Highlights
Smartworks Financial Overview: Significant Growth in Q1 FY27
Smartworks, a managed office space provider, announced impressive financial results for the quarter that ended in June 2026 (Q1 FY27). The firm experienced a remarkable 44% increase in year-on-year revenue during this period, with EBITDA soaring over 37%, amounting to Rs 346 crore.
Revenue Performance in Q1 FY27
Smartworks’ revenue from its operations surged to Rs 546 crore in Q1 FY27, increasing from Rs 365 crore recorded in Q1 FY26. This data emerged from the unaudited consolidated financial statements submitted to the National Stock Exchange (NSE).
The main source of Smartworks’ operating revenue is derived from the development, design, and licensing of serviced office spaces, in addition to fit-out services and other related offerings. The company also registered Rs 13.4 crore in non-operating income, bringing its total income in Q1 FY27 to Rs 560 crore.
Sequential Growth Trends
On a sequential basis, the firm reported a 5% growth in operating revenue, up from Rs 520 crore in Q4 FY26.
Cost Analysis
On the expense front, depreciation costs (linked to leases) represented the most significant expenditure at Rs 246 crore, followed by operating expenses, which totalled Rs 154 crore. Finance costs, employee benefits, and various overheads combined to raise Smartworks’ total expenses to Rs 542 crore, a notable increase from Rs 394 crore in the corresponding quarter last year.
Profitability Overview
In terms of profitability, Smartworks achieved its year-on-year growth with a net profit of Rs 13 crore in Q1 FY27, primarily bolstered by other income streams. Notably, its EBITDA saw an impressive year-on-year increase of over 37%, reaching Rs 346 crore during the quarter, and the EBITDA margin was recorded at 63.4%.
As of 12:35 PM today, Smartworks shares were trading at approximately Rs 494 each, which positioned the company’s market capitalization at Rs 5,634 crore ($593 million).