global businesses, Indian conglomerates and global capability centres.
“Our increasingly diversified client portfolio and growing pipeline of large deals reinforce the strength of our business model,” Sarda said.
The figures arrive as managed office operators continue to serve companies seeking workplace capacity without assuming the full responsibility of leasing, designing and operating large office premises. For commercial landlords, such operators also provide a channel to place sizeable office assets with a single platform that can serve multiple occupiers.
Smartworks’ reported footprint of 71 centres across 15 cities indicates that its performance is linked to the availability and absorption of office space across multiple urban markets rather than a single city. Its clients’ expansion across cities, as described by the company, also reflects the importance of distributed office networks for businesses with operations in more than one location.
The filing did not disclose, in the supplied report, the city-wise distribution of the company’s centres, occupancy levels, rental commitments or the contribution of individual client segments to the quarterly income. The reported results therefore establish the company’s consolidated profit and revenue performance, while further operating details remain subject to disclosures in its regulatory filings.
Smartworks said its pipeline includes large deals and that it would continue to pursue growth under its FY27 plan. The company’s next reported financial results will indicate whether the quarterly return to profit is sustained alongside the expansion of its managed office portfolio.
