Smartworks Coworking Spaces Limited (SMARTWORKS) — Announcement | 22 July 2026(2 announcements)

Smartworks Coworking Spaces Limited reported Q1 FY27 revenue of ₹5,462 Mn, up 44% YoY and 5% QoQ, with Normalised EBITDA at ₹1,069 Mn (+74% YoY) and margin expanding to 19.6%. Contracted rental revenue of ~₹54,000 Mn covers 87.2% of FY27 revenue, and operational footprint reached 10.4 million sq ft with 92% committed occupancy. The company reaffirmed FY27 guidance of 28-30% revenue growth, 19-20% EBITDA margins, and 12.5-13 million sq ft portfolio by March 2027. Capex rose 66% YoY to ₹1,510 Mn to secure future supply, with FY27 and FY28 expansion fully booked. Client mix is shifting toward larger enterprise and GCC customers, with multi-city revenue share rising to 35%. The business model demonstrates durable, annuity-like revenue from long-term contracts and structural demand growth in India's flexible workspace market.

Smartworks Coworking Spaces Limited disclosed a CARE Ratings Monitoring Agency Report for Q1FY27 (ended June 30, 2026), confirming compliant utilization of IPO proceeds. The report verifies that Rs 304.78 crore of the Rs 445 crore issue size was utilized as per offer document terms, with Rs 70.21 crore remaining unutilized and earmarked for future deployment. No deviations or delays were noted in fund deployment timelines.