Smartworks Coworking Spaces Q2 FY27 Results: Consolidated Net Profit ₹25.64 Crore on Total Income of ₹605 Crore
Earnings
coworking spaces
Blacklitt Research4 min read
Benoît Prieur, via Wikimedia Commons (CC0). Illustrative image.
In a filing on 30 Oct 2026, Smartworks Coworking Spaces Limited reported consolidated total income of ₹605.30 crore and net profit of ₹25.64 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹587.10 crore and net profit ₹27.86 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹605.30 crore, up 37.2% YoY and 8.2% QoQ
Net profit and EPS: ₹25.64 crore against a loss of ₹3.14 crore a year earlier; basic EPS ₹2.24
Depreciation: ₹259.06 crore, up 30.8% YoY from ₹198.01 crore
Standalone
The company on its own, without its subsidiaries
Total income: ₹587.10 crore, up 36.4% YoY and 8.4% QoQ
Net profit and EPS: ₹27.86 crore against a loss of ₹3.80 crore a year earlier; basic EPS ₹2.44
Depreciation: ₹246.74 crore, up 28.7% YoY from ₹191.78 crore
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
605.30
441.07
+37.2%
559.67
+8.2%
Revenue from operations
591.37
424.78
+39.2%
546.25
+8.3%
Other income
13.93
16.28
-14.4%
13.42
+3.8%
25.64
-3.14
n/a
13.15
+95.0%
Profit before tax
34.87
-4.39
n/a
17.57
+98.5%
Finance costs
97.56
92.80
+5.1%
96.10
+1.5%
Depreciation
259.06
198.01
+30.8%
245.71
+5.4%
Tax expense
9.23
-1.25
n/a
4.42
+108.8%
Net profit margin
4.24%
-0.71%
+4.95 pp
2.35%
+1.89 pp
EPS, basic (₹)
2.24
-0.27
n/a
1.15
+94.8%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit was ₹25.64 crore for the quarter, against a loss of ₹3.14 crore a year earlier. Total income rose 37.2% year on year to ₹605.30 crore, and revenue from operations rose 39.2% to ₹591.37 crore, while other income fell 14.4% to ₹13.93 crore. Against the June quarter, net profit rose 95.0%, faster than total income's 8.2% rise.
Depreciation rose 30.8% year on year to ₹259.06 crore, slower than total income's 37.2% growth and faster than finance costs, which rose 5.1% to ₹97.56 crore. Finance costs were 16.1% of total income this quarter.
The tax line was an expense of ₹9.23 crore, against a credit of ₹1.25 crore a year earlier. Basic EPS was ₹2.24, against a loss of ₹0.27 a year earlier and ₹1.15 in the June quarter, a rise of 94.8% on that quarter.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
587.10
430.27
+36.4%
541.43
+8.4%
Revenue from operations
572.79
413.61
+38.5%
527.71
+8.5%
Other income
14.31
16.66
-14.1%
13.72
+4.3%
27.86
-3.80
n/a
10.28
+171.1%
Profit before tax
37.23
-5.07
n/a
13.73
+171.1%
Finance costs
95.07
91.48
+3.9%
94.48
+0.6%
Depreciation
246.74
191.78
+28.7%
238.84
+3.3%
Tax expense
9.37
-1.28
n/a
3.46
+171.2%
Net profit margin
4.75%
-0.88%
+5.63 pp
1.90%
+2.85 pp
EPS, basic (₹)
2.44
-0.33
n/a
0.90
+171.1%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit was ₹27.86 crore, against a loss of ₹3.80 crore a year earlier. Total income rose 36.4% to ₹587.10 crore and revenue from operations rose 38.5% to ₹572.79 crore, while other income fell 14.1% to ₹14.31 crore. Net profit rose 171.1% on the June quarter, faster than total income's 8.4% rise.
Depreciation rose 28.7% to ₹246.74 crore and finance costs rose 3.9% to ₹95.07 crore, which is 16.2% of total income this quarter. Basic EPS was ₹2.44, against a loss of ₹0.33 a year earlier and ₹0.90 in the June quarter.
The board approved the results on 30 Oct 2026 after the audit committee reviewed them on 29 Oct 2026. Deloitte Haskins & Sells LLP issued a limited review report on the standalone results stating that nothing had come to its attention that causes it to believe the statement contains any material misstatement. On the consolidated results the auditors' conclusion is unmodified; three subsidiaries were reviewed by other auditors.
Inference
The board approved on 24 Aug 2026 the use of ₹385.62 crore from the securities premium account to set off accumulated losses up to 31 Mar 2026. The members approved it at the AGM on 22 Sep 2026, subject to NCLT sanction. With NCLT approval pending at 30 Sep 2026, the results do not give effect to the adjustment.
Of the ₹445.00 crore fresh issue proceeds from the IPO, ₹441.01 crore was utilised up to 30 Sep 2026 and ₹3.99 crore was unutilised, held in the escrow and monitoring accounts. On 21 Sep 2026 the board reclassified ₹3.99 crore of unutilised offer expenses to general corporate purposes. The IPO was priced at ₹407 a share and listed on NSE and BSE on 17 Jul 2025.
Workstudio Spaces Pte. Ltd., a Singapore-based coworking space operator, was acquired from a related party for SGD 2.47 million (₹18.07 crore), with the acquisition completed on 7 Jul 2026; goodwill from the purchase price allocation is ₹5.86 crore. Paid-up equity share capital rose to ₹114.38 crore after 119,000 shares were allotted on exercise of employee stock options. Open questions are the expected timing of the NCLT sanction and the strategic reason for the acquisition.
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SMARTWORKSSmartworks Coworking Spaces Ltd.
