Smartworks Cuts Q2 Loss 80% YoY To INR 3 Cr

Coworking space provider Smartworks managed to trim its Q2 FY26 net loss by 80% to INR 3.1 Cr from INR 15.8 Cr in the year-ago period. On a sequential basis, the loss declined 26% from INR 4.2 Cr.

 

The improvement in the bottom line was a result of strong top line growth and improvement in margins. The company’s operating revenue zoomed over 21% YoY and 12% QoQ to INR 424.8 Cr. The company attributed the uptick in revenues to a robust enterprise demand, continued portfolio expansion and disciplined execution.

In line with its revenue, the listed startup’s EBITDA also zoomed 46% YoY to INR 69.6 Cr.

Including other income of INR 16.3 Cr, Smartworks’ total revenue for the quarter stood at INR 441.1 Cr, up 22% YoY. Meanwhile, expenses also rose 16% YoY to INR 445.5 Cr.

At the end of the September 2025 quarter, the coworking space provider served over 760 corporate clients via its 54 centers spread across 14 cities. While Smartworks’ 9.1 Mn sq ft portfolio saw an occupancy rate of 81% during the quarter, it claimed 88% and 93% for its mature centres.

Besides, the company also emphasised a “landmark” 8.15 Lakh sq ft campus deal it signed with Hiranandani Group’s Eastbridge during the quarter.

Founder and managing director Neetish Sarda said that the deal would enable the company to establish the world’s largest managed office campus in Mumbai and would strengthen the company’s position as the leading workspace solutions provider for enterprises and global capability centres (GCCs).

“The addition of Eastbridge — the world’s largest managed office campus — is a testament to the trust large enterprises and developers place in our model. As enterprise and GCC demand accelerate, Smartworks remains focused on building responsibly, growing sustainably, and creating long-term value for all stakeholders,” Sarda said.

As a result of all these, Smartworks expects its business momentum to accelerate through the second half of FY26. Besides, the company claims to have a full visibility on its supply for FY27 and FY28 and sustained enterprise demand.

Shares of Smartworks ended today’s trading session down 1.45% at INR 598.90.

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