Smartworks Coworking Spaces Limited share price
NSE: SMARTWORKS · ISIN INE0NAZ01010
Key numbers
- Market cap
- ₹ 6,061 Cr
- Current price
- ₹ 529.90
- 52-week high / low
- ₹ 619 / 362
- Stock P/E
- 218.1
- Book value
- ₹ 46.3
- Dividend yield
- 0.00%
- ROCE
- 8.2%
- ROE
- 3.3%
- Debt to equity
- 9.00
- Sales growth (3 yrs)
- 36.2%
- Profit growth (3 yrs)
- -
- 1-year return
- -6.0%
About Smartworks Coworking Spaces Limited
Smartworks Coworking Spaces Limited owns, operates, and leases co-working spaces in India. The company operates and maintains serviced office spaces, meeting and training rooms, virtual offices, and other ancillary services. It also provides maintenance and house-keeping services to commercial and private properties and business houses; and software booking application for meeting room management and booking, visitor management system, and attendance management system. The company was incorporated in 2015 and is headquartered in Gurugram, India.
Quarterly results
Consolidated figures in ₹ crores
| Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|
| Sales | 379 | 414 | 472 | 780 | 546 |
| Operating profit | 241 | 262 | 306 | 532 | 346 |
| Net profit | -4 | -4 | 1 | 65 | 13 |
| EPS (₹) | -0.37 | -0.33 | 0.11 | - | 1.15 |
Concall summary (2026-07-28)
AI summary of the earnings call transcript · tone: Positive · source document
Guidance & outlook
- Our ROCE held at 21.5% through the heaviest investment quarter in our history, and as this capex cohort matures and completes payback, we expect ROCE to expand meaningfully through FY28.
- The dip this quarter reflects is largely on account of INR 33 crores of security deposit paid to landlords to book buildings through FY28 and partially for FY29.
Growth & demand
- Our enterprise annuity demand is at 92% of our rental revenue with 1,000 plus seat cohort on 48 months tenure expanding with us across cities.
- That number within a quarter has already moved from 15% to 21% and there is still significant headroom in GCC growth in the subsequent quarters.
Margins & costs
- The normalized EBITDA of INR 107 crores, up 74% year-on-year and 8% quarter-on-quarter, with the margin expanding from 19% in the last quarter to 19.6% this quarter.
- On profitability, our normalized EBITDA rose to INR 107 crores, which is up 74% year-on-year and 8% quarter -on-quarter, with margin expanding to 19.6% from 16.2% in Q1 FY26.
Capex & expansion
- Work Studio stood at about 60% occupancy when we acquired it, and we acquired it at the cost of construction.
- Occupancy of our current operational centres, before the new acquisition and expansion, stood at ~88%(2) percent in Singapore, so we didn't have a lot of seats to sell.
Balance sheet & cash
- On cash generation, our operating cash flow to EBITDA was 0.9x this quarter on normalized operating cash flow of INR 95 crores, which is up 10% year-on-year.
- On the investment front, our free cash flow is negative INR 56 crores against negative INR 4.9 crores a year ago, as capex stepped up 66% year -on-year to ~INR 150 crores.
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