Smartworks’ Financial Results Show Remarkable Growth in Q2 FY27
Smartworks announced its financial outcomes for the quarter ending September 2026 (Q2 FY27). The company experienced a notable 39% increase in revenue compared to the same period last year. Additionally, EBITDA surged by 37%, amounting to Rs 391 crore.
The revenue from operations for Smartworks rose to Rs 591 crore in Q2 FY27, a significant increase from Rs 425 crore in Q2 FY26, as reflected in the unaudited consolidated financial results submitted to the National Stock Exchange (NSE). A substantial portion of Smartworks’ operational revenue originates from the creation, design, and licensing of serviced office spaces, complemented by fit-out services and additional offerings.
During the quarter, the company also recorded Rs 14 crore in non-operating income, leading to a total income of Rs 605 crore for Q2 FY27. In comparison to the previous quarter, the firm’s operational revenue increased by 8% from Rs 546 crore in Q1 FY27.
On the expenses side, lease-related depreciation constituted the largest expenditure for Smartworks, amounting to Rs 259 crore, representing a 31% increase from Rs 198 crore in Q2 FY26. This was followed by operating expenses at Rs 172 crore during the same quarter. Employee benefits expenses reached Rs 28 crore. Total expenditures, including finance costs and other overheads, summed up to Rs 570 crore in Q2 FY27, compared to Rs 445 crore in the corresponding quarter last year.
In terms of profitability, Smartworks recorded a net profit of Rs 26 crore in Q2 FY27, marking a quarter-on-quarter profit and a year-on-year improvement from a net loss of Rs 3 crore in the same quarter last year. Furthermore, EBITDA showed a robust 37% year-on-year growth, reaching Rs 391 crore, with an EBITDA margin exceeding 66%.
For the first half of FY27, Smartworks saw a 42% year-on-year increase in operational revenue, amounting to Rs 1,138 crore. The company also reported a net profit of Rs 39 crore, compared to a loss of Rs 7.3 crore in H1 FY26. At 11:22 AM today, Smartworks shares were trading at approximately Rs 477.7 each, giving the company a market capitalization of Rs 5,465 crore ($575 million).