Gurugram-based Smartworks Coworking Spaces Ltd will invest around ₹600 crore this fiscal in its existing and upcoming centres as part of its expansion plan to meet rising demand for managed workspace. According to reports from Business Standard, Founder and MD Neetish Sarda explained during a conference call with market analysts that the capex estimate is between ₹550 crore and ₹600 crore for the year. This investment includes refurbishment capex typically done after every three years and fresh capex for new centres. As reported by Business Standard, the company has already signed up more than 3.5 million square feet of space either under construction or coming up for construction, demonstrating strong pipeline momentum. The company had invested nearly ₹400 crore in capital expenditure last fiscal year.
Smartworks posted a total revenue of ₹1,850 crore in 2025-26 and has reported a consolidated net profit of ₹13.14 crore for the quarter ended June, as against a net loss of ₹4.19 crore in the year-ago period. As reported by Business Standard, total income rose 44% to ₹559.66 crore in the April-June period of 2026-27 from ₹387.98 crore in the corresponding period of the preceding year. The company had invested nearly ₹400 crore in capital expenditure last fiscal year. During 2025-26, Smartworks posted a profit of ₹10.52 crore on a total revenue of ₹1,850 crore, marking a significant turnaround from previous years.
The company has a portfolio of 16.9 million square feet of office space across 70 centres in 15 cities across India and Singapore, with the platform growing to almost 17 million square feet of total area. According to Business Standard, Smartworks serves over 760 clients from Fortune 500 to Forbes 2000 companies, MNCs, leading Indian conglomerates, and unicorns, with more than 1.5 lakh professionals working from its campuses daily. Around 92% of Smartworks' revenue comes from enterprise clients, with the company providing a one-stop workspace solution including cafeterias, gyms, creches, convenience stores, recreation zones, and round-the-clock support for clients. The company leases entire buildings from India's leading developers and non-institutional landlords in prime micro-markets and transforms them into fully managed, amenity-rich campuses.
Committed contracted revenue today stands at approximately ₹5,400 crores, with 87% of FY27 revenue already contracted. As reported by Business Standard, clients typically sign long-tenure agreements of 4-5 years. Executive Director Harsh Binani noted that at 10.4 million square feet operational, Smartworks is the largest platform in the industry, with scale earning preferred terms from landlords and lower unit costs across leasing and operation. The company's green initiatives, including solar adoption across campuses, have helped improve economics for both the company and its clients, while the rising share of 1,000-plus seat cohort and multi-city clients demonstrates the network effect strategy at work, with the increasing share of revenue from Global Capability Centres (GCCs) indicating expanding market penetration in the corporate segment.
According to real estate consultant Colliers India, coworking operators rented 8.6 million sq ft of office space in the first six months of 2026, up 32% year-on-year. Cushman & Wakefield highlighted that these operators rented out 1,91,306 desks to corporates during the first six months of 2026 as against 1,13,623 seats in the year-ago period. The company's larger centres continue to attract larger clients, with the rising share of 1,000-plus seat cohort and multi-city clients showing the network effect strategy at work, while the increasing share of revenue from Global Capability Centres (GCCs) indicates expanding market penetration in the corporate segment.
