Latest news with #CoworkingSpaces
Entrepreneur
5 days ago
- Business
- Entrepreneur
Smartworks Announces Strong Q1 FY26 with Record Portfolio Expansion
Normalised profit before tax rose to INR 168 million, representing a margin of 4.4 percent, compared with a normalised loss before tax of INR 102 million in the same quarter last year. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Managed office platform Smartworks Coworking Spaces Limited has announced robust first quarter results for the financial year 2026, supported by significant revenue growth, improved profitability, and portfolio expansion. For the quarter ended June 30, 2025, revenue from operations stood at INR 3,792 million. The company expects much of its recent portfolio additions to mature in the second half of the year, potentially boosting both revenue and margins further. On July 17, 2025, Smartworks made its debut on the National Stock Exchange and Bombay Stock Exchange. IND-AS EBITDA reached INR 2,410 million, up 25.5 percent year-on-year, with a margin of 63.6 percent. On a normalised basis, adjusting for accounting provisions, EBITDA increased 109 percent year-on-year to INR 607 million, representing a margin of about 16 percent. The company recorded a turnaround in profitability. Normalised profit before tax rose to INR 168 million, representing a margin of 4.4 percent, compared with a normalised loss before tax of INR 102 million in the same quarter last year. On a reported basis, loss before tax narrowed to INR 56 million from INR 311 million a year earlier. Normalised operating cash flow rose 71 percent year-on-year to INR 855 million. As of the end of June, Smartworks had 10.08 million square feet of leased space, with 0.70 million square feet under fit-out and another 1.07 million square feet scheduled for handover in the next two quarters. Including signed letters of intent, the total space under management stands at approximately 12 million square feet. Occupancy levels remain above 83 percent in operational centres, with committed occupancy exceeding 89 percent. Neetish Sarda, Managing Director of Smartworks, said, "Our revenue growth this quarter reflects a combination of robust sustained demand from enterprise clients and the deliberate capacity expansion we executed over the past year. By adding over one million square feet of new supply, we strengthened our footprint in key markets and positioned ourselves to capture incremental demand quickly." He added that the improvement in margins "reflects the strength of our asset-light enterprise-focused model and the scalability of our managed campus platform." Harsh Binani, Executive Director, highlighted the company's strong future pipeline. "We have more than INR 40,000 million in committed revenue, providing strong visibility into future cash flows. Over 90 percent of our revenue comes from enterprise clients, and more than 30 percent from multi-city engagements, which is a testament to the trust large corporates place in our platform," he said. Smartworks manages 54 centres across 15 cities in India and also has a presence in Singapore. Since FY19, the company has added 8.6 million square feet across major urban markets such as Pune, Bengaluru, Hyderabad, and Mumbai. With a capacity exceeding 230,000 seats and a focus on long-term enterprise relationships, the company aims to continue building on its position in the managed office segment.
India Today
17-07-2025
- Business
- India Today
Smartworks Coworking Spaces to list today. Will it make strong market debut?
Shares of Smartworks Coworking Spaces Limited are set to debut on Dalal Street today, July 18, 2025. The listing comes after the company's initial public offering (IPO) received fair interest from investors across IPO opened for subscription on July 10 and closed on July 14. The allotment of shares was completed on July DETAILSSmartworks Coworking Spaces IPO was subscribed 13.92 times overall. The issue saw strong interest from qualified institutional buyers (QIBs), who subscribed 24.92 times. The non-institutional investors (NIIs) category was subscribed 23.68 times, while retail investors showed moderate interest with 3.69 times company had set a price band of Rs 407 per share for the IPO. The total issue size was Rs 582.56 crore, which included a fresh issue of 1.09 crore shares worth Rs 445 crore and an offer for sale (OFS) of 0.34 crore shares valued at Rs 137.56 GAINS LOOK LIKELYIn the days leading up to the listing, the grey market premium (GMP) for Smartworks shares showed a slight improvement. On July 17, the last GMP was recorded at Rs 25. Based on this, the estimated listing price is around Rs 432, which is a gain of about 6.14% over the issue this is not a massive listing pop, it indicates a positive debut that could bring modest returns for investors who were allotted shares during the Garg from Lemonn Markets Desk said, 'The strong traction from institutional and affluent investor segments positions the Smartworks IPO in the 'Hot' response category by market standards, particularly for a new-age commercial real estate player operating in the managed office space segment.'- Ends advertisement
