Smartworks Coworking Spaces gained 2.26% to ₹534.55 following the announcement of incremental contracted revenue expansion. The stock movement reflects positive market sentiment toward the company's continued growth trajectory and strategic client acquisitions across multiple cities.
Smartworks Coworking Spaces Ltd. has secured ₹235 crore in incremental contracted rental revenue through expansion mandates from existing clients, as reported by Business Standard. This additional revenue builds on the company's existing ₹5,400 crore of contracted rental revenue as of June 30, 2026. The expansion mandates include clients from Fortune 500 and Forbes 2000 companies, as well as large Indian conglomerates, highlighting continued demand from its existing customer base. According to the latest announcement, the new contracts feature engagement tenures of up to 60 months, demonstrating long-term commitment from enterprise clients. The value reflects leasing rental revenue with engagement tenures of up to 60 months, building on the company's existing contracted rental revenue base.
For the first quarter, Smartworks reported a consolidated net profit of ₹13.15 crore in the quarter ended June 2026, compared to a net loss of ₹4.20 crore during the previous quarter ended June 2025, according to Business Standard. The revenue quarter under review stood at ₹546.25 crore, rising 44.05% from ₹379 crore in the June quarter of the previous cycle. The company's earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 43.5% to ₹346 crore in the fourth quarter from ₹241 crore in the last year.
The latest contract additions include a global leader in engineering and technology services - a subsidiary of a Fortune India 500 company, the India IT services arm of a Forbes 2000 company, and a Fortune 500 global infrastructure consulting firm among others. Several clients are building advanced technology and AI capabilities out of their India centres, as reported by Business Standard. Neetish Sarda, Founder and Managing Director of Smartworks, emphasized that "the strongest validation of any platform is when existing clients choose to grow with it." He noted that the expansion reflects the trust and stickiness created by their managed campus model, which provides prime locations, quality infrastructure, and room to scale on demand for organizations growing at pace.
The revenue composition underscores Smartworks' focus on large enterprises, with approximately 92% of the company's revenue derived from enterprise clients. Additionally, ~35% of revenue comes from multi-city clients, indicating a growing role as a preferred workspace partner for enterprises operating across geographies. As of June 30, 2026, Smartworks reported a total secured footprint of ~16.9 million sq. ft. across 70 centres in 15 cities in India and Singapore. The company strategically secures long-term leases for large campuses in prime business locations, with the expansion pipeline secured for FY27 and FY28, and partial capacity locked for FY29.
