Smartworks Achieves Profitability with Strong Revenue Growth in Q3 FY26

Smartworks, a well-known provider of managed office space, has released its financial results for the third quarter of the current fiscal year. During Q3 FY26, the company achieved profitability while also experiencing substantial revenue growth.

According to its unaudited consolidated financial statements submitted to the National Stock Exchange (NSE), Smartworks’ revenue from operations surged by 34% year-on-year, reaching Rs 472 crore in the quarter ending December 2025, a notable increase from Rs 352 crore in Q3 FY25. The bulk of Smartworks’ revenue stemmed from the development, design, and licensing of serviced office spaces, as well as fit-out services, with supplementary income generated from various ancillary offerings. The firm also realised Rs 16 crore from non-operational activities, resulting in a total income of Rs 488 crore for the quarter, compared to Rs 364 crore in the same quarter of the previous year.

For the nine-month period, Smartworks reported a revenue increase of 26%, amounting to Rs 1,276 crore, up from Rs 1,016 crore a year earlier.

On the expense side, depreciation emerged as the largest cost at Rs 223 crore, followed by operating expenses that reached Rs 132 crore. Finance costs, employee benefits, and marketing expenses brought the total expenditure to Rs 486 crore, compared to Rs 445 crore in the same quarter from the previous year.

Effective cost control measures and significant growth in scale contributed to the company achieving a profit of Rs 1.2 crore in Q3 FY26, a remarkable turnaround from a loss of Rs 16 crore in the same quarter last year.

Smartworks made its debut on the NSE in July of last year at Rs 435 per share, reflecting a 7% premium over its IPO price of Rs 407. As of the last trading session, the stock closed at Rs 474, valuing the company at approximately Rs 5,416 crore (around $599 million).