Smartworks Coworking Spaces Q2 FY27: PAT ₹39 & Rev ₹546 Cr

Investor Takeaways

Revenue grew 44% YoY to ₹546 crores in Q1 FY27, driven by 92% committed occupancy and 21% GCC contribution.

EBITDA margin guidance maintained at 19-20% for FY27, supported by VAS revenue tripling to ₹68 crores.

Management reaffirmed FY27 revenue growth target of 28-30% and EBITDA margin of 19-20%, with 13M sq. ft. footprint target by March 2027.

Capex of INR 550-600 crores planned for FY27 focused on new assets and refurbishments; Singapore expansion limited to 1-2 additional centres.

Overall Tone: Positive

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹546 Cr	44%
Net Profit	₹39 Cr	N/A
EBITDA	N/A	N/A
EPS	N/A	N/A
OPM	N/A	N/A

What Changed

Smartworks Coworking Spaces Limited reported a 44% YoY revenue increase to ₹546 crores in Q1 FY27, attributed to 92% committed occupancy and 21% GCC contribution. Management reaffirmed FY27 guidance of 28-30% revenue growth and 19-20% EBITDA margins, targeting a 13M sq. ft. footprint by March 2027. VAS revenue tripled to ₹68 crores, supporting margin expansion through pricing power and institutional landlord partnerships. Capex of INR 550-600 crores is planned for FY27, with Singapore expansion limited to 1-2 additional centres. The company’s current market cap stands at ₹4,997.82 Cr with a P/E ratio of 474.72.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Smartworks Coworking Spaces Limited	474.72	N/A	N/A	4,997.82
Adani Ports and Special Economic Zone Limited	30.83	7.75%	12.49%	4,13,583.7
InterGlobe Aviation Limited	27.38	N/A	N/A	1,66,838.2
GMR AIRPORTS LIMITED	-139.99	N/A	N/A	1,01,989.15

Smartworks trades at a significant premium to peers based on P/E ratio, reflecting investor expectations of sustained growth in the coworking segment.

Risks & Concerns

No specific risks identified in this filing.

Quarterly Trend

[Quarterly Trend section omitted as quarterly trend data was not provided in the context.]

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About Smartworks Coworking Spaces Limited (SMARTWORKS)

Services · Commercial Services & Supplies · Listed on NSE

Market Cap: ₹4,997.82 Cr P/E: 474.7

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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